Brokerages Set Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Price Target at $15.71

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) has earned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $15.71.

Several equities research analysts have issued reports on the stock. Scotiabank raised their price target on shares of Sabra Health Care REIT from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 15th. Wedbush reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Sabra Health Care REIT in a research note on Thursday, February 29th.

Sabra Health Care REIT Stock Up 2.2 %

SBRA opened at $14.96 on Friday. The firm has a market cap of $3.46 billion, a P/E ratio of 74.80, a PEG ratio of 2.32 and a beta of 1.22. The business’s fifty day simple moving average is $14.25 and its 200 day simple moving average is $14.09. Sabra Health Care REIT has a 52 week low of $11.41 and a 52 week high of $15.02. The company has a quick ratio of 4.33, a current ratio of 4.33 and a debt-to-equity ratio of 0.89.

Sabra Health Care REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 8.02%. The ex-dividend date was Friday, May 17th. Sabra Health Care REIT’s dividend payout ratio is currently 600.00%.

Insider Buying and Selling

In other Sabra Health Care REIT news, Director Catherine Cusack purchased 7,000 shares of Sabra Health Care REIT stock in a transaction on Wednesday, May 22nd. The shares were purchased at an average cost of $14.43 per share, with a total value of $101,010.00. Following the completion of the transaction, the director now directly owns 46,385 shares in the company, valued at approximately $669,335.55. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SBRA. JPMorgan Chase & Co. boosted its position in shares of Sabra Health Care REIT by 709.0% in the third quarter. JPMorgan Chase & Co. now owns 13,504,420 shares of the real estate investment trust’s stock worth $188,252,000 after buying an additional 11,835,109 shares during the period. Norges Bank purchased a new position in Sabra Health Care REIT in the 4th quarter worth approximately $31,605,000. Vanguard Group Inc. grew its position in Sabra Health Care REIT by 2.5% in the first quarter. Vanguard Group Inc. now owns 34,972,611 shares of the real estate investment trust’s stock valued at $516,545,000 after acquiring an additional 838,654 shares in the last quarter. Duff & Phelps Investment Management Co. raised its stake in shares of Sabra Health Care REIT by 58.8% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 2,101,595 shares of the real estate investment trust’s stock valued at $29,990,000 after purchasing an additional 778,355 shares during the period. Finally, APG Asset Management US Inc. lifted its position in shares of Sabra Health Care REIT by 91.7% during the fourth quarter. APG Asset Management US Inc. now owns 1,592,962 shares of the real estate investment trust’s stock worth $22,732,000 after purchasing an additional 762,002 shares in the last quarter. 99.40% of the stock is owned by hedge funds and other institutional investors.

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.