Sabra Health Care REIT (NASDAQ:SBRA) Lowered to Hold Rating by Truist Financial

Truist Financial downgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from a buy rating to a hold rating in a research report report published on Friday morning, Marketbeat reports. The firm currently has $17.00 target price on the real estate investment trust’s stock, down from their previous target price of $18.00.

Several other research firms have also recently issued reports on SBRA. Mizuho restated a “neutral” rating and set a $20.00 target price on shares of Sabra Health Care REIT in a research note on Thursday, December 5th. Scotiabank increased their price objective 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. JMP Securities upgraded shares of Sabra Health Care REIT from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Tuesday, January 7th. Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $16.00 to $20.00 in a research note on Tuesday, October 1st. Finally, Citizens Jmp raised Sabra Health Care REIT from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.13.

Sabra Health Care REIT Price Performance

Shares of NASDAQ SBRA opened at $16.94 on Friday. The firm has a market cap of $4.01 billion, a P/E ratio of 41.32, a PEG ratio of 2.05 and a beta of 1.26. Sabra Health Care REIT has a twelve month low of $12.83 and a twelve month high of $20.03. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.90. The company has a 50 day moving average of $17.71 and a 200 day moving average of $17.51.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its 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 business had revenue of $178.00 million during the quarter, compared to the consensus estimate of $177.19 million. Sabra Health Care REIT had a return on equity of 3.51% and a net margin of 14.20%. During the same period in the previous year, the business posted $0.34 EPS. As a group, research analysts expect that Sabra Health Care REIT will post 1.39 EPS for the current fiscal year.

Sabra Health Care REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date of this dividend was Friday, November 15th. Sabra Health Care REIT’s payout ratio is 292.69%.

Hedge Funds Weigh In On Sabra Health Care REIT

Institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new stake in Sabra Health Care REIT during the third quarter valued at about $30,000. Assetmark Inc. lifted its position in shares of Sabra Health Care REIT by 168.4% during the 3rd quarter. Assetmark Inc. now owns 1,962 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 1,231 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Sabra Health Care REIT during the 3rd quarter valued at about $59,000. Harbor Capital Advisors Inc. bought a new position in shares of Sabra Health Care REIT during the 3rd quarter valued at approximately $78,000. Finally, GAMMA Investing LLC increased its holdings in Sabra Health Care REIT by 25.3% in the 3rd quarter. GAMMA Investing LLC now owns 4,614 shares of the real estate investment trust’s stock worth $86,000 after acquiring an additional 932 shares in the last quarter. 99.40% of the stock is owned by institutional investors.

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.