Sabra Health Care REIT (NASDAQ:SBRA) Cut to Hold at Truist Financial

Truist Financial downgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from a buy rating to a hold rating in a research note published on Friday morning, Marketbeat reports. The brokerage currently has $17.00 target price on the real estate investment trust’s stock, down from their previous target price of $18.00.

Several other equities research analysts have also recently commented on the stock. Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $16.00 to $20.00 in a report on Tuesday, October 1st. Mizuho restated a “neutral” rating and set a $20.00 price objective on shares of Sabra Health Care REIT in a research note on Thursday, December 5th. JMP Securities raised 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, January 7th. Citizens Jmp raised Sabra Health Care REIT from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Scotiabank raised their price objective 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. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sabra Health Care REIT currently has an average rating of “Moderate Buy” and an average price target of $19.13.

Sabra Health Care REIT Price Performance

SBRA opened at $16.94 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.16 and a current ratio of 4.16. Sabra Health Care REIT has a 52 week low of $12.83 and a 52 week high of $20.03. The company has a fifty day moving average price of $17.71 and a two-hundred day moving average price of $17.54. The firm has a market capitalization of $4.01 billion, a PE ratio of 41.32, a P/E/G ratio of 2.05 and a beta of 1.26.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its 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 during the quarter, compared to analyst estimates of $177.19 million. During the same period in the previous year, the firm posted $0.34 earnings per share. As a group, analysts anticipate that Sabra Health Care REIT will post 1.39 earnings per share 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 dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.08%. The ex-dividend date of this dividend was Friday, November 15th. Sabra Health Care REIT’s dividend payout ratio (DPR) is currently 292.69%.

Institutional Trading of Sabra Health Care REIT

Several institutional investors have recently added to or reduced their stakes in the stock. Inspire Investing LLC lifted its stake in Sabra Health Care REIT by 4.5% in the fourth quarter. Inspire Investing LLC now owns 23,152 shares of the real estate investment trust’s stock valued at $401,000 after buying an additional 992 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Sabra Health Care REIT by 0.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 177,161 shares of the real estate investment trust’s stock valued at $3,068,000 after acquiring an additional 763 shares during the period. SG Americas Securities LLC boosted its stake in Sabra Health Care REIT by 31.1% during the fourth quarter. SG Americas Securities LLC now owns 21,941 shares of the real estate investment trust’s stock worth $380,000 after acquiring an additional 5,204 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in Sabra Health Care REIT in the fourth quarter worth $202,000. Finally, ORG Partners LLC increased its stake in Sabra Health Care REIT by 2,031.8% in the fourth quarter. ORG Partners LLC now owns 25,283 shares of the real estate investment trust’s stock valued at $438,000 after purchasing an additional 24,097 shares in the last quarter. 99.40% of the stock is currently owned by 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.