Oppenheimer & Co. Inc. Takes Position in Sabra Healthcare REIT, Inc. (NASDAQ:SBRA)

Oppenheimer & Co. Inc. acquired a new position in Sabra Healthcare REIT, Inc. (NASDAQ:SBRA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 33,062 shares of the real estate investment trust's stock, valued at approximately $578,000.

Several other institutional investors also recently bought and sold shares of SBRA. JPMorgan Chase & Co. boosted its position in Sabra Healthcare REIT by 4.3% during the fourth quarter. JPMorgan Chase & Co. now owns 10,312,991 shares of the real estate investment trust's stock valued at $178,621,000 after purchasing an additional 426,074 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Sabra Healthcare REIT by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 6,381,525 shares of the real estate investment trust's stock valued at $110,550,000 after buying an additional 86,727 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Sabra Healthcare REIT by 27.7% in the 4th quarter. Northern Trust Corp now owns 4,169,385 shares of the real estate investment trust's stock valued at $72,214,000 after buying an additional 905,466 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Sabra Healthcare REIT by 13.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,039,651 shares of the real estate investment trust's stock valued at $69,967,000 after buying an additional 463,601 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Sabra Healthcare REIT by 23.1% in the 4th quarter. Janus Henderson Group PLC now owns 3,504,809 shares of the real estate investment trust's stock worth $60,720,000 after buying an additional 657,950 shares during the last quarter. 99.40% of the stock is currently owned by hedge funds and other institutional investors.

Sabra Healthcare REIT Stock Performance

Shares of NASDAQ SBRA traded up $0.16 during midday trading on Wednesday, reaching $18.46. The company had a trading volume of 2,456,109 shares, compared to its average volume of 2,297,390. Sabra Healthcare REIT, Inc. has a 1 year low of $15.11 and a 1 year high of $20.03. The business's 50-day simple moving average is $17.85 and its 200 day simple moving average is $17.29. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.89. The stock has a market cap of $4.39 billion, a P/E ratio of 31.29, a P/E/G ratio of 1.38 and a beta of 0.85.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) last released its earnings results on Monday, May 5th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Sabra Healthcare REIT had a return on equity of 5.14% and a net margin of 19.55%. The firm had revenue of $183.54 million for the quarter, compared to the consensus estimate of $180.23 million. During the same period in the prior year, the firm earned $0.35 EPS. The firm's revenue was up 10.1% on a year-over-year basis. On average, 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 announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date was Friday, May 16th. Sabra Healthcare REIT's dividend payout ratio (DPR) is 203.39%.

Insider Activity at Sabra Healthcare REIT

In related news, Director Michael J. Foster sold 11,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $18.22, for a total value of $200,420.00. Following the transaction, the director owned 64,725 shares in the company, valued at approximately $1,179,289.50. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Truist Financial increased their price objective on Sabra Healthcare REIT from $17.00 to $18.00 and gave the company a "hold" rating in a report on Tuesday, March 18th. Scotiabank upped their target price on 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 assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Sabra Healthcare REIT currently has an average rating of "Moderate Buy" and an average price target 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.