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

Sabra Health Care REIT (NASDAQ:SBRA) had its target price upped by Scotiabank from $15.00 to $17.00 in a report released on Monday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Separately, Truist Financial increased their price objective 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $16.60.

Sabra Health Care REIT Stock Up 0.1 %

NASDAQ SBRA opened at $16.79 on Monday. The stock’s 50-day moving average price is $16.00 and its 200-day moving average price is $14.81. 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 has a 52 week low of $12.10 and a 52 week high of $16.94. The company has a market capitalization of $3.93 billion, a P/E ratio of 83.95, a price-to-earnings-growth ratio of 2.34 and a beta of 1.24.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $166.54 million. During the same period last year, the business earned $0.34 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that Sabra Health Care REIT will post 1.37 earnings per share for the current year.

Sabra Health Care REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 19th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 7.15%. The ex-dividend date of this dividend is Monday, August 19th. Sabra Health Care REIT’s dividend payout ratio is presently 600.00%.

Hedge Funds Weigh In On Sabra Health Care REIT

Several institutional investors have recently bought and sold shares of SBRA. Family Firm Inc. bought a new position in shares of Sabra Health Care REIT in the 2nd quarter valued at about $26,000. GAMMA Investing LLC bought a new stake in shares of Sabra Health Care REIT in the 4th quarter valued at approximately $33,000. Neo Ivy Capital Management purchased a new position in shares of Sabra Health Care REIT in the 4th quarter worth approximately $41,000. Principal Securities Inc. bought a new position in shares of Sabra Health Care REIT during the 4th quarter valued at approximately $46,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Sabra Health Care REIT during the 4th quarter valued at $56,000. Institutional investors own 99.40% of the company’s stock.

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.