Sabra Health Care REIT (NASDAQ:SBRA) Hits New 12-Month High at $15.43

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) shares hit a new 52-week high on Monday . The stock traded as high as $15.43 and last traded at $15.33, with a volume of 291739 shares. The stock had previously closed at $15.40.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SBRA. Scotiabank lifted their price objective on Sabra Health Care REIT from $14.00 to $15.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 15th. Truist Financial raised their target price on Sabra Health Care REIT from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.79.

Sabra Health Care REIT Trading Up 0.3 %

The stock has a market cap of $3.58 billion, a P/E ratio of 77.30, a P/E/G ratio of 2.46 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. The stock has a 50-day moving average price of $14.44 and a 200-day moving average price of $14.12.

Sabra Health Care REIT Announces Dividend

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 of this dividend was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 7.76%. 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

Large investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Sabra Health Care REIT in the 4th quarter worth approximately $31,605,000. Principal Financial Group Inc. increased its stake in Sabra Health Care REIT by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 21,487,279 shares of the real estate investment trust’s stock worth $306,623,000 after purchasing an additional 484,086 shares during the period. Russell Investments Group Ltd. increased its stake in Sabra Health Care REIT by 170.2% in the 4th quarter. Russell Investments Group Ltd. now owns 399,215 shares of the real estate investment trust’s stock worth $5,697,000 after purchasing an additional 251,482 shares during the period. Duff & Phelps Investment Management Co. increased its stake in Sabra Health Care REIT by 58.8% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 2,101,595 shares of the real estate investment trust’s stock worth $29,990,000 after purchasing an additional 778,355 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Sabra Health Care REIT by 709.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,504,420 shares of the real estate investment trust’s stock worth $188,252,000 after purchasing an additional 11,835,109 shares during the period. 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.