Sabra Health Care REIT (NASDAQ:SBRA) Lifted to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from an equal weight rating to an overweight rating in a research note published on Tuesday morning, Marketbeat reports. Wells Fargo & Company currently has $20.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $16.00.

Several other analysts also recently weighed in on the stock. Truist Financial boosted 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 research report on Wednesday, September 4th. Citigroup upgraded shares of Sabra Health Care REIT from a neutral rating to a buy rating and lifted their price target for the stock from $17.00 to $20.00 in a research note on Friday, September 13th. Finally, Scotiabank upped their price objective on shares of Sabra Health Care REIT from $15.00 to $17.00 and gave the company a sector perform rating in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $17.80.

Sabra Health Care REIT Stock Down 1.0 %

SBRA stock opened at $18.23 on Tuesday. Sabra Health Care REIT has a fifty-two week low of $12.83 and a fifty-two week high of $19.32. The company’s 50 day moving average price is $17.25 and its 200 day moving average price is $15.54. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.27 and a current ratio of 4.27. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 91.15, a PEG ratio of 2.65 and a beta of 1.26.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its quarterly earnings results 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). The business had revenue of $176.14 million for the quarter, compared to analysts’ expectations of $166.54 million. Sabra Health Care REIT had a return on equity of 1.87% and a net margin of 7.83%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. On average, equities research analysts anticipate that Sabra Health Care REIT will post 1.38 EPS for the current fiscal year.

Sabra Health Care REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 6.58%. Sabra Health Care REIT’s payout ratio is currently 600.00%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Sabra Health Care REIT during the third quarter valued at approximately $311,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sabra Health Care REIT during the 2nd quarter valued at $122,000. Cetera Investment Advisers boosted its position in Sabra Health Care REIT by 1.8% during the 2nd quarter. Cetera Investment Advisers now owns 414,052 shares of the real estate investment trust’s stock worth $6,376,000 after purchasing an additional 7,377 shares during the period. Truist Financial Corp increased its holdings in Sabra Health Care REIT by 85.2% in the 2nd quarter. Truist Financial Corp now owns 183,180 shares of the real estate investment trust’s stock valued at $2,821,000 after purchasing an additional 84,251 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in Sabra Health Care REIT in the 2nd quarter valued at $359,000. 99.40% of the stock is owned by hedge funds and other institutional investors.

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.