Sabra Health Care REIT (NASDAQ:SBRA) PT Raised to $16.00 at Truist Financial

Sabra Health Care REIT (NASDAQ:SBRA) had its target price increased by analysts at Truist Financial from $15.00 to $16.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target would indicate a potential upside of 3.90% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $17.00 price objective on shares of Sabra Health Care REIT in a research report on Thursday, February 29th. Scotiabank increased their price target on shares of Sabra Health Care REIT from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 15th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.79.

Sabra Health Care REIT Price Performance

Shares of SBRA stock opened at $15.40 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.33 and a current ratio of 4.33. Sabra Health Care REIT has a fifty-two week low of $11.57 and a fifty-two week high of $15.43. The firm has a market cap of $3.57 billion, a P/E ratio of 77.00, a P/E/G ratio of 2.37 and a beta of 1.22. The business’s 50 day moving average price is $14.37 and its 200-day moving average price is $14.11.

Insiders Place Their Bets

In related news, Director Catherine Cusack purchased 7,000 shares of Sabra Health Care REIT stock in a transaction dated Wednesday, May 22nd. The stock was purchased at an average cost of $14.43 per share, for a total transaction of $101,010.00. Following the completion of the acquisition, the director now directly owns 46,385 shares of the company’s stock, valued at $669,335.55. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Sabra Health Care REIT

A number of institutional investors have recently made changes to their positions in the company. Bright Futures Wealth Management LLC. purchased a new position in Sabra Health Care REIT in the 1st quarter worth approximately $548,000. Cetera Advisors LLC increased its holdings in shares of Sabra Health Care REIT by 996.2% in the 1st quarter. Cetera Advisors LLC now owns 149,574 shares of the real estate investment trust’s stock worth $2,209,000 after purchasing an additional 135,929 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Sabra Health Care REIT by 34.1% in the first quarter. Cetera Investment Advisers now owns 406,675 shares of the real estate investment trust’s stock worth $6,007,000 after purchasing an additional 103,413 shares during the last quarter. EMC Capital Management lifted its holdings in shares of Sabra Health Care REIT by 6.2% during the first quarter. EMC Capital Management now owns 23,972 shares of the real estate investment trust’s stock valued at $354,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Sabra Health Care REIT by 2.9% during the first quarter. Janus Henderson Group PLC now owns 5,199,682 shares of the real estate investment trust’s stock valued at $76,701,000 after buying an additional 145,548 shares during the last quarter. Hedge funds and other institutional investors own 99.40% of the company’s stock.

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.