Sabra Health Care REIT (NASDAQ:SBRA) Price Target Increased to $18.00 by Analysts at Truist Financial

Sabra Health Care REIT (NASDAQ:SBRA) had its price objective hoisted by Truist Financial from $16.00 to $18.00 in a research note released on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

Separately, Scotiabank raised their target price on shares of Sabra Health Care REIT from $15.00 to $17.00 and gave the stock a sector perform rating in a report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Sabra Health Care REIT presently has a consensus rating of Moderate Buy and an average price target of $16.80.

Sabra Health Care REIT Price Performance

NASDAQ SBRA opened at $17.30 on Wednesday. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 86.50, a PEG ratio of 2.46 and a beta of 1.24. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.27 and a quick ratio of 4.27. The stock’s fifty day moving average price is $16.23 and its 200 day moving average price is $14.92. Sabra Health Care REIT has a 1 year low of $12.41 and a 1 year high of $17.43.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). Sabra Health Care REIT had a net margin of 7.83% and a return on equity of 1.87%. The firm had revenue of $176.14 million during the quarter, compared to analyst estimates of $166.54 million. During the same period in the prior year, the company posted $0.34 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities research analysts forecast that Sabra Health Care REIT will post 1.37 earnings per share 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 issued 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 yield of 6.94%. Sabra Health Care REIT’s payout ratio is 600.00%.

Institutional Investors Weigh In On Sabra Health Care REIT

Institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Sabra Health Care REIT in the fourth quarter valued at approximately $31,605,000. Natixis acquired a new position in Sabra Health Care REIT during the first quarter worth $633,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Sabra Health Care REIT by 63.6% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 318,808 shares of the real estate investment trust’s stock valued at $4,709,000 after purchasing an additional 123,966 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Sabra Health Care REIT by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 21,487,279 shares of the real estate investment trust’s stock valued at $306,623,000 after purchasing an additional 484,086 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Sabra Health Care REIT by 170.2% in the fourth quarter. Russell Investments Group Ltd. now owns 399,215 shares of the real estate investment trust’s stock valued at $5,697,000 after purchasing an additional 251,482 shares during the period. 99.40% of the stock is currently owned by institutional investors and hedge funds.

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.