Sabra Health Care REIT (NASDAQ:SBRA) Hits New 52-Week High at $18.97

Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) reached a new 52-week high on Tuesday . The company traded as high as $18.97 and last traded at $18.97, with a volume of 460 shares trading hands. The stock had previously closed at $18.79.

Analyst Upgrades and Downgrades

SBRA has been the topic of several research reports. Truist Financial upped their price objective on Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Citigroup raised shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and raised their target price for the company from $17.00 to $20.00 in a research report on Friday. Finally, Scotiabank increased their price objective on Sabra Health Care REIT from $15.00 to $17.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Sabra Health Care REIT has an average rating of “Moderate Buy” and a consensus price target of $17.09.

Sabra Health Care REIT Trading Up 0.7 %

The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.89. The firm has a 50-day moving average of $16.64 and a 200 day moving average of $15.16. The company has a market cap of $4.38 billion, a P/E ratio of 93.95, a price-to-earnings-growth ratio of 2.65 and a beta of 1.26.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.24). Sabra Health Care REIT had a net margin of 7.83% and a return on equity of 1.87%. The business had revenue of $176.14 million for the quarter, compared to the consensus estimate of $166.54 million. During the same quarter in the previous year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts predict that Sabra Health Care REIT, Inc. will post 1.37 earnings per share for the current fiscal year.

Sabra Health Care REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date of this dividend was Monday, August 19th. Sabra Health Care REIT’s dividend payout ratio (DPR) is currently 600.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SBRA. Norges Bank purchased a new stake in shares of Sabra Health Care REIT in the fourth quarter worth approximately $31,605,000. Point72 Asset Management L.P. raised its position in Sabra Health Care REIT by 152.7% during the second 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 purchasing an additional 1,046,748 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Sabra Health Care REIT in the 2nd quarter valued at $12,972,000. Vanguard Group Inc. increased its stake in Sabra Health Care REIT by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 34,972,611 shares of the real estate investment trust’s stock worth $516,545,000 after purchasing an additional 838,654 shares during the period. Finally, APG Asset Management US Inc. raised its stake 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 valued at $22,732,000 after acquiring an additional 762,002 shares during the last quarter. 99.40% of the stock is owned by institutional investors and hedge funds.

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.