Sabra Health Care REIT, Inc. to Issue 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. Stockholders of record on Friday, November 15th will be given 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 dividend yield of 6.14%. The ex-dividend date of this dividend is Friday, November 15th.

Sabra Health Care REIT has decreased its dividend by an average of 3.9% per year over the last three years. Sabra Health Care REIT has a 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 Stock Performance

NASDAQ:SBRA opened at $19.54 on Wednesday. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 47.66, a price-to-earnings-growth ratio of 2.81 and a beta of 1.25. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.16 and a quick ratio of 4.16. Sabra Health Care REIT has a 1-year low of $12.83 and a 1-year high of $20.03. The firm’s fifty day moving average price is $18.53 and its 200 day moving average price is $16.48.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Truist Financial increased their target price on Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $17.00 to $20.00 in a research report on Friday, September 13th. 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, Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $16.00 to $20.00 in a report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.71.

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.