AlphaCrest Capital Management LLC boosted its holdings in Sabra Health Care REIT, Inc. (NASDAQ:SBRA – Get Rating) by 469.4% in the second quarter, Holdings Channel reports. The institutional investor owned 131,573 shares of the real estate investment trust’s stock after buying an additional 108,467 shares during the period. AlphaCrest Capital Management LLC’s holdings in Sabra Health Care REIT were worth $1,838,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Sabra Health Care REIT by 1.8% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 38,659 shares of the real estate investment trust’s stock valued at $540,000 after acquiring an additional 679 shares during the last quarter. State of Michigan Retirement System increased its holdings in Sabra Health Care REIT by 1.2% in the second quarter. State of Michigan Retirement System now owns 58,749 shares of the real estate investment trust’s stock valued at $821,000 after purchasing an additional 700 shares during the period. Arizona State Retirement System raised its position in Sabra Health Care REIT by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 62,575 shares of the real estate investment trust’s stock worth $874,000 after purchasing an additional 760 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Sabra Health Care REIT by 1.2% during the 1st quarter. Cetera Investment Advisers now owns 80,608 shares of the real estate investment trust’s stock worth $1,200,000 after buying an additional 919 shares during the period. Finally, Lindbrook Capital LLC grew its position in shares of Sabra Health Care REIT by 60.8% in the 2nd quarter. Lindbrook Capital LLC now owns 2,929 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,107 shares during the last quarter. 87.67% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on SBRA. Robert W. Baird downgraded Sabra Health Care REIT from an “outperform” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research report on Monday, October 10th. Bank of America lowered shares of Sabra Health Care REIT from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $15.00 to $13.00 in a report on Monday, November 14th. StockNews.com started coverage on shares of Sabra Health Care REIT in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Barclays increased their price objective on shares of Sabra Health Care REIT to $15.00 in a research report on Tuesday, August 9th. Finally, Citigroup lifted their target price on shares of Sabra Health Care REIT to $15.50 in a research note on Monday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Sabra Health Care REIT has an average rating of “Hold” and a consensus price target of $15.00.
Sabra Health Care REIT Stock Performance
Sabra Health Care REIT Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Thursday, November 17th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 9.58%. The ex-dividend date is Wednesday, November 16th. Sabra Health Care REIT’s payout ratio is -1,500.00%.
About Sabra Health Care REIT
As of March 31, 2022, Sabra's investment portfolio included 416 real estate properties held for investment. This consists of (i) 279 Skilled Nursing/Transitional Care facilities, (ii) 59 Senior Housing communities (Senior Housing – Leased), (iii) 50 Senior Housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing – Managed), (iv) 13 Behavioral Health facilities and (v) 15 Specialty Hospitals and Other facilities), one asset held for sale, one investment in a sales-type lease, 16 investments in loans receivable (consisting of (i) two mortgage loans, (ii) one construction loan and (iii) 13 other loans), seven preferred equity investments and one investment in an unconsolidated joint venture.
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