Bank of New York Mellon Corp Purchases 463,601 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Bank of New York Mellon Corp lifted its holdings in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 13.0% during the fourth quarter, HoldingsChannel reports. The firm owned 4,039,651 shares of the real estate investment trust’s stock after purchasing an additional 463,601 shares during the period. Bank of New York Mellon Corp’s holdings in Sabra Health Care REIT were worth $69,967,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC grew its holdings in Sabra Health Care REIT by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,294,798 shares of the real estate investment trust’s stock valued at $117,165,000 after buying an additional 104,533 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Sabra Health Care REIT by 222.4% in the third quarter. JPMorgan Chase & Co. now owns 9,886,917 shares of the real estate investment trust’s stock valued at $183,996,000 after acquiring an additional 6,819,919 shares during the period. Vestcor Inc grew its stake in shares of Sabra Health Care REIT by 62.5% in the third quarter. Vestcor Inc now owns 207,918 shares of the real estate investment trust’s stock worth $3,869,000 after acquiring an additional 79,956 shares during the last quarter. Barclays PLC increased its position in Sabra Health Care REIT by 56.1% during the third quarter. Barclays PLC now owns 678,397 shares of the real estate investment trust’s stock worth $12,624,000 after acquiring an additional 243,895 shares during the period. Finally, Franklin Resources Inc. increased its position in Sabra Health Care REIT by 12.3% during the third quarter. Franklin Resources Inc. now owns 524,917 shares of the real estate investment trust’s stock worth $9,543,000 after acquiring an additional 57,551 shares during the period. 99.40% of the stock is currently owned by institutional investors.

Sabra Health Care REIT Stock Performance

NASDAQ:SBRA opened at $16.81 on Tuesday. The firm has a market capitalization of $4.00 billion, a PE ratio of 31.72, a price-to-earnings-growth ratio of 1.97 and a beta of 1.25. The company has a quick ratio of 4.16, a current ratio of 4.32 and a debt-to-equity ratio of 0.88. Sabra Health Care REIT, Inc. has a 12-month low of $13.31 and a 12-month high of $20.03. The firm has a 50-day moving average price of $16.77 and a 200 day moving average price of $17.63.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $182.35 million during the quarter, compared to analysts’ expectations of $178.01 million. Sabra Health Care REIT had a return on equity of 4.60% and a net margin of 18.02%. Research analysts anticipate that Sabra Health Care REIT, Inc. will post 1.45 earnings per share for the current fiscal year.

Sabra Health Care REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, February 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.14%. Sabra Health Care REIT’s payout ratio is presently 226.42%.

Wall Street Analyst Weigh In

SBRA has been the topic of several research analyst reports. Citizens Jmp upgraded shares of Sabra Health Care REIT from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Mizuho reissued a “neutral” rating and set a $20.00 target price on shares of Sabra Health Care REIT in a research report on Thursday, December 5th. Truist Financial lowered Sabra Health Care REIT from a “buy” rating to a “hold” rating and lowered their price target for the company from $18.00 to $17.00 in a research note on Friday, January 17th. Finally, JMP Securities upgraded Sabra Health Care REIT from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research report on Tuesday, January 7th. Three investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.17.

Sabra Health Care REIT 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.