Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Stock Position Decreased by SteelPeak Wealth LLC

SteelPeak Wealth LLC cut its stake in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 4.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,318 shares of the real estate investment trust’s stock after selling 1,303 shares during the period. SteelPeak Wealth LLC’s holdings in Sabra Health Care REIT were worth $403,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Sabra Health Care REIT in the first quarter worth $89,000. Pensionfund Sabic boosted its position in Sabra Health Care REIT by 27.3% during the 1st quarter. Pensionfund Sabic now owns 72,374 shares of the real estate investment trust’s stock worth $1,069,000 after acquiring an additional 15,500 shares during the period. Pensionfund DSM Netherlands grew its stake in Sabra Health Care REIT by 19.1% during the 1st quarter. Pensionfund DSM Netherlands now owns 155,730 shares of the real estate investment trust’s stock valued at $2,300,000 after acquiring an additional 25,000 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Sabra Health Care REIT in the 4th quarter valued at about $56,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Sabra Health Care REIT by 12.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 24,427 shares of the real estate investment trust’s stock worth $349,000 after purchasing an additional 2,786 shares in the last quarter. 99.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Scotiabank boosted their price objective on shares of Sabra Health Care REIT from $14.00 to $15.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 15th. Truist Financial lifted their target price on shares of Sabra Health Care REIT from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Sabra Health Care REIT currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.79.

Sabra Health Care REIT Stock Up 1.9 %

Shares of SBRA stock opened at $15.40 on Monday. The stock’s 50 day simple moving average is $14.37 and its 200 day simple moving average is $14.11. Sabra Health Care REIT, Inc. has a twelve month low of $11.57 and a twelve month high of $15.43. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.33 and a current ratio of 4.33. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 77.00, a PEG ratio of 2.46 and a beta of 1.24.

Sabra Health Care REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.79%. The ex-dividend date of this dividend was Friday, May 17th. Sabra Health Care REIT’s dividend payout ratio is 600.00%.

Insider Transactions at Sabra Health Care REIT

In other news, Director Catherine Cusack bought 7,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average cost of $14.43 per share, for a total transaction of $101,010.00. Following the purchase, the director now owns 46,385 shares of the company’s stock, valued at approximately $669,335.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

About Sabra Health Care REIT

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.