Retirement Systems of Alabama Acquires 699,985 Shares of Sabra Healthcare REIT, Inc. (NASDAQ:SBRA)

Retirement Systems of Alabama grew its holdings in Sabra Healthcare REIT, Inc. (NASDAQ:SBRA - Free Report) by 243.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 987,655 shares of the real estate investment trust's stock after purchasing an additional 699,985 shares during the quarter. Retirement Systems of Alabama owned about 0.42% of Sabra Healthcare REIT worth $17,254,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SBRA. Norges Bank bought a new position in Sabra Healthcare REIT during the fourth quarter worth $48,950,000. Northern Trust Corp grew its position in 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 worth $72,214,000 after purchasing an additional 905,466 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Sabra Healthcare REIT by 95.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,816,217 shares of the real estate investment trust's stock worth $31,457,000 after purchasing an additional 888,908 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Sabra Healthcare REIT during the fourth quarter valued at about $14,241,000. Finally, Wellington Management Group LLP raised its position in shares of Sabra Healthcare REIT by 33.7% during the fourth quarter. Wellington Management Group LLP now owns 3,205,042 shares of the real estate investment trust's stock valued at $55,511,000 after buying an additional 808,207 shares during the last quarter. 99.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SBRA. Truist Financial boosted their price target on Sabra Healthcare REIT from $17.00 to $18.00 and gave the company a "hold" rating in a research note on Tuesday, March 18th. Scotiabank lifted their price objective on Sabra Healthcare REIT from $19.00 to $20.00 and gave the stock a "sector perform" rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Sabra Healthcare REIT presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.67.

Sabra Healthcare REIT Price Performance

NASDAQ SBRA traded down $0.26 on Wednesday, reaching $18.27. The company's stock had a trading volume of 1,689,867 shares, compared to its average volume of 2,287,126. Sabra Healthcare REIT, Inc. has a 52 week low of $14.66 and a 52 week high of $20.03. 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 firm has a market cap of $4.35 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 1.40 and a beta of 0.85. The business has a 50-day moving average price of $17.82 and a 200 day moving average price of $17.27.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $183.54 million for the quarter, compared to the consensus estimate of $180.23 million. During the same period in the previous year, the business earned $0.35 earnings per share. The company's quarterly revenue was up 10.1% on a year-over-year basis. Sell-side analysts expect that Sabra Healthcare REIT, Inc. will post 1.45 EPS for the current year.

Sabra Healthcare REIT Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date was Friday, May 16th. Sabra Healthcare REIT's dividend payout ratio (DPR) is 203.39%.

Insider Buying and Selling at Sabra Healthcare REIT

In related news, Director Michael J. Foster sold 11,000 shares of Sabra Healthcare REIT stock in a transaction dated 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.20% of the company's stock.

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.