Sabra Health Care REIT (NASDAQ:SBRA) Reaches New 1-Year High at $15.43

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SBRA shares. Scotiabank lifted 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 note on Wednesday, May 15th. Truist Financial lifted their price objective 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 research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.79.

Sabra Health Care REIT Price Performance

The firm’s 50-day moving average is $14.37 and its 200-day moving average is $14.11. The company has a market capitalization of $3.54 billion, a PE ratio of 76.75, a price-to-earnings-growth ratio of 2.46 and a beta of 1.24. The company has a quick ratio of 4.33, a current ratio of 4.33 and a debt-to-equity ratio of 0.89.

Sabra Health Care REIT Dividend Announcement

The business 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 annualized dividend and a yield of 7.86%. Sabra Health Care REIT’s dividend payout ratio (DPR) is presently 600.00%.

Insider Buying and Selling

In other Sabra Health Care REIT news, Director Catherine Cusack purchased 7,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was acquired at an average cost of $14.43 per share, with a total value of $101,010.00. Following the completion of the purchase, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

Institutional Trading of Sabra Health Care REIT

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted 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 last quarter. Principal Financial Group Inc. raised its stake in shares of Sabra Health Care REIT by 0.4% during the first quarter. Principal Financial Group Inc. now owns 21,571,121 shares of the real estate investment trust’s stock valued at $318,605,000 after acquiring an additional 83,842 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Sabra Health Care REIT by 709.0% during the third quarter. JPMorgan Chase & Co. now owns 13,504,420 shares of the real estate investment trust’s stock valued at $188,252,000 after acquiring an additional 11,835,109 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Sabra Health Care REIT by 2.9% during the first quarter. Janus Henderson Group PLC now owns 5,199,682 shares of the real estate investment trust’s stock valued at $76,701,000 after acquiring an additional 145,548 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Sabra Health Care REIT by 2.5% during the fourth quarter. LSV Asset Management now owns 4,385,615 shares of the real estate investment trust’s stock valued at $62,583,000 after acquiring an additional 107,266 shares during the last quarter. 99.40% of the stock is owned by institutional investors.

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.