Retirement Systems of Alabama Has $17.25 Million Stock Holdings in Sabra Healthcare REIT, Inc. (NASDAQ:SBRA)

Retirement Systems of Alabama increased its position in Sabra Healthcare REIT, Inc. (NASDAQ:SBRA - Free Report) by 243.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 987,655 shares of the real estate investment trust's stock after purchasing an additional 699,985 shares during the period. Retirement Systems of Alabama owned 0.42% of Sabra Healthcare REIT worth $17,254,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. VSM Wealth Advisory LLC acquired a new position in Sabra Healthcare REIT in the fourth quarter worth $26,000. UMB Bank n.a. lifted its position in shares of 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 last quarter. Assetmark Inc. boosted its holdings in shares of 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 valued at $45,000 after buying an additional 656 shares during the period. Fifth Third Bancorp boosted its holdings in shares of 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 valued at $67,000 after buying an additional 2,011 shares during the period. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Sabra Healthcare REIT during the 4th quarter valued at about $74,000. 99.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SBRA shares. Truist Financial raised 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. Scotiabank lifted their price target on Sabra Healthcare REIT from $19.00 to $20.00 and gave the company a "sector perform" rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Sabra Healthcare REIT has a consensus rating of "Moderate Buy" and an average target price of $19.67.

Sabra Healthcare REIT Price Performance

NASDAQ:SBRA traded up $0.34 during midday trading on Monday, hitting $18.59. 2,189,198 shares of the stock were exchanged, compared to its average volume of 2,288,281. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 31.51, a P/E/G ratio of 1.38 and a beta of 0.85. 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 one year low of $14.63 and a one year high of $20.03. The business has a 50-day moving average price of $17.79 and a two-hundred day moving average price of $17.26.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) last issued its quarterly 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. The company had revenue of $183.54 million for the quarter, compared to analysts' expectations 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 period last year, the firm earned $0.35 EPS. Sell-side analysts predict that Sabra Healthcare REIT, Inc. will post 1.45 EPS for the current year.

Sabra Healthcare REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 6.46%. The ex-dividend date was Friday, May 16th. Sabra Healthcare REIT's dividend payout ratio (DPR) is presently 203.39%.

Insider Buying and Selling at Sabra Healthcare REIT

In other news, Director Michael J. Foster sold 11,000 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $18.22, for a total transaction of $200,420.00. Following the completion of the sale, the director now directly owns 64,725 shares of the company's stock, valued at $1,179,289.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by corporate insiders.

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.