New York State Teachers Retirement System Acquires 34,591 Shares of Sabra Healthcare REIT, Inc. (NASDAQ:SBRA)

New York State Teachers Retirement System boosted its position in Sabra Healthcare REIT, Inc. (NASDAQ:SBRA - Free Report) by 12.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 321,647 shares of the real estate investment trust's stock after acquiring an additional 34,591 shares during the quarter. New York State Teachers Retirement System owned 0.14% of Sabra Healthcare REIT worth $5,619,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. purchased a new stake in Sabra Healthcare REIT during the first quarter valued at about $578,000. Autumn Glory Partners LLC boosted its position in Sabra Healthcare REIT by 356.0% during the first quarter. Autumn Glory Partners LLC now owns 45,600 shares of the real estate investment trust's stock valued at $797,000 after buying an additional 35,600 shares during the period. Retirement Systems of Alabama boosted its position in Sabra Healthcare REIT by 243.3% during the first quarter. Retirement Systems of Alabama now owns 987,655 shares of the real estate investment trust's stock valued at $17,254,000 after buying an additional 699,985 shares during the period. GAMMA Investing LLC boosted its position in Sabra Healthcare REIT by 1,710.3% during the first quarter. GAMMA Investing LLC now owns 93,447 shares of the real estate investment trust's stock valued at $1,633,000 after buying an additional 88,285 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in Sabra Healthcare REIT during the fourth quarter valued at about $348,000. Institutional investors own 99.40% of the company's stock.

Insider Buying and Selling at Sabra Healthcare REIT

In related news, Director Michael J. Foster sold 11,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $18.22, for a total transaction of $200,420.00. Following the completion of the sale, the director owned 64,725 shares of the company's stock, valued at $1,179,289.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

Sabra Healthcare REIT Stock Down 0.6%

Shares of SBRA traded down $0.12 on Tuesday, hitting $18.40. 2,047,491 shares of the stock traded hands, compared to its average volume of 2,297,077. The company has a market capitalization of $4.38 billion, a PE ratio of 31.19, a P/E/G ratio of 1.40 and a beta of 0.85. 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 business has a 50 day simple moving average of $17.95 and a 200 day simple moving average of $17.34. Sabra Healthcare REIT, Inc. has a one year low of $15.11 and a one year high of $20.03.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) last announced its quarterly earnings results 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. 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 net margin of 19.55% and a return on equity of 5.14%. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. As a group, equities analysts forecast that Sabra Healthcare REIT, Inc. will post 1.45 earnings per share 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 given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.52%. The ex-dividend date was Friday, May 16th. Sabra Healthcare REIT's dividend payout ratio (DPR) is currently 203.39%.

Analysts Set New Price Targets

SBRA has been the subject of a number of analyst reports. Scotiabank increased their target price on shares of Sabra Healthcare REIT from $19.00 to $20.00 and gave the stock a "sector perform" rating in a report on Monday, June 23rd. Truist Financial increased their target price on shares of Sabra Healthcare REIT from $17.00 to $18.00 and gave the stock a "hold" rating in a report on Tuesday, March 18th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $19.67.

About Sabra Healthcare REIT

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.