Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $18.38.

Several research analysts recently commented on the stock. Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $16.00 to $20.00 in a report on Tuesday, October 1st. Scotiabank raised their target price on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th. Truist Financial raised their price target on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Citigroup raised shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and raised their target price for the company from $17.00 to $20.00 in a report on Friday, September 13th.

Institutional Investors Weigh In On Sabra Health Care REIT

Several hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its position in shares of Sabra Health Care REIT by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 21,573,436 shares of the real estate investment trust’s stock worth $401,479,000 after purchasing an additional 167,069 shares during the period. Asset Management One Co. Ltd. increased its stake in Sabra Health Care REIT by 14.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 539,004 shares of the real estate investment trust’s stock valued at $10,031,000 after purchasing an additional 66,929 shares in the last quarter. Van ECK Associates Corp increased its stake in Sabra Health Care REIT by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 39,772 shares of the real estate investment trust’s stock valued at $755,000 after purchasing an additional 4,366 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Sabra Health Care REIT during the 3rd quarter valued at $78,000. Finally, Janney Montgomery Scott LLC increased its stake in Sabra Health Care REIT by 1.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 176,398 shares of the real estate investment trust’s stock valued at $3,283,000 after purchasing an additional 1,915 shares in the last quarter. 99.40% of the stock is currently owned by institutional investors and hedge funds.

Sabra Health Care REIT Stock Down 0.9 %

Shares of NASDAQ:SBRA opened at $19.40 on Friday. Sabra Health Care REIT has a 52 week low of $12.83 and a 52 week high of $19.73. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.27 and a current ratio of 4.27. The company has a market capitalization of $4.54 billion, a PE ratio of 92.38, a PEG ratio of 2.80 and a beta of 1.26. The company has a 50 day moving average price of $18.11 and a two-hundred day moving average price of $16.12.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.24). Sabra Health Care REIT had a return on equity of 1.87% and a net margin of 7.83%. The company had revenue of $176.14 million for the quarter, compared to the consensus estimate of $166.54 million. During the same period in the prior year, the company earned $0.34 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. Analysts forecast that Sabra Health Care REIT will post 1.39 earnings per share for the current year.

Sabra Health Care REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 annualized dividend and a yield of 6.19%. Sabra Health Care REIT’s dividend payout ratio is presently 571.43%.

Sabra Health Care REIT Company 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.