Sabra Health Care REIT (NASDAQ:SBRA) Releases Quarterly Earnings Results, Misses Estimates By $0.22 EPS

Sabra Health Care REIT (NASDAQ:SBRA) released its earnings results on Thursday. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22), Zacks reports. Sabra Health Care REIT had a return on equity of 3.50% and a net margin of 14.20%. The company had revenue of $178.00 million during the quarter, compared to analyst estimates of $177.19 million. During the same quarter last year, the business earned $0.34 earnings per share. Sabra Health Care REIT updated its FY 2024 guidance to 1.390-1.400 EPS.

Sabra Health Care REIT Price Performance

Shares of NASDAQ:SBRA traded down $0.76 during trading on Friday, reaching $18.64. 8,134,848 shares of the company’s stock traded hands, compared to its average volume of 1,540,569. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.89. Sabra Health Care REIT has a fifty-two week low of $12.83 and a fifty-two week high of $19.78. The company has a 50-day simple moving average of $18.21 and a 200-day simple moving average of $16.19. The firm has a market cap of $4.37 billion, a PE ratio of 45.46, a P/E/G ratio of 2.77 and a beta of 1.25.

Sabra Health Care REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.44%. Sabra Health Care REIT’s dividend payout ratio (DPR) is currently 292.69%.

Wall Street Analysts Forecast Growth

SBRA has been the topic of several research reports. Scotiabank upped their target price on Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and increased their price target for the stock from $17.00 to $20.00 in a report on Friday, September 13th. Truist Financial raised 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 report on Wednesday, September 4th. Finally, Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $16.00 to $20.00 in a research note on Tuesday, October 1st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.