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

Bank of New York Mellon Corp grew its stake in Sabra Healthcare REIT, Inc. (NASDAQ:SBRA - Free Report) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 about 1.73% of Sabra Healthcare REIT worth $71,875,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Rossby Financial LCC bought a new position in shares of Sabra Healthcare REIT in the 1st quarter worth about $92,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Sabra Healthcare REIT by 16.2% during the first 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 increased its stake in shares of Sabra Healthcare REIT by 12.1% during the first quarter. New York State Teachers Retirement System now owns 321,647 shares of the real estate investment trust's stock valued at $5,619,000 after purchasing an additional 34,591 shares in the last quarter. Wealthstar Advisors LLC boosted its holdings in Sabra Healthcare REIT by 9.9% in the first 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 last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Sabra Healthcare REIT by 1.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 257,900 shares of the real estate investment trust's stock valued at $4,506,000 after buying an additional 2,790 shares in the last quarter. Institutional investors and hedge funds own 99.40% of the company's stock.

Insider Activity

In related news, Director Michael J. Foster sold 11,000 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $18.22, for a total transaction of $200,420.00. Following the transaction, the director directly owned 64,725 shares in the company, valued at approximately $1,179,289.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SBRA. Truist Financial upped their price target on shares of Sabra Healthcare REIT from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Tuesday, March 18th. Scotiabank upped their price target on shares of 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 equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given 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

NASDAQ SBRA traded down $0.36 on Tuesday, reaching $18.40. 1,276,138 shares of the company's stock traded hands, compared to its average volume of 2,308,265. The stock has a market cap of $4.38 billion, a PE ratio of 31.19, a P/E/G ratio of 1.53 and a beta of 0.85. The stock has a 50-day simple moving average of $18.00 and a 200 day simple moving average of $17.37. Sabra Healthcare REIT, Inc. has a 12 month low of $15.60 and a 12 month high of $20.03. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.22 and a quick ratio of 4.22.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.37 earnings per share 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 company had revenue of $183.54 million for the quarter, compared to analyst estimates of $180.23 million. During the same quarter in the prior year, the firm posted $0.35 EPS. Sabra Healthcare REIT's quarterly revenue was up 10.1% compared to the same quarter last year. As a group, research analysts predict that Sabra Healthcare REIT, Inc. will post 1.45 earnings per share for the current year.

Sabra Healthcare REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.30 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.52%. Sabra Healthcare REIT's dividend payout ratio (DPR) 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.