Insider Buying: Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Director Acquires 7,000 Shares of Stock

Sabra Health Care REIT, Inc. (NASDAQ:SBRAGet Free Report) Director Catherine Cusack acquired 7,000 shares of the stock in a transaction dated 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 acquisition, the director now owns 46,385 shares in the company, valued at approximately $669,335.55. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Sabra Health Care REIT Stock Performance

Shares of NASDAQ:SBRA traded down $0.17 during trading on Thursday, hitting $14.15. 1,663,113 shares of the stock were exchanged, compared to its average volume of 2,004,970. Sabra Health Care REIT, Inc. has a 1-year low of $10.30 and a 1-year high of $14.92. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 70.75, a price-to-earnings-growth ratio of 2.42 and a beta of 1.17. The company’s fifty day simple moving average is $14.24 and its 200-day simple moving average is $14.08. 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 disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 8.48%. The ex-dividend date is Friday, May 17th. Sabra Health Care REIT’s payout ratio is presently 600.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SBRA shares. Scotiabank increased their price objective on Sabra Health Care REIT from $14.00 to $15.00 and gave the company a “sector perform” rating in a report on Wednesday, May 15th. Wedbush reissued an “outperform” rating and set a $17.00 price objective on shares of Sabra Health Care REIT in a report on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Sabra Health Care REIT in a report on Tuesday, January 30th. They set a “buy” rating and a $21.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Sabra Health Care REIT presently has a consensus rating of “Moderate Buy” and an average target price of $15.71.

Read Our Latest Stock Report on SBRA

Institutional Trading of Sabra Health Care REIT

Several institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue grew its holdings in shares of Sabra Health Care REIT by 0.6% during the 1st 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 purchasing an additional 755 shares in the last quarter. Retirement Systems of Alabama grew its holdings in shares of Sabra Health Care REIT by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 290,353 shares of the real estate investment trust’s stock worth $4,289,000 after purchasing an additional 761 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Sabra Health Care REIT by 45.2% during the 3rd quarter. Signaturefd LLC now owns 2,610 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 813 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Sabra Health Care REIT by 0.6% during the 4th 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 purchasing an additional 825 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Sabra Health Care REIT by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 65,828 shares of the real estate investment trust’s stock worth $918,000 after purchasing an additional 900 shares in the last quarter. Institutional investors and hedge funds own 99.40% of the company’s stock.

About Sabra Health Care REIT

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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.

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