Sabra Health Care REIT (NASDAQ:SBRA) Lifted to “Buy” at Citigroup

Citigroup upgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from a neutral rating to a buy rating in a report released on Friday morning, Marketbeat Ratings reports. The brokerage currently has $20.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $17.00.

Several other research analysts have also commented on the company. Truist Financial lifted their price target on 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. Scotiabank lifted their price target on Sabra Health Care REIT from $15.00 to $17.00 and gave the stock a sector perform rating in a research 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $17.09.

Sabra Health Care REIT Stock Up 1.1 %

SBRA opened at $18.79 on Friday. The firm has a 50-day simple moving average of $16.64 and a two-hundred day simple moving average of $15.16. Sabra Health Care REIT has a 52 week low of $12.83 and a 52 week high of $18.85. The company has a market capitalization of $4.40 billion, a PE ratio of 93.95, a price-to-earnings-growth ratio of 2.65 and a beta of 1.26. 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 (NASDAQ:SBRA) last released its quarterly earnings data 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). The company had revenue of $176.14 million for the quarter, compared to the consensus estimate of $166.54 million. Sabra Health Care REIT had a net margin of 7.83% and a return on equity of 1.87%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the company earned $0.34 EPS. Analysts forecast that Sabra Health Care REIT will post 1.37 earnings per share for the current fiscal year.

Sabra Health Care REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 6.39%. The ex-dividend date of this dividend was Monday, August 19th. Sabra Health Care REIT’s payout ratio is currently 600.00%.

Institutional Trading of Sabra Health Care REIT

Institutional investors and hedge funds have recently modified their holdings of the stock. Family Firm Inc. bought a new stake in shares of Sabra Health Care REIT during the second quarter valued at approximately $26,000. Neo Ivy Capital Management bought a new stake in shares of Sabra Health Care REIT during the fourth quarter valued at approximately $41,000. Principal Securities Inc. bought a new stake in shares of Sabra Health Care REIT during the fourth quarter valued at approximately $46,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Sabra Health Care REIT during the fourth quarter valued at approximately $56,000. Finally, GAMMA Investing LLC raised its stake in shares of Sabra Health Care REIT by 40.0% during the second quarter. GAMMA Investing LLC now owns 3,682 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 1,052 shares in the last quarter. Institutional investors own 99.40% of the company’s stock.

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.