Sabra Health Care REIT (NASDAQ:SBRA) Price Target Increased to $18.00 by Analysts at Scotiabank

Sabra Health Care REIT (NASDAQ:SBRA) had its price target increased by Scotiabank from $17.00 to $18.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

Several other research analysts have also issued reports on the company. Truist Financial increased their price target on Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a buy rating in a report on Wednesday, September 4th. Wells Fargo & Company upgraded Sabra Health Care REIT from an equal weight rating to an overweight rating and increased their price target for the stock from $16.00 to $20.00 in a report on Tuesday, October 1st. Finally, Citigroup upgraded Sabra Health Care REIT from a neutral rating to a buy rating and increased their price target for the stock from $17.00 to $20.00 in a report on Friday, September 13th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $18.11.

Sabra Health Care REIT Trading Up 0.9 %

Shares of SBRA stock opened at $18.18 on Friday. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 86.57, a PEG ratio of 2.55 and a beta of 1.26. The stock has a 50-day moving average of $17.52 and a 200-day moving average of $15.75. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.89. Sabra Health Care REIT has a 1-year low of $12.83 and a 1-year high of $19.32.

Sabra Health Care REIT (NASDAQ:SBRA) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 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 business had revenue of $176.14 million for the quarter, compared to analyst estimates of $166.54 million. During the same period in the prior year, the business earned $0.34 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that Sabra Health Care REIT will post 1.38 earnings per share for the current year.

Sabra Health Care REIT Announces Dividend

The firm also recently declared 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.60%. The ex-dividend date of this dividend was Monday, August 19th. Sabra Health Care REIT’s payout ratio is 571.43%.

Institutional Trading of Sabra Health Care REIT

A number of institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue increased its position in shares of Sabra Health Care REIT by 0.6% during the first quarter. State of Alaska Department of Revenue now owns 135,087 shares of the real estate investment trust’s stock valued at $1,993,000 after acquiring an additional 755 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Sabra Health Care REIT by 0.3% in the first quarter. Retirement Systems of Alabama now owns 290,353 shares of the real estate investment trust’s stock valued at $4,289,000 after buying an additional 761 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Sabra Health Care REIT by 1.4% in the first quarter. Commonwealth Equity Services LLC now owns 64,952 shares of the real estate investment trust’s stock valued at $959,000 after buying an additional 928 shares during the period. GAMMA Investing LLC raised its stake in shares of Sabra Health Care REIT by 25.3% in the third quarter. GAMMA Investing LLC now owns 4,614 shares of the real estate investment trust’s stock valued at $86,000 after buying an additional 932 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Sabra Health Care REIT by 2.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 48,448 shares of the real estate investment trust’s stock valued at $746,000 after buying an additional 1,168 shares during the period. 99.40% of the stock is owned by hedge funds and other institutional investors.

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.