Sabra Health Care REIT (NASDAQ:SBRA) Price Target Raised to $17.00 at Scotiabank

Sabra Health Care REIT (NASDAQ:SBRA) had its price objective increased by Scotiabank from $15.00 to $17.00 in a research report sent to investors on Monday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Separately, Truist Financial increased their price target on Sabra Health Care REIT from $15.00 to $16.00 and gave the company a buy rating in a research report on Thursday, June 27th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Sabra Health Care REIT has a consensus rating of Moderate Buy and an average target price of $16.60.

Sabra Health Care REIT Trading Up 0.2 %

NASDAQ:SBRA opened at $16.83 on Monday. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.89. Sabra Health Care REIT has a 1-year low of $12.31 and a 1-year high of $16.94. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 84.15, a price-to-earnings-growth ratio of 2.39 and a beta of 1.24. The stock has a fifty day simple moving average of $16.04 and a 200 day simple moving average of $14.82.

Sabra Health Care REIT (NASDAQ:SBRA) last released its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). Sabra Health Care REIT had a net margin of 7.83% and a return on equity of 1.87%. The company had revenue of $176.14 million during the quarter, compared to analyst estimates of $166.54 million. During the same quarter last year, the business earned $0.34 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. Sell-side analysts forecast that Sabra Health Care REIT will post 1.37 earnings per share for the current year.

Sabra Health Care REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 19th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a yield of 7.13%. Sabra Health Care REIT’s payout ratio is presently 600.00%.

Institutional Investors Weigh In On Sabra Health Care REIT

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Sabra Health Care REIT by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 34,972,611 shares of the real estate investment trust’s stock worth $516,545,000 after acquiring an additional 838,654 shares during the period. Principal Financial Group Inc. raised its stake in shares of Sabra Health Care REIT by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 21,571,121 shares of the real estate investment trust’s stock worth $318,605,000 after purchasing an additional 83,842 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Sabra Health Care REIT by 2.9% during the 1st quarter. Janus Henderson Group PLC now owns 5,199,682 shares of the real estate investment trust’s stock worth $76,701,000 after purchasing an additional 145,548 shares in the last quarter. LSV Asset Management raised its stake in shares of Sabra Health Care REIT by 2.5% during the 4th quarter. LSV Asset Management now owns 4,385,615 shares of the real estate investment trust’s stock worth $62,583,000 after purchasing an additional 107,266 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Sabra Health Care REIT by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,190,587 shares of the real estate investment trust’s stock worth $59,800,000 after purchasing an additional 94,304 shares in the last quarter. 99.40% of the stock is currently owned by institutional investors and hedge funds.

Sabra Health Care REIT Company Profile

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.