Wealthstar Advisors LLC Raises Holdings in Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Wealthstar Advisors LLC grew its position in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 8.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 39,997 shares of the real estate investment trust’s stock after buying an additional 3,212 shares during the quarter. Wealthstar Advisors LLC’s holdings in Sabra Health Care REIT were worth $591,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners acquired a new stake in shares of Sabra Health Care REIT during the fourth quarter worth about $25,000. GAMMA Investing LLC acquired a new position in Sabra Health Care REIT in the fourth quarter valued at $33,000. Neo Ivy Capital Management acquired a new stake in Sabra Health Care REIT during the fourth quarter worth about $41,000. Principal Securities Inc. acquired a new stake in Sabra Health Care REIT during the fourth quarter worth about $46,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Sabra Health Care REIT during the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 99.40% of the company’s stock.

Analysts Set New Price Targets

SBRA has been the subject of several research analyst reports. Truist Financial upped their price target on Sabra Health Care REIT from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Scotiabank upped their target price on Sabra Health Care REIT from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 15th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.79.

Insider Transactions at Sabra Health Care REIT

In related news, Director Catherine Cusack purchased 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average price of $14.43 per share, with a total value of $101,010.00. Following the acquisition, the director now owns 46,385 shares in the company, valued at approximately $669,335.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Sabra Health Care REIT Stock Down 0.6 %

NASDAQ SBRA traded down $0.10 during mid-day trading on Thursday, reaching $15.36. 892,197 shares of the company’s stock traded hands, compared to its average volume of 1,729,131. Sabra Health Care REIT, Inc. has a 1-year low of $11.57 and a 1-year high of $15.54. The company has a fifty day simple moving average of $14.48 and a 200-day simple moving average of $14.13. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.89. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 76.80, a P/E/G ratio of 2.47 and a beta of 1.24.

Sabra Health Care REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.20 annualized dividend and a dividend yield of 7.81%. Sabra Health Care REIT’s payout ratio is 600.00%.

Sabra Health Care REIT Profile

As of September 30, 2023, Sabra's investment portfolio included 377 real estate properties held for investment (consisting of (i) 240 Skilled Nursing/Transitional Care facilities, (ii) 43 senior housing communities (Senior Housing – Leased), (iii) 61 senior housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing – Managed), (iv) 18 Behavioral Health facilities and (v) 15 Specialty Hospitals and Other facilities), 12 investments in loans receivable (consisting of two mortgage loans and 10 other loans), five preferred equity investments and two investments in unconsolidated joint ventures.