Sabra Health Care REIT (NASDAQ:SBRA) Reaches New 12-Month High – What’s Next?

Sabra Health Care REIT, Inc. (NASDAQ:SBRA)’s stock price hit a new 52-week high on Monday . The stock traded as high as $19.79 and last traded at $19.70, with a volume of 352241 shares trading hands. The stock had previously closed at $19.55.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SBRA shares. Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $17.00 to $20.00 in a research note on Friday, September 13th. Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $16.00 to $20.00 in a research report on Tuesday, October 1st. Scotiabank upped their price target on Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Finally, Truist Financial lifted their price objective on Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One research 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, Sabra Health Care REIT presently has an average rating of “Moderate Buy” and a consensus target price of $18.71.

Sabra Health Care REIT Price Performance

The firm’s 50-day moving average is $18.53 and its 200-day moving average is $16.48. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.90. The company has a market cap of $4.43 billion, a PE ratio of 45.63, a PEG ratio of 2.45 and a beta of 1.25.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). Sabra Health Care REIT had a net margin of 14.20% and a return on equity of 3.51%. The business had revenue of $178.00 million for the quarter, compared to analysts’ expectations of $177.19 million. During the same period last year, the business earned $0.34 earnings per share. On average, equities analysts anticipate that Sabra Health Care REIT, Inc. will post 1.39 EPS for the current year.

Sabra Health Care REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.41%. The ex-dividend date of this dividend is Friday, November 15th. Sabra Health Care REIT’s dividend payout ratio (DPR) is 292.68%.

Institutional Investors Weigh In On Sabra Health Care REIT

Several institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its position in Sabra Health Care REIT by 73.1% during the third quarter. BNP Paribas Financial Markets now owns 208,983 shares of the real estate investment trust’s stock valued at $3,889,000 after buying an additional 88,220 shares during the period. Quantbot Technologies LP increased its holdings in Sabra Health Care REIT by 437.1% in the 3rd quarter. Quantbot Technologies LP now owns 56,560 shares of the real estate investment trust’s stock worth $1,053,000 after acquiring an additional 46,030 shares in the last quarter. FMR LLC raised its stake in Sabra Health Care REIT by 89.7% during the 3rd quarter. FMR LLC now owns 1,599,532 shares of the real estate investment trust’s stock worth $29,767,000 after acquiring an additional 756,418 shares during the period. Hancock Whitney Corp lifted its holdings in Sabra Health Care REIT by 0.7% during the third quarter. Hancock Whitney Corp now owns 194,819 shares of the real estate investment trust’s stock valued at $3,626,000 after purchasing an additional 1,352 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of Sabra Health Care REIT by 160.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 11,547 shares of the real estate investment trust’s stock worth $215,000 after purchasing an additional 7,122 shares during the period. 99.40% of the stock is owned by hedge funds and other institutional investors.

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.