Allianz Asset Management GmbH Buys 251,595 Shares of Sabra Healthcare REIT, Inc. (NASDAQ:SBRA)

Key Points

• Allianz Asset Management GmbH increased its stake in Sabra Healthcare REIT by 89.4% during the first quarter, now owning about 0.22% of the company valued at $9.31 million.
• Sabra Healthcare REIT reported earnings of $0.37 EPS for the quarter, surpassing analysts' expectations of $0.36, with a revenue of $183.54 million.
• The company announced a quarterly dividend of $0.30 per share, resulting in an annualized yield of 6.59% and a dividend payout ratio of 203.39%.

Allianz Asset Management GmbH increased its stake in Sabra Healthcare REIT, Inc. (NASDAQ:SBRA - Free Report) by 89.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 532,922 shares of the real estate investment trust's stock after purchasing an additional 251,595 shares during the period. Allianz Asset Management GmbH owned approximately 0.22% of Sabra Healthcare REIT worth $9,310,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. IFP Advisors Inc increased its stake in Sabra Healthcare REIT by 16.2% in the first quarter. IFP Advisors Inc now owns 5,060 shares of the real estate investment trust's stock valued at $88,000 after acquiring an additional 706 shares during the last quarter. Private Advisor Group LLC increased its stake in Sabra Healthcare REIT by 17.2% in the first quarter. Private Advisor Group LLC now owns 35,552 shares of the real estate investment trust's stock valued at $621,000 after acquiring an additional 5,229 shares during the last quarter. Diversify Advisory Services LLC increased its stake in Sabra Healthcare REIT by 5.7% in the first quarter. Diversify Advisory Services LLC now owns 12,878 shares of the real estate investment trust's stock valued at $226,000 after acquiring an additional 689 shares during the last quarter. Bailard Inc. increased its stake in Sabra Healthcare REIT by 250.3% in the first quarter. Bailard Inc. now owns 46,720 shares of the real estate investment trust's stock valued at $816,000 after acquiring an additional 33,383 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Sabra Healthcare REIT by 12.7% in the first quarter. Victory Capital Management Inc. now owns 1,630,076 shares of the real estate investment trust's stock valued at $28,477,000 after acquiring an additional 183,739 shares during the last quarter. 99.40% of the stock is currently owned by institutional investors.

Sabra Healthcare REIT Trading Down 1.1%

Shares of Sabra Healthcare REIT stock traded down $0.20 during midday trading on Wednesday, reaching $17.96. 2,561,702 shares of the company's stock traded hands, compared to its average volume of 2,131,041. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.22 and a current ratio of 4.22. The company has a market cap of $4.27 billion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 1.51 and a beta of 0.85. The stock has a 50 day moving average of $18.11 and a 200-day moving average of $17.48. Sabra Healthcare REIT, Inc. has a 12 month low of $15.60 and a 12 month high of $20.03.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) last announced its earnings results on Monday, May 5th. The real estate investment trust reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. The company had revenue of $183.54 million during the quarter, compared to the consensus estimate of $180.23 million. Sabra Healthcare REIT had a return on equity of 5.14% and a net margin of 19.55%. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 earnings per share. As a group, equities analysts expect that Sabra Healthcare REIT, Inc. will post 1.45 EPS for the current fiscal year.

Sabra Healthcare REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a $0.30 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.20 annualized dividend and a yield of 6.68%. Sabra Healthcare REIT's payout ratio is 203.39%.

Insiders Place Their Bets

In other Sabra Healthcare REIT news, Director Michael J. Foster sold 11,000 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $18.22, for a total value of $200,420.00. Following the sale, the director directly owned 64,725 shares of the company's stock, valued at approximately $1,179,289.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Scotiabank increased their price target on shares of Sabra Healthcare REIT from $19.00 to $20.00 and gave the company a "sector perform" rating in a research report on Monday, June 23rd. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $19.67.

Sabra Healthcare REIT Profile

Sabra Health Care REIT, Inc engages in the business of acquiring, financing, and owning real estate property. The company was founded on May 10, 2010 and is headquartered in Tustin, CA.