Sabra Health Care REIT (NASDAQ:SBRA) Hits New 12-Month High at $16.80

Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) hit a new 52-week high on Tuesday . The company traded as high as $16.80 and last traded at $16.64, with a volume of 769089 shares changing hands. The stock had previously closed at $16.55.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SBRA shares. Truist Financial increased their price target on Sabra Health Care REIT from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Scotiabank increased their price target on Sabra Health Care REIT from $14.00 to $15.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 15th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.09.

Sabra Health Care REIT Trading Down 1.5 %

The stock has a 50-day moving average price of $15.00 and a 200-day moving average price of $14.32. The stock has a market cap of $3.78 billion, a P/E ratio of 81.70, a P/E/G ratio of 2.65 and a beta of 1.24. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.33 and a current ratio of 4.33.

Sabra Health Care REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a $0.30 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 7.34%. Sabra Health Care REIT’s payout ratio is 600.00%.

Insider Buying and Selling

In other news, Director Catherine Cusack bought 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was bought at an average price of $14.43 per share, for a total transaction of $101,010.00. Following the transaction, the director now directly owns 46,385 shares of the company’s stock, valued at approximately $669,335.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sabra Health Care REIT

A number of large investors have recently bought and sold shares of SBRA. Vanguard Group Inc. grew its stake in Sabra Health Care REIT by 2.5% in the first quarter. Vanguard Group Inc. now owns 34,972,611 shares of the real estate investment trust’s stock worth $516,545,000 after purchasing an additional 838,654 shares during the period. Principal Financial Group Inc. boosted its holdings in Sabra Health Care REIT by 0.4% in the first quarter. Principal Financial Group Inc. now owns 21,571,121 shares of the real estate investment trust’s stock worth $318,605,000 after acquiring an additional 83,842 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Sabra Health Care REIT by 2.9% in the first quarter. Janus Henderson Group PLC now owns 5,199,682 shares of the real estate investment trust’s stock worth $76,701,000 after acquiring an additional 145,548 shares in the last quarter. LSV Asset Management boosted its holdings in Sabra Health Care REIT by 2.5% in the fourth quarter. LSV Asset Management now owns 4,385,615 shares of the real estate investment trust’s stock worth $62,583,000 after acquiring an additional 107,266 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Sabra Health Care REIT by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,190,587 shares of the real estate investment trust’s stock worth $59,800,000 after acquiring an additional 94,304 shares in the last quarter. 99.40% of the stock is owned by hedge funds and other institutional investors.

Sabra Health Care REIT Company Profile

As of September 30, 2023, Sabra's investment portfolio included 377 real estate properties held for investment (consisting of (i) 240 Skilled Nursing/Transitional Care facilities, (ii) 43 senior housing communities (Senior Housing – Leased), (iii) 61 senior housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing – Managed), (iv) 18 Behavioral Health facilities and (v) 15 Specialty Hospitals and Other facilities), 12 investments in loans receivable (consisting of two mortgage loans and 10 other loans), five preferred equity investments and two investments in unconsolidated joint ventures.