Sabra Health Care REIT (SBRA) Set to Announce Earnings on Thursday

Sabra Health Care REIT (NASDAQ:SBRA) is scheduled to be releasing its earnings data after the market closes on Thursday, October 31st. Analysts expect Sabra Health Care REIT to post earnings of $0.35 per share for the quarter. Sabra Health Care REIT has set its FY24 guidance at $1.39-1.42 EPS and its FY 2024 guidance at 1.360-1.390 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.24). The business had revenue of $176.14 million during the quarter, compared to the consensus estimate of $166.54 million. Sabra Health Care REIT had a net margin of 7.83% and a return on equity of 1.87%. Sabra Health Care REIT’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 EPS. On average, analysts expect Sabra Health Care REIT to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Sabra Health Care REIT Stock Up 1.0 %

Shares of NASDAQ:SBRA opened at $19.27 on Wednesday. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.89. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 96.35, a PEG ratio of 2.69 and a beta of 1.26. The business’s 50 day moving average is $18.04 and its 200 day moving average is $16.09. Sabra Health Care REIT has a 12-month low of $12.83 and a 12-month high of $19.33.

Sabra Health Care REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.23%. The ex-dividend date of this dividend was Monday, August 19th. Sabra Health Care REIT’s dividend payout ratio (DPR) is presently 600.00%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company upgraded Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $16.00 to $20.00 in a research note on Tuesday, October 1st. Truist Financial lifted their price objective on shares of 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. Scotiabank lifted their price objective 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. Finally, Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $17.00 to $20.00 in a research report on Friday, September 13th. One research analyst has 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 company currently has an average rating of “Moderate Buy” and an average target price of $18.38.

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.