Brokerages Set Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Target Price at $19.14

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $19.14.

SBRA has been the subject of a number of recent research reports. Truist Financial increased their price target on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $16.00 to $20.00 in a report on Tuesday, October 1st. Scotiabank upped 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 note on Friday, October 11th. Mizuho reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Sabra Health Care REIT in a research report on Thursday, December 5th. Finally, Citigroup raised 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 report on Friday, September 13th.

Institutional Investors Weigh In On Sabra Health Care REIT

Several institutional investors have recently made changes to their positions in SBRA. Wellington Management Group LLP lifted its stake in shares of Sabra Health Care REIT by 736.5% in the third quarter. Wellington Management Group LLP now owns 2,396,835 shares of the real estate investment trust’s stock valued at $44,605,000 after purchasing an additional 2,110,307 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 valued at $26,139,000 after acquiring an additional 1,073,530 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of 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 acquiring an additional 1,046,748 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of 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 acquiring an additional 871,375 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Sabra Health Care REIT in the 2nd quarter valued at approximately $12,972,000. 99.40% of the stock is currently owned by hedge funds and other institutional investors.

Sabra Health Care REIT Price Performance

Shares of NASDAQ:SBRA opened at $16.90 on Friday. Sabra Health Care REIT has a 12 month low of $12.83 and a 12 month high of $20.03. The firm has a market capitalization of $4.00 billion, a P/E ratio of 41.22, a P/E/G ratio of 2.20 and a beta of 1.24. 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 company’s fifty day moving average price is $18.48 and its 200 day moving average price is $17.15.

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 for the quarter, missing the consensus estimate of $0.35 by ($0.22). The firm had revenue of $178.00 million during the quarter, compared to analysts’ expectations of $177.19 million. Sabra Health Care REIT had a net margin of 14.20% and a return on equity of 3.51%. During the same period in the previous year, the firm posted $0.34 earnings per share. As a group, sell-side analysts predict that Sabra Health Care REIT will post 1.39 earnings per share for the current fiscal year.

Sabra Health Care REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 7.10%. The ex-dividend date of this dividend was Friday, November 15th. Sabra Health Care REIT’s dividend payout ratio (DPR) is currently 292.68%.

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.