Truist Financial Downgrades Sabra Health Care REIT (NASDAQ:SBRA) to Hold

Sabra Health Care REIT (NASDAQ:SBRA) was downgraded by Truist Financial from a “buy” rating to a “hold” rating in a research report issued on Friday, Marketbeat.com reports.

Several other equities analysts have also recently weighed in on SBRA. JMP Securities raised shares of Sabra Health Care REIT from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research note on Tuesday, January 7th. Scotiabank raised their target price on shares of 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. Mizuho reiterated a “neutral” rating and issued a $20.00 price target on shares of Sabra Health Care REIT in a research note on Thursday, December 5th. Citizens Jmp upgraded shares of Sabra Health Care REIT from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $16.00 to $20.00 in a research report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.25.

Sabra Health Care REIT Stock Down 0.7 %

Shares of SBRA stock traded down $0.12 during trading hours on Friday, hitting $17.07. 405,656 shares of the company were exchanged, compared to its average volume of 1,643,426. Sabra Health Care REIT has a 52 week low of $12.83 and a 52 week high of $20.03. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.90. The business has a 50 day moving average of $17.76 and a two-hundred day moving average of $17.50. The company has a market capitalization of $4.04 billion, a PE ratio of 41.62, a PEG ratio of 2.05 and a beta of 1.26.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). The firm had revenue of $178.00 million during the quarter, compared to the consensus estimate of $177.19 million. Sabra Health Care REIT had a net margin of 14.20% and a return on equity of 3.51%. During the same quarter last year, the firm earned $0.34 earnings per share. Analysts anticipate that Sabra Health Care REIT will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of Sabra Health Care REIT

Institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of Sabra Health Care REIT by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 21,573,436 shares of the real estate investment trust’s stock worth $401,479,000 after acquiring an additional 167,069 shares during the period. JPMorgan Chase & Co. boosted its position in 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 worth $183,996,000 after purchasing an additional 6,819,919 shares during the period. Geode Capital Management LLC increased its holdings in shares of Sabra Health Care REIT by 1.7% in the third quarter. Geode Capital Management LLC now owns 6,294,798 shares of the real estate investment trust’s stock valued at $117,165,000 after purchasing an additional 104,533 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Sabra Health Care REIT by 8.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,701,881 shares of the real estate investment trust’s stock valued at $87,502,000 after purchasing an additional 365,855 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Sabra Health Care REIT by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,394,562 shares of the real estate investment trust’s stock valued at $52,275,000 after purchasing an additional 124,825 shares during the period. 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.