Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $18.71.
A number of equities analysts recently commented on SBRA shares. Citigroup raised Sabra Health Care REIT from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $17.00 to $20.00 in a research note on Friday, September 13th. Scotiabank raised 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. Wells Fargo & Company raised shares of Sabra Health Care REIT from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $16.00 to $20.00 in a research report on Tuesday, October 1st. Finally, Truist Financial increased their target price on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the company a "buy" rating in a report on Wednesday, September 4th.
View Our Latest Stock Report on Sabra Health Care REIT
A number of hedge funds and other institutional investors have recently modified their holdings of SBRA. Wellington Management Group LLP increased its holdings in shares of Sabra Health Care REIT by 736.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,396,835 shares of the real estate investment trust's stock worth $44,605,000 after purchasing an additional 2,110,307 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Sabra Health Care REIT by 324.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,404,576 shares of the real estate investment trust's stock valued at $26,139,000 after acquiring an additional 1,073,530 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Sabra Health Care REIT by 152.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,732,274 shares of the real estate investment trust's stock valued at $26,677,000 after acquiring an additional 1,046,748 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Sabra Health Care REIT by 1,557.9% in the third quarter. Thrivent Financial for Lutherans now owns 927,309 shares of the real estate investment trust's stock worth $17,258,000 after acquiring an additional 871,375 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Sabra Health Care REIT in the second quarter valued at $12,972,000. 99.40% of the stock is owned by hedge funds and other institutional investors.
SBRA opened at $18.11 on Tuesday. The stock has a fifty day moving average of $18.61 and a 200-day moving average of $16.60. Sabra Health Care REIT has a fifty-two week low of $12.83 and a fifty-two week high of $20.03. The company has a market capitalization of $4.28 billion, a P/E ratio of 44.17, a P/E/G ratio of 2.28 and a beta of 1.25. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.16 and a current ratio of 4.16.
Sabra Health Care REIT (NASDAQ:SBRA - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.22). The firm had revenue of $178.00 million for the quarter, compared to the consensus estimate of $177.19 million. Sabra Health Care REIT had a return on equity of 3.51% and a net margin of 14.20%. During the same period last year, the company posted $0.34 EPS. On average, equities analysts expect that Sabra Health Care REIT will post 1.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date of this dividend is Friday, November 15th. Sabra Health Care REIT's payout ratio is currently 292.68%.
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.
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