Sabra Health Care REIT, Inc. (SBRA) To Go Ex-Dividend on August 19th

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) announced a quarterly dividend on Wednesday, August 7th, Zacks reports. Stockholders of record on Monday, August 19th will be paid a dividend of 0.30 per share by the real estate investment trust on Friday, August 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.32%. The ex-dividend date of this dividend is Monday, August 19th.

Sabra Health Care REIT has decreased its dividend payment by an average of 3.9% per year over the last three years. Sabra Health Care REIT has a payout ratio of 187.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Sabra Health Care REIT to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 82.8%.

Sabra Health Care REIT Price Performance

Shares of NASDAQ:SBRA traded down $0.07 during midday trading on Friday, hitting $16.39. The company’s stock had a trading volume of 873,254 shares, compared to its average volume of 2,016,136. The company has a market cap of $3.79 billion, a P/E ratio of 82.30, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. Sabra Health Care REIT has a 12-month low of $11.73 and a 12-month high of $16.94. The business’s 50 day simple moving average is $15.41 and its 200 day simple moving average is $14.50. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.33 and a current ratio of 4.33.

Insider Activity at Sabra Health Care REIT

In other news, Director Catherine Cusack bought 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average cost of $14.43 per share, with a total value of $101,010.00. Following the transaction, the director now owns 46,385 shares of the company’s stock, valued at approximately $669,335.55. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Scotiabank raised their target price on Sabra Health Care REIT from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 15th. Truist Financial upped their price objective on Sabra Health Care REIT from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.40.

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.