Sabra Health Care REIT (NASDAQ:SBRA) Upgraded to Buy by Citigroup

Citigroup upgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from a neutral rating to a buy rating in a research report released on Friday morning, Marketbeat.com reports. They currently have $20.00 target price on the real estate investment trust’s stock, up from their prior target price of $17.00.

Several other research firms have also recently weighed in on SBRA. Scotiabank increased their price objective on 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. Truist Financial raised their price target 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. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $17.09.

Sabra Health Care REIT Stock Performance

NASDAQ SBRA opened at $18.59 on Friday. The stock has a market cap of $4.35 billion, a PE ratio of 92.95, a P/E/G ratio of 2.59 and a beta of 1.26. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.27 and a current ratio of 4.27. The firm has a 50-day moving average of $16.57 and a 200-day moving average of $15.11. Sabra Health Care REIT has a 52-week low of $12.83 and a 52-week high of $18.67.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings data 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 company had revenue of $176.14 million for the quarter, compared to analyst estimates of $166.54 million. Sabra Health Care REIT had a return on equity of 1.87% and a net margin of 7.83%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $0.34 earnings per share. On average, sell-side analysts anticipate that Sabra Health Care REIT will post 1.37 EPS for the current year.

Sabra Health Care REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 annualized dividend and a yield of 6.46%. Sabra Health Care REIT’s dividend payout ratio is currently 600.00%.

Institutional Investors Weigh In On Sabra Health Care REIT

A number of large investors have recently modified their holdings of the business. State of Alaska Department of Revenue lifted its position in shares of Sabra Health Care REIT by 0.6% during the 1st quarter. State of Alaska Department of Revenue now owns 135,087 shares of the real estate investment trust’s stock worth $1,993,000 after buying an additional 755 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Sabra Health Care REIT by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 290,353 shares of the real estate investment trust’s stock valued at $4,289,000 after purchasing an additional 761 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Sabra Health Care REIT by 0.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 136,667 shares of the real estate investment trust’s stock valued at $1,931,000 after purchasing an additional 825 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Sabra Health Care REIT by 5.4% during the 4th quarter. Parallel Advisors LLC now owns 17,655 shares of the real estate investment trust’s stock valued at $252,000 after purchasing an additional 906 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in Sabra Health Care REIT by 1.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 64,952 shares of the real estate investment trust’s stock worth $959,000 after purchasing an additional 928 shares in the last quarter. Institutional investors and hedge funds 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.