Sabra Health Care REIT (NASDAQ:SBRA) Hits New 12-Month High – Still a Buy?

Sabra Health Care REIT, Inc. (NASDAQ:SBRA)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $19.33 and last traded at $19.29, with a volume of 876219 shares changing hands. The stock had previously closed at $19.07.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SBRA shares. Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $20.00 in a research report on Friday, September 13th. Wells Fargo & Company upgraded Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $16.00 to $20.00 in a report on Tuesday, October 1st. Truist Financial increased their price target on Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Scotiabank lifted their price objective on Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.38.

Sabra Health Care REIT Stock Up 0.8 %

The firm’s 50-day simple moving average is $17.98 and its 200 day simple moving average is $16.05. 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 stock has a market capitalization of $4.45 billion, a P/E ratio of 95.35, a PEG ratio of 2.69 and a beta of 1.26.

Sabra Health Care REIT (NASDAQ:SBRA) last announced 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 return on equity of 1.87% and a net margin of 7.83%. The company had revenue of $176.14 million for the quarter, compared to the consensus estimate of $166.54 million. During the same quarter in the prior year, the company earned $0.34 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, research analysts expect that Sabra Health Care REIT, Inc. will post 1.39 EPS for the current year.

Sabra Health Care REIT Dividend Announcement

The company also recently announced 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 6.24%. Sabra Health Care REIT’s dividend payout ratio (DPR) is currently 600.00%.

Institutional Trading of Sabra Health Care REIT

Institutional investors and hedge funds have recently bought and sold shares of the business. Natixis acquired a new position in shares of Sabra Health Care REIT during the 1st quarter worth approximately $633,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Sabra Health Care REIT by 63.6% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 318,808 shares of the real estate investment trust’s stock valued at $4,709,000 after purchasing an additional 123,966 shares during the period. Cetera Advisors LLC lifted its stake in shares of Sabra Health Care REIT by 996.2% during the 1st quarter. Cetera Advisors LLC now owns 149,574 shares of the real estate investment trust’s stock worth $2,209,000 after buying an additional 135,929 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Sabra Health Care REIT by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 579,110 shares of the real estate investment trust’s stock worth $8,918,000 after buying an additional 38,144 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Sabra Health Care REIT by 34.1% during the 1st quarter. Cetera Investment Advisers now owns 406,675 shares of the real estate investment trust’s stock worth $6,007,000 after buying an additional 103,413 shares during the period. 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.