Sabra Health Care REIT, Inc. (SBRA) to Issue Quarterly Dividend of $0.30 on November 29th

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) announced a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.30 per share by the real estate investment trust on Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date is Friday, November 15th.

Sabra Health Care REIT has decreased its dividend payment by an average of 3.9% per year over the last three years. Sabra Health Care REIT has a payout ratio of 176.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Performance

NASDAQ SBRA opened at $19.54 on Wednesday. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.90. Sabra Health Care REIT has a twelve month low of $12.83 and a twelve month high of $20.03. The stock has a 50-day moving average of $18.53 and a 200 day moving average of $16.48. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 47.66, a PEG ratio of 2.81 and a beta of 1.25.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its quarterly earnings data 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 company had revenue of $178.00 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $0.34 earnings per share. Sell-side analysts anticipate that Sabra Health Care REIT will post 1.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SBRA shares. Truist Financial upped their target price on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Wells Fargo & Company raised shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $16.00 to $20.00 in a report on Tuesday, October 1st. Scotiabank increased their price target on shares of 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. Finally, Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and lifted their target price for the company from $17.00 to $20.00 in a research report on Friday, September 13th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.71.

About Sabra Health Care REIT

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.