Sabra Health Care REIT (SBRA) Set to Announce Earnings on Thursday

Sabra Health Care REIT (NASDAQ:SBRA) is set to issue its quarterly earnings data after the market closes on Thursday, October 31st. Analysts expect the company to announce earnings of $0.35 per share for the quarter. Sabra Health Care REIT has set its FY24 guidance at $1.39-1.42 EPS and its FY 2024 guidance at 1.360-1.390 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $176.14 million for the quarter, compared to analysts’ expectations of $166.54 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, analysts expect Sabra Health Care REIT to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Sabra Health Care REIT Price Performance

SBRA stock opened at $19.27 on Wednesday. Sabra Health Care REIT has a 1 year low of $12.83 and a 1 year high of $19.33. The firm has a 50-day moving average of $18.04 and a 200 day moving average of $16.09. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.27 and a quick ratio of 4.27. The company has a market cap of $4.46 billion, a P/E ratio of 96.35, a PEG ratio of 2.69 and a beta of 1.26.

Sabra Health Care REIT Dividend Announcement

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 $0.30 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 annualized dividend and a yield of 6.23%. Sabra Health Care REIT’s payout ratio is 600.00%.

Analysts Set New Price Targets

SBRA has been the topic of a number of recent research reports. Truist Financial upped their price objective on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Scotiabank lifted their price objective 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. 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. Finally, Citigroup raised shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and upped their price target for the company from $17.00 to $20.00 in a research report on Friday, September 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.38.

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.