Sabra Health Care REIT (NASDAQ:SBRA) Upgraded at JMP Securities

JMP Securities upgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from a market perform rating to an outperform rating in a report issued on Tuesday morning, Marketbeat.com reports. They currently have $20.00 target price on the real estate investment trust’s stock.

SBRA has been the topic of several other research reports. Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $17.00 to $20.00 in a research note on Friday, September 13th. Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $16.00 to $20.00 in a research note on Tuesday, October 1st. Scotiabank boosted their target price on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Sabra Health Care REIT in a report on Thursday, December 5th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.25.

Sabra Health Care REIT Stock Up 2.3 %

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

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

Sabra Health Care REIT Dividend Announcement

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

Institutional Trading of Sabra Health Care REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. raised its holdings in Sabra Health Care REIT by 4.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 15,369 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 655 shares during the last quarter. GAMMA Investing LLC raised its holdings in Sabra Health Care REIT by 25.3% during the 3rd quarter. GAMMA Investing LLC now owns 4,614 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 932 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Sabra Health Care REIT by 2.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 48,448 shares of the real estate investment trust’s stock worth $746,000 after purchasing an additional 1,168 shares during the last quarter. Assetmark Inc. raised its holdings in Sabra Health Care REIT by 168.4% during the 3rd quarter. Assetmark Inc. now owns 1,962 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 1,231 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Sabra Health Care REIT by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 64,802 shares of the real estate investment trust’s stock worth $998,000 after purchasing an additional 1,258 shares during the last quarter. 99.40% of the stock is 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.