Sabra Healthcare REIT, Inc. (NASDAQ:SBRA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in shares of Sabra Healthcare REIT, Inc. (NASDAQ:SBRA - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,677,195 shares of the real estate investment trust's stock after selling 432,488 shares during the quarter. Principal Financial Group Inc. owned about 9.11% of Sabra Healthcare REIT worth $378,701,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SBRA. VSM Wealth Advisory LLC acquired a new position in shares of Sabra Healthcare REIT during the fourth quarter valued at about $26,000. UMB Bank n.a. increased its holdings in Sabra Healthcare REIT by 379.6% in the 1st quarter. UMB Bank n.a. now owns 2,048 shares of the real estate investment trust's stock worth $36,000 after buying an additional 1,621 shares during the period. Assetmark Inc. increased its holdings in Sabra Healthcare REIT by 33.4% in the 4th quarter. Assetmark Inc. now owns 2,618 shares of the real estate investment trust's stock worth $45,000 after buying an additional 656 shares during the period. Fifth Third Bancorp increased its holdings in Sabra Healthcare REIT by 110.3% in the 1st quarter. Fifth Third Bancorp now owns 3,835 shares of the real estate investment trust's stock worth $67,000 after buying an additional 2,011 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new position in Sabra Healthcare REIT in the 4th quarter worth approximately $74,000. Institutional investors and hedge funds own 99.40% of the company's stock.

Analysts Set New Price Targets

SBRA has been the topic of a number of recent analyst reports. Truist Financial increased their target price on Sabra Healthcare REIT from $17.00 to $18.00 and gave the company a "hold" rating in a research report on Tuesday, March 18th. Scotiabank lifted 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 research note 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 company. Based on data from MarketBeat, Sabra Healthcare REIT presently has an average rating of "Moderate Buy" and a consensus price target of $19.67.

Insider Activity

In other Sabra Healthcare REIT news, Director Michael J. Foster sold 11,000 shares of Sabra Healthcare REIT stock in a transaction 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 $1,179,289.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.20% of the company's stock.

Sabra Healthcare REIT Price Performance

Shares of NASDAQ SBRA traded up $0.16 during trading on Thursday, reaching $18.62. The company had a trading volume of 1,028,774 shares, compared to its average volume of 2,297,937. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.89. Sabra Healthcare REIT, Inc. has a twelve month low of $15.11 and a twelve month high of $20.03. The stock has a 50-day moving average price of $17.87 and a two-hundred day moving average price of $17.30. The stock has a market capitalization of $4.43 billion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 1.39 and a beta of 0.85.

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 (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. The business had revenue of $183.54 million for 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 company's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 earnings per share. As a group, sell-side analysts predict 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 paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date of this dividend was Friday, May 16th. Sabra Healthcare REIT's dividend payout ratio is currently 203.39%.

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.