Sabra Health Care REIT (NASDAQ:SBRA) Rating Increased to Outperform at JMP Securities

JMP Securities upgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday, MarketBeat reports. The firm currently has $20.00 price target on the real estate investment trust’s stock.

SBRA has been the subject of several other reports. Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and lifted their price target for the company from $17.00 to $20.00 in a report on Friday, September 13th. Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $16.00 to $20.00 in a research note on Tuesday, October 1st. Scotiabank boosted 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 report on Friday, October 11th. Finally, Mizuho restated a “neutral” rating and set a $20.00 price target on shares of Sabra Health Care REIT in a report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.25.

Sabra Health Care REIT Stock Performance

Shares of SBRA opened at $16.80 on Tuesday. The company has a market capitalization of $3.97 billion, a PE ratio of 40.98, a PEG ratio of 2.20 and a beta of 1.26. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.16 and a current ratio of 4.16. The company’s 50 day moving average price is $18.05 and its 200 day moving average price is $17.44. Sabra Health Care REIT has a 52 week low of $12.83 and a 52 week high of $20.03.

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

Sabra Health Care REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.14%. The ex-dividend date of this dividend was Friday, November 15th. Sabra Health Care REIT’s dividend payout ratio is currently 292.68%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew 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 purchasing an additional 6,819,919 shares during the last quarter. Franklin Resources Inc. boosted its stake in Sabra Health Care REIT by 12.3% during the 3rd quarter. Franklin Resources Inc. now owns 524,917 shares of the real estate investment trust’s stock valued at $9,543,000 after purchasing an additional 57,551 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Sabra Health Care REIT in the 3rd quarter valued at approximately $59,000. Geode Capital Management LLC increased its position 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 worth $117,165,000 after buying an additional 104,533 shares during the period. Finally, Vestcor Inc lifted its holdings in shares of Sabra Health Care REIT by 62.5% during the third quarter. Vestcor Inc now owns 207,918 shares of the real estate investment trust’s stock worth $3,869,000 after buying an additional 79,956 shares during the last quarter. Institutional investors own 99.40% of the company’s stock.

About Sabra Health Care REIT

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.