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

Sabra Health Care REIT (NASDAQ:SBRA) had its price target upped by Scotiabank from $15.00 to $17.00 in a research note issued 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 raised their target price on shares of Sabra Health Care REIT from $15.00 to $16.00 and gave the company a buy rating in a report on Thursday, June 27th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $16.60.

Sabra Health Care REIT Stock Up 0.2 %

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

Sabra Health Care REIT (NASDAQ:SBRA) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $176.14 million for the quarter, compared to analysts’ expectations of $166.54 million. During the same quarter last year, the business posted $0.34 earnings per share. The business’s revenue was up 9.3% compared to the same quarter last year. As a group, analysts expect that Sabra Health Care REIT will post 1.37 EPS for the current year.

Sabra Health Care REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 19th will be issued 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 dividend yield of 7.13%. Sabra Health Care REIT’s dividend payout ratio (DPR) is presently 600.00%.

Institutional Investors Weigh In On Sabra Health Care REIT

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Sabra Health Care REIT by 2.5% in the first 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 last quarter. Principal Financial Group Inc. boosted its position in shares of Sabra Health Care REIT by 0.4% in the first quarter. Principal Financial Group Inc. now owns 21,571,121 shares of the real estate investment trust’s stock worth $318,605,000 after acquiring an additional 83,842 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Sabra Health Care REIT by 2.9% in the first quarter. Janus Henderson Group PLC now owns 5,199,682 shares of the real estate investment trust’s stock worth $76,701,000 after acquiring an additional 145,548 shares during the last quarter. LSV Asset Management boosted its position in shares of Sabra Health Care REIT by 2.5% in the fourth quarter. LSV Asset Management now owns 4,385,615 shares of the real estate investment trust’s stock worth $62,583,000 after acquiring an additional 107,266 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Sabra Health Care REIT by 2.3% in the fourth 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 acquiring an additional 94,304 shares during the last quarter. 99.40% of the stock is currently owned by hedge funds and other institutional investors.

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.