Healthcare of Ontario Pension Plan Trust Fund Lowers Position in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 21.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,500 shares of the real estate investment trust’s stock after selling 10,500 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Sabra Health Care REIT were worth $583,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners purchased a new stake in Sabra Health Care REIT in the fourth quarter valued at approximately $25,000. GAMMA Investing LLC purchased a new stake in Sabra Health Care REIT during the fourth quarter worth approximately $33,000. Neo Ivy Capital Management purchased a new stake in Sabra Health Care REIT during the fourth quarter worth approximately $41,000. Principal Securities Inc. purchased a new stake in Sabra Health Care REIT during the fourth quarter worth approximately $46,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Sabra Health Care REIT during the fourth quarter worth approximately $56,000. 99.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial boosted their price objective 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 boosted their price objective 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 equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Sabra Health Care REIT has an average rating of “Moderate Buy” and an average target price of $16.09.

Sabra Health Care REIT Price Performance

Shares of SBRA stock opened at $16.34 on Friday. The company has a market capitalization of $3.78 billion, a PE ratio of 81.70, a price-to-earnings-growth ratio of 2.64 and a beta of 1.24. The firm has a fifty day simple moving average of $15.00 and a 200-day simple moving average of $14.32. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.89. Sabra Health Care REIT, Inc. has a twelve month low of $11.73 and a twelve month high of $16.89.

Sabra Health Care REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were paid a $0.30 dividend. 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 presently 600.00%.

Insider Activity

In related news, Director Catherine Cusack purchased 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were purchased at an average cost of $14.43 per share, with a total value of $101,010.00. Following the completion of the acquisition, the director now directly owns 46,385 shares of the company’s stock, valued at approximately $669,335.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Sabra Health Care REIT 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.