Brokerages Set Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Price Target at $17.30

by · The Markets Daily

Sabra Health Care REIT, Inc. (NASDAQ:SBRA – Get Free Report) has earned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $17.80.

Several equities research analysts have issued reports on the stock. Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $17.00 to $20.00 in a research report on Friday, September 13th. Truist Financial raised their price objective on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Scotiabank raised their price objective on shares of Sabra Health Care REIT from $15.00 to $17.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Finally, Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $16.00 to $20.00 in a research report on Tuesday, October 1st.

View Our Latest Research Report on SBRA

Sabra Health Care REIT Trading Down 1.4 %

Shares of NASDAQ:SBRA opened at $17.97 on Monday. Sabra Health Care REIT has a 52-week low of $12.83 and a 52-week high of $19.32. The company has a market capitalization of $4.16 billion, a P/E ratio of 89.85, a price-to-earnings-growth ratio of 2.64 and a beta of 1.26. The company has a 50-day simple moving average of $17.32 and a 200 day simple moving average of $15.60. 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 (NASDAQ:SBRA – Get Free Report) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.24). The firm had revenue of $176.14 million during the quarter, compared to analyst estimates of $166.54 million. Sabra Health Care REIT had a net margin of 7.83% and a return on equity of 1.87%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.34 earnings per share. Sell-side analysts forecast that Sabra Health Care REIT will post 1.38 earnings per share for the current year.

Sabra Health Care REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.68%. Sabra Health Care REIT’s payout ratio is 600.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SBRA. Point72 Asset Management L.P. increased its stake in Sabra Health Care REIT by 152.7% in the second 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. Millennium Management LLC bought a new position in Sabra Health Care REIT in the second quarter valued at approximately $12,972,000. Vanguard Group Inc. increased its stake in 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 valued at $516,545,000 after acquiring an additional 838,654 shares during the last quarter. APG Asset Management US Inc. increased its stake in Sabra Health Care REIT by 28.9% in the second quarter. APG Asset Management US Inc. now owns 2,562,962 shares of the real estate investment trust’s stock valued at $39,495,000 after acquiring an additional 575,000 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Sabra Health Care REIT by 77.0% in the second quarter. Renaissance Technologies LLC now owns 1,287,279 shares of the real estate investment trust’s stock valued at $19,824,000 after acquiring an additional 559,800 shares during the last quarter. 99.40% of the stock is owned by institutional investors.

Sabra Health Care REIT Company Profile

(Get Free Report

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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