Scotiabank Raises Sabra Health Care REIT (NASDAQ:SBRA) Price Target to $17.00

Sabra Health Care REIT (NASDAQ:SBRA) had its price objective increased by Scotiabank from $15.00 to $17.00 in a research report sent to investors on Monday, Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Separately, Truist Financial lifted their price target on Sabra Health Care REIT from $15.00 to $16.00 and gave the company a buy rating in a research report on Thursday, June 27th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $16.60.

Sabra Health Care REIT Stock Up 0.1 %

Shares of NASDAQ SBRA opened at $16.79 on Monday. Sabra Health Care REIT has a 52 week low of $12.10 and a 52 week high of $16.94. The business has a 50-day simple moving average of $16.00 and a two-hundred day simple moving average of $14.81. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.89. The company has a market cap of $3.93 billion, a P/E ratio of 83.95, a P/E/G ratio of 2.34 and a beta of 1.24.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its earnings results 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). 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 during the quarter, compared to the consensus estimate of $166.54 million. During the same quarter in the prior year, the business earned $0.34 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Research analysts anticipate 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 will be paid on Friday, August 30th. Investors of record on Monday, August 19th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.15%. Sabra Health Care REIT’s dividend payout ratio is 600.00%.

Hedge Funds Weigh In On Sabra Health Care REIT

A number of large investors have recently modified their holdings of the company. Cetera Investment Advisers increased its stake in Sabra Health Care REIT by 1.8% in 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 stake 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 worth $2,821,000 after purchasing an additional 84,251 shares during the period. Algert Global LLC purchased a new position in Sabra Health Care REIT in the 2nd quarter worth approximately $359,000. Lighthouse Investment Partners LLC purchased a new position in Sabra Health Care REIT in the 2nd quarter worth approximately $462,000. Finally, Mackenzie Financial Corp increased its stake in Sabra Health Care REIT by 201.0% in the 2nd quarter. Mackenzie Financial Corp now owns 45,824 shares of the real estate investment trust’s stock worth $706,000 after purchasing an additional 30,598 shares during the period. 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.