Bank of New York Mellon Corp Grows Holdings in Sabra Healthcare REIT, Inc. (NASDAQ:SBRA)

Bank of New York Mellon Corp boosted its holdings in Sabra Healthcare REIT, Inc. (NASDAQ:SBRA - Free Report) by 1.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,114,215 shares of the real estate investment trust's stock after purchasing an additional 74,564 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.73% of Sabra Healthcare REIT worth $71,875,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Rossby Financial LCC bought a new position in Sabra Healthcare REIT in the 1st quarter worth approximately $92,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Sabra Healthcare REIT by 16.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,392 shares of the real estate investment trust's stock worth $898,000 after purchasing an additional 7,161 shares during the period. New York State Teachers Retirement System boosted its stake in Sabra Healthcare REIT by 12.1% in the 1st quarter. New York State Teachers Retirement System now owns 321,647 shares of the real estate investment trust's stock worth $5,619,000 after purchasing an additional 34,591 shares during the period. Wealthstar Advisors LLC boosted its stake in Sabra Healthcare REIT by 9.9% in the 1st quarter. Wealthstar Advisors LLC now owns 41,914 shares of the real estate investment trust's stock worth $732,000 after purchasing an additional 3,790 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Sabra Healthcare REIT by 1.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 257,900 shares of the real estate investment trust's stock worth $4,506,000 after purchasing an additional 2,790 shares during the period. 99.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Michael J. Foster sold 11,000 shares of the 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 sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on SBRA. Scotiabank upped their price target on 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. 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. Three equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.67.

Sabra Healthcare REIT Price Performance

Shares of NASDAQ SBRA traded up $0.09 during midday trading on Friday, reaching $18.46. 3,639,191 shares of the stock traded hands, compared to its average volume of 2,304,658. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.22 and a quick ratio of 4.22. The stock has a market capitalization of $4.39 billion, a PE ratio of 31.29, a P/E/G ratio of 1.52 and a beta of 0.85. Sabra Healthcare REIT, Inc. has a one year low of $15.60 and a one year high of $20.03. The company's 50 day moving average is $18.00 and its 200 day moving average is $17.37.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) last posted its earnings results on Monday, May 5th. The real estate investment trust reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. The firm had revenue of $183.54 million during the quarter, compared to the consensus estimate of $180.23 million. Sabra Healthcare REIT had a return on equity of 5.14% and a net margin of 19.55%. The company's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. On average, equities research analysts anticipate that Sabra Healthcare REIT, Inc. will post 1.45 earnings per share for the current year.

Sabra Healthcare REIT Dividend Announcement

The business also recently declared 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. The ex-dividend date was Friday, May 16th. This represents a $1.20 annualized dividend and a yield of 6.50%. Sabra Healthcare REIT's payout ratio is presently 203.39%.

Sabra Healthcare REIT Company 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.