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

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) declared a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be given a dividend of 0.30 per share by the real estate investment trust on Friday, February 28th. This represents a $1.20 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date of this dividend is Friday, February 14th.

Sabra Health Care REIT has raised its dividend by an average of 24.3% per year over the last three years. Sabra Health Care REIT has a payout ratio of 160.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 1.1 %

Shares of SBRA traded down $0.19 during midday trading on Tuesday, reaching $16.72. The company had a trading volume of 1,941,846 shares, compared to its average volume of 1,659,170. The firm has a 50 day simple moving average of $17.33 and a 200-day simple moving average of $17.62. 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 stock has a market cap of $3.96 billion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. Sabra Health Care REIT has a 1-year low of $12.83 and a 1-year high of $20.03.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Scotiabank lifted their price target on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Mizuho reissued a “neutral” rating and issued a $20.00 target price on shares of Sabra Health Care REIT in a research report on Thursday, December 5th. Citizens Jmp upgraded Sabra Health Care REIT from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Truist Financial cut Sabra Health Care REIT from a “buy” rating to a “hold” rating and dropped their price objective 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 target price for the company in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.86.

Sabra Health Care REIT Company 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.