Wells Fargo & Company Upgrades Sabra Health Care REIT (NASDAQ:SBRA) to Overweight

Wells Fargo & Company upgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from an equal weight rating to an overweight rating in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has $20.00 target price on the real estate investment trust’s stock, up from their previous target price of $16.00.

SBRA has been the topic of several other research reports. Citigroup upgraded shares of Sabra Health Care REIT from a neutral rating to a buy rating and increased their price objective for the stock from $17.00 to $20.00 in a research note on Friday, September 13th. Truist Financial increased their price target on 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. Finally, Scotiabank boosted their price objective on Sabra Health Care REIT from $15.00 to $17.00 and gave the company a sector perform rating in a research report on Monday, August 26th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Sabra Health Care REIT currently has a consensus rating of Moderate Buy and an average price target of $17.80.

Sabra Health Care REIT Price Performance

SBRA stock opened at $18.23 on Tuesday. The stock’s 50 day moving average is $17.25 and its two-hundred day moving average is $15.54. 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 $4.27 billion, a PE ratio of 91.15, a P/E/G ratio of 2.65 and a beta of 1.26. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.89.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.24). Sabra Health Care REIT had a return on equity of 1.87% and a net margin of 7.83%. The company had revenue of $176.14 million for the quarter, compared to the consensus estimate of $166.54 million. During the same period in the previous year, the business posted $0.34 EPS. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts predict that Sabra Health Care REIT will post 1.38 earnings per share for the current fiscal 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 paid a dividend of $0.30 per share. The ex-dividend date was Monday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 6.58%. Sabra Health Care REIT’s dividend payout ratio (DPR) is 600.00%.

Institutional Trading of Sabra Health Care REIT

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised 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 valued at $516,545,000 after purchasing an additional 838,654 shares during the period. Principal Financial Group Inc. grew its stake in Sabra Health Care REIT by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 21,571,121 shares of the real estate investment trust’s stock valued at $318,605,000 after buying an additional 83,842 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Sabra Health Care REIT by 2.9% in the 1st 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 period. LSV Asset Management lifted its position in Sabra Health Care REIT by 2.5% during the 2nd quarter. LSV Asset Management now owns 4,380,815 shares of the real estate investment trust’s stock worth $67,465,000 after acquiring an additional 104,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Sabra Health Care REIT by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,394,562 shares of the real estate investment trust’s stock worth $52,275,000 after acquiring an additional 124,825 shares during the last quarter. 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.