16,632 Shares in Sabra Healthcare REIT, Inc. (NASDAQ:SBRA) Purchased by Journey Strategic Wealth LLC

Key Points

• Journey Strategic Wealth LLC invested approximately $291,000 in Sabra Healthcare REIT by acquiring 16,632 shares in the first quarter, as reported in its 13F filing.
• Analysts have given Sabra Healthcare REIT an average rating of "Moderate Buy", with a consensus price target of $19.67 following Scotiabank's recent price increase to $20.00.
• The company announced a quarterly dividend of $0.30 per share, representing an annualized dividend yield of 6.59%.

Journey Strategic Wealth LLC bought a new position in shares of Sabra Healthcare REIT, Inc. (NASDAQ:SBRA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,632 shares of the real estate investment trust's stock, valued at approximately $291,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBRA. JPMorgan Chase & Co. grew its stake in shares of Sabra Healthcare REIT by 4.3% in the fourth quarter. JPMorgan Chase & Co. now owns 10,312,991 shares of the real estate investment trust's stock worth $178,621,000 after purchasing an additional 426,074 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Sabra Healthcare REIT by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 6,381,525 shares of the real estate investment trust's stock worth $110,550,000 after purchasing an additional 86,727 shares during the last quarter. Northern Trust Corp grew its stake in shares of Sabra Healthcare REIT by 27.7% in the fourth quarter. Northern Trust Corp now owns 4,169,385 shares of the real estate investment trust's stock worth $72,214,000 after purchasing an additional 905,466 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Sabra Healthcare REIT by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 4,114,215 shares of the real estate investment trust's stock worth $71,875,000 after purchasing an additional 74,564 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Sabra Healthcare REIT by 23.1% in the fourth quarter. Janus Henderson Group PLC now owns 3,504,809 shares of the real estate investment trust's stock worth $60,720,000 after purchasing an additional 657,950 shares during the last quarter. Institutional investors own 99.40% of the company's stock.

Sabra Healthcare REIT Trading Down 0.8%

SBRA traded down $0.15 during trading on Friday, reaching $18.22. 1,833,471 shares of the stock traded hands, compared to its average volume of 2,255,475. The stock's 50-day moving average is $18.10 and its 200 day moving average is $17.46. Sabra Healthcare REIT, Inc. has a 12 month low of $15.60 and a 12 month high of $20.03. The stock has a market capitalization of $4.34 billion, a PE ratio of 30.88, a P/E/G ratio of 1.51 and a beta of 0.85. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.89.

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

Sabra Healthcare REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.20 annualized dividend and a dividend yield of 6.59%. Sabra Healthcare REIT's dividend payout ratio is currently 203.39%.

Insider Buying and Selling at Sabra Healthcare REIT

In related news, Director Michael J. Foster sold 11,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $18.22, for a total value of $200,420.00. Following the sale, the director owned 64,725 shares in the company, valued at $1,179,289.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.20% of the company's stock.

Analyst Ratings Changes

Separately, Scotiabank upped 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 investment 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. Based on data from MarketBeat, Sabra Healthcare REIT presently has an average rating of "Moderate Buy" and a consensus target price of $19.67.

Sabra Healthcare REIT Company 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.