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

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

Analyst Ratings Changes

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

Sabra Health Care REIT Trading Down 1.5 %

The company’s 50 day simple moving average is $15.00 and its 200 day simple moving average is $14.32. The firm has a market cap of $3.78 billion, a price-to-earnings 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 current ratio of 4.33 and a quick ratio of 4.33.

Sabra Health Care REIT Dividend Announcement

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

Insider Activity at Sabra Health Care REIT

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue grew its position in Sabra Health Care REIT by 0.6% during the first quarter. State of Alaska Department of Revenue now owns 135,087 shares of the real estate investment trust’s stock worth $1,993,000 after buying an additional 755 shares during the period. Retirement Systems of Alabama grew its position in Sabra Health Care REIT by 0.3% during the first quarter. Retirement Systems of Alabama now owns 290,353 shares of the real estate investment trust’s stock worth $4,289,000 after buying an additional 761 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Sabra Health Care REIT by 0.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 136,667 shares of the real estate investment trust’s stock worth $1,931,000 after buying an additional 825 shares during the period. Parallel Advisors LLC grew its position in Sabra Health Care REIT by 5.4% during the fourth quarter. Parallel Advisors LLC now owns 17,655 shares of the real estate investment trust’s stock worth $252,000 after buying an additional 906 shares during the period. Finally, Global Retirement Partners LLC grew its position in Sabra Health Care REIT by 5.0% during the first quarter. Global Retirement Partners LLC now owns 19,412 shares of the real estate investment trust’s stock worth $287,000 after buying an additional 923 shares during the period. 99.40% of the stock is currently owned by institutional investors and hedge funds.

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.