Sabra Health Care REIT (NASDAQ:SBRA) Upgraded by Citizens Jmp to Strong-Buy Rating

Citizens Jmp upgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from a hold rating to a strong-buy rating in a report issued on Tuesday,Zacks.com reports.

Several other research analysts have also recently issued reports on SBRA. Scotiabank increased their target price on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $16.00 to $20.00 in a report on Tuesday, October 1st. Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and increased their target price for the stock from $17.00 to $20.00 in a report on Friday, September 13th. Mizuho reiterated a “neutral” rating and set a $20.00 target price on shares of Sabra Health Care REIT in a report on Thursday, December 5th. Finally, JMP Securities upgraded shares of Sabra Health Care REIT from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Tuesday. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.25.

Sabra Health Care REIT Trading Up 2.3 %

SBRA stock opened at $17.18 on Tuesday. The company has a market capitalization of $4.06 billion, a PE ratio of 41.90, a P/E/G ratio of 2.20 and a beta of 1.26. Sabra Health Care REIT has a 12 month low of $12.83 and a 12 month high of $20.03. The firm’s 50-day moving average is $17.96 and its 200 day moving average is $17.43. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.16 and a quick ratio of 4.16.

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

Sabra Health Care REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.98%. The ex-dividend date of this dividend was Friday, November 15th. Sabra Health Care REIT’s dividend payout ratio is currently 292.68%.

Institutional Trading of Sabra Health Care REIT

A number of institutional investors have recently bought and sold shares of SBRA. JPMorgan Chase & Co. grew its position in Sabra Health Care REIT by 222.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,886,917 shares of the real estate investment trust’s stock worth $183,996,000 after purchasing an additional 6,819,919 shares during the last quarter. Wellington Management Group LLP grew its position in Sabra Health Care REIT by 736.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,396,835 shares of the real estate investment trust’s stock worth $44,605,000 after purchasing an additional 2,110,307 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Sabra Health Care REIT by 324.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,404,576 shares of the real estate investment trust’s stock worth $26,139,000 after purchasing an additional 1,073,530 shares during the last quarter. Point72 Asset Management L.P. grew its position in Sabra Health Care REIT by 152.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,732,274 shares of the real estate investment trust’s stock worth $26,677,000 after purchasing an additional 1,046,748 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Sabra Health Care REIT by 1,557.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 927,309 shares of the real estate investment trust’s stock worth $17,258,000 after purchasing an additional 871,375 shares during the last quarter. 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.