New Age Alpha Advisors LLC Acquires 144,379 Shares of Sabra Healthcare REIT, Inc. (NASDAQ:SBRA)

Key Points

• New Age Alpha Advisors LLC increased its stake in Sabra Healthcare REIT by 371.2% during the first quarter, owning 183,271 shares valued at approximately $3.2 million.
• Scotiabank raised its price target for Sabra Healthcare REIT from $19.00 to $20.00, maintaining a "sector perform" rating as the stock has a consensus rating of "Moderate Buy."
• Sabra Healthcare REIT announced a quarterly dividend of $0.30 per share, which translates to an annualized dividend yield of 6.6%, despite a high payout ratio of 203.39%.

New Age Alpha Advisors LLC increased its position in shares of Sabra Healthcare REIT, Inc. (NASDAQ:SBRA - Free Report) by 371.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,271 shares of the real estate investment trust's stock after acquiring an additional 144,379 shares during the quarter. New Age Alpha Advisors LLC owned 0.08% of Sabra Healthcare REIT worth $3,202,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SBRA. Allspring Global Investments Holdings LLC purchased a new position in Sabra Healthcare REIT during the 1st quarter valued at about $298,000. New York State Teachers Retirement System grew its holdings in shares of Sabra Healthcare REIT by 12.1% during the 1st 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 acquiring an additional 34,591 shares in the last quarter. M&T Bank Corp increased its stake in shares of Sabra Healthcare REIT by 2.1% in the first quarter. M&T Bank Corp now owns 51,827 shares of the real estate investment trust's stock worth $905,000 after acquiring an additional 1,059 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Sabra Healthcare REIT by 4.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,921 shares of the real estate investment trust's stock worth $331,000 after acquiring an additional 853 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Sabra Healthcare REIT during the first quarter worth $578,000. Institutional investors and hedge funds own 99.40% of the company's stock.

Insiders Place Their Bets

In other 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 value of $200,420.00. Following the transaction, the director owned 64,725 shares of the company's stock, valued at $1,179,289.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Sabra Healthcare REIT Price Performance

Shares of SBRA stock traded up $0.04 during trading hours on Friday, hitting $18.72. 2,599,960 shares of the company's stock were exchanged, compared to its average volume of 2,522,028. Sabra Healthcare REIT, Inc. has a 52 week low of $15.60 and a 52 week high of $20.03. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 1.55 and a beta of 0.86. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.80 and a quick ratio of 4.22. The stock's 50-day moving average is $18.25 and its 200-day moving average is $17.55.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $189.15 million during the quarter, compared to analysts' expectations of $185.64 million. Sabra Healthcare REIT had a net margin of 24.87% and a return on equity of 6.69%. Sabra Healthcare REIT's revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, research analysts forecast that Sabra Healthcare REIT, Inc. will post 1.45 EPS for the current year.

Sabra Healthcare REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 6.4%. The ex-dividend date is Friday, August 15th. Sabra Healthcare REIT's dividend payout ratio is currently 157.89%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Scotiabank upped their target price on Sabra Healthcare REIT from $19.00 to $20.00 and gave the stock a "sector perform" rating in a research report on Monday, June 23rd. JMP Securities boosted their price target on Sabra Healthcare REIT from $20.00 to $22.00 and gave the company a "market outperform" rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $20.00.

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.