Sabra Healthcare REIT, Inc. $SBRA Stock Position Raised by Sound Income Strategies LLC

Sound Income Strategies LLC raised its stake in shares of Sabra Healthcare REIT, Inc. (NASDAQ:SBRA) by 8.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,051,751 shares of the real estate investment trust’s stock after purchasing an additional 80,453 shares during the period. Sound Income Strategies LLC’s holdings in Sabra Healthcare REIT were worth $19,815,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Sabra Healthcare REIT by 6.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,208,600 shares of the real estate investment trust’s stock valued at $61,701,000 after buying an additional 203,226 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Sabra Healthcare REIT by 7.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,725,337 shares of the real estate investment trust’s stock worth $71,640,000 after acquiring an additional 269,793 shares in the last quarter. Readystate Asset Management LP bought a new position in Sabra Healthcare REIT in the second quarter valued at $1,400,000. Entropy Technologies LP increased its stake in Sabra Healthcare REIT by 299.6% in the first quarter. Entropy Technologies LP now owns 124,068 shares of the real estate investment trust’s stock valued at $2,386,000 after acquiring an additional 93,021 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in Sabra Healthcare REIT by 424.3% during the first quarter. Quantinno Capital Management LP now owns 155,086 shares of the real estate investment trust’s stock valued at $2,982,000 after purchasing an additional 125,507 shares in the last quarter. Hedge funds and other institutional investors own 99.40% of the company’s stock.

Sabra Healthcare REIT Trading Up 0.6%

Shares of SBRA stock traded up $0.12 on Friday, hitting $18.96. 1,393,548 shares of the company’s stock traded hands, compared to its average volume of 2,694,469. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 72.93, a P/E/G ratio of 1.42 and a beta of 0.63. The company’s fifty day simple moving average is $20.26 and its 200 day simple moving average is $20.09. Sabra Healthcare REIT, Inc. has a one year low of $17.17 and a one year high of $22.77. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.07 and a current ratio of 3.07.

Sabra Healthcare REIT (NASDAQ:SBRA) last posted its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.27). Sabra Healthcare REIT had a return on equity of 2.34% and a net margin of 7.61%.The business had revenue of $230.11 million during the quarter, compared to the consensus estimate of $219.39 million. During the same period in the prior year, the firm earned $0.38 earnings per share. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. Equities analysts forecast that Sabra Healthcare REIT, Inc. will post 1.52 EPS for the current year.

Sabra Healthcare REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were issued a $0.30 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 6.3%. Sabra Healthcare REIT’s payout ratio is currently 461.54%.

Insider Activity at Sabra Healthcare REIT

In other news, CEO Richard Matros sold 200,000 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $20.83, for a total value of $4,166,000.00. Following the completion of the sale, the chief executive officer owned 1,657,686 shares of the company’s stock, valued at approximately $34,529,599.38. The trade was a 10.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sabra Healthcare REIT in a research note on Wednesday, July 22nd. Citizens Jmp increased their price objective on Sabra Healthcare REIT from $23.00 to $25.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 22nd. Weiss Ratings cut Sabra Healthcare REIT from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Huntington started coverage on Sabra Healthcare REIT in a research report on Thursday, September 10th. They issued an “outperform” rating and a $23.00 target price for the company. Finally, Raymond James Financial upgraded Sabra Healthcare REIT from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.23.

About Sabra Healthcare REIT

Sabra Healthcare REIT, Inc is a self-managed real estate investment trust that owns and invests in healthcare-related real estate. The company primarily provides capital to healthcare operators through property ownership, leases, mortgage loans, and other investment structures.

Sabra’s portfolio has historically included skilled nursing facilities, senior housing communities, behavioral health facilities, specialty hospitals, and other healthcare properties. Its properties are generally leased to or operated by third-party healthcare providers, allowing the company to participate in the healthcare real estate market without directly delivering most patient-care services.

Founded in 2010, Sabra Healthcare REIT serves healthcare markets primarily in the United States, with investments that have also included select properties in Canada.