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

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) declared a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be paid a dividend of 0.30 per share by the real estate investment trust on Friday, February 28th. This represents a $1.20 annualized dividend and a dividend yield of 7.39%. The ex-dividend date of this dividend is Friday, February 14th.

Sabra Health Care REIT has increased its dividend by an average of 24.3% annually over the last three years. Sabra Health Care REIT has a dividend payout ratio of 160.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Price Performance

Shares of SBRA opened at $16.24 on Wednesday. Sabra Health Care REIT has a twelve month low of $13.26 and a twelve month high of $20.03. The company has a market capitalization of $3.84 billion, a P/E ratio of 39.61, a price-to-earnings-growth ratio of 2.02 and a beta of 1.25. The firm has a 50 day moving average of $17.09 and a 200 day moving average of $17.63. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.90.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SBRA shares. Citizens Jmp upgraded shares of Sabra Health Care REIT from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Truist Financial downgraded shares of Sabra Health Care REIT from a “buy” rating to a “hold” rating and cut their target price for the stock from $18.00 to $17.00 in a research report on Friday, January 17th. JMP Securities raised Sabra Health Care REIT from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a report on Tuesday, January 7th. Finally, Mizuho restated a “neutral” rating and issued a $20.00 price target on shares of Sabra Health Care REIT in a research note on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.86.

About Sabra Health Care REIT

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.