Sabra Health Care REIT, Inc. Declares Quarterly Dividend of $0.30 (NASDAQ:SBRA)

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) announced a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.30 per share by the real estate investment trust on Friday, November 29th. This represents a $1.20 annualized dividend and a yield of 6.41%. The ex-dividend date is Friday, November 15th.

Sabra Health Care REIT has decreased its dividend payment by an average of 3.9% annually over the last three years. Sabra Health Care REIT has a dividend payout ratio of 176.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Sabra Health Care REIT to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 82.8%.

Sabra Health Care REIT Trading Down 4.2 %

Shares of SBRA stock opened at $18.71 on Thursday. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average price of $18.56 and a two-hundred day moving average price of $16.50. Sabra Health Care REIT has a 12-month low of $12.83 and a 12-month high of $20.03. The firm has a market cap of $4.43 billion, a P/E ratio of 45.63, a price-to-earnings-growth ratio of 2.45 and a beta of 1.25.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.22). Sabra Health Care REIT had a return on equity of 3.51% and a net margin of 14.20%. The firm had revenue of $178.00 million for the quarter, compared to the consensus estimate of $177.19 million. During the same period last year, the firm earned $0.34 EPS. Equities analysts anticipate that Sabra Health Care REIT will post 1.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SBRA has been the subject of a number of recent research reports. Citigroup raised Sabra Health Care REIT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $17.00 to $20.00 in a research note on Friday, September 13th. Scotiabank boosted their target price on Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. Truist Financial boosted their target price on Sabra Health Care REIT from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $16.00 to $20.00 in a research note on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.71.

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.