Sabra Health Care REIT (NASDAQ:SBRA) Stock Rating Upgraded by Citizens Jmp

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

SBRA has been the topic of several other reports. 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. Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $16.00 to $20.00 in a report on Tuesday, October 1st. Scotiabank increased their target price on 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. Citigroup raised Sabra Health Care REIT from a “neutral” rating to a “buy” rating and boosted their price target for the company from $17.00 to $20.00 in a research note on Friday, September 13th. Finally, Mizuho reissued a “neutral” rating and issued a $20.00 target price 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Sabra Health Care REIT has a consensus rating of “Moderate Buy” and an average price target of $19.25.

Sabra Health Care REIT Stock Performance

SBRA opened at $16.80 on Tuesday. 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 has a market capitalization of $3.97 billion, a PE ratio of 40.98, a price-to-earnings-growth ratio of 2.20 and a beta of 1.26. The business has a fifty day simple moving average of $18.05 and a 200 day simple moving average of $17.44. Sabra Health Care REIT has a 1 year low of $12.83 and a 1 year high of $20.03.

Sabra Health Care REIT (NASDAQ:SBRA) last announced 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 the consensus estimate of $177.19 million. During the same period in the previous year, the firm posted $0.34 EPS. Research analysts expect that Sabra Health Care REIT will post 1.39 EPS for the current year.

Sabra Health Care REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.14%. The ex-dividend date of this dividend was Friday, November 15th. Sabra Health Care REIT’s payout ratio is 292.68%.

Institutional Investors Weigh In On Sabra Health Care REIT

A number of hedge funds and other institutional investors have recently bought and sold shares of SBRA. JPMorgan Chase & Co. boosted its stake in shares of Sabra Health Care REIT by 222.4% during the third quarter. JPMorgan Chase & Co. now owns 9,886,917 shares of the real estate investment trust’s stock valued at $183,996,000 after purchasing an additional 6,819,919 shares in the last quarter. Wellington Management Group LLP boosted 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 buying an additional 2,110,307 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 acquiring an additional 1,073,530 shares during the last quarter. Point72 Asset Management L.P. increased its position in Sabra Health Care REIT by 152.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,732,274 shares of the real estate investment trust’s stock valued at $26,677,000 after acquiring an additional 1,046,748 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in shares of Sabra Health Care REIT by 1,557.9% during the third quarter. Thrivent Financial for Lutherans now owns 927,309 shares of the real estate investment trust’s stock valued at $17,258,000 after acquiring an additional 871,375 shares during the last quarter. Institutional investors own 99.40% of the company’s stock.

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.