Sabra Health Care REIT (NASDAQ:SBRA) Upgraded at JMP Securities

JMP Securities upgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from a market perform rating to an outperform rating in a research report released on Tuesday, Marketbeat.com reports. The brokerage currently has $20.00 price objective on the real estate investment trust’s stock.

Several other brokerages have also commented on SBRA. Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $16.00 to $20.00 in a research note on Tuesday, October 1st. Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $17.00 to $20.00 in a research note on Friday, September 13th. Scotiabank increased their target price on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Finally, Mizuho restated a “neutral” rating and issued a $20.00 price target on shares of Sabra Health Care REIT in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Sabra Health Care REIT presently has a consensus rating of “Moderate Buy” and an average target price of $19.25.

Sabra Health Care REIT Trading Up 1.0 %

Shares of SBRA opened at $16.80 on Tuesday. The stock’s 50-day moving average price is $18.05 and its 200 day moving average price is $17.44. 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 firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 40.98, a P/E/G ratio of 2.20 and a beta of 1.26. Sabra Health Care REIT has a 12-month low of $12.83 and a 12-month high of $20.03.

Sabra Health Care REIT (NASDAQ:SBRA) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). The firm had revenue of $178.00 million for the quarter, compared to the consensus estimate of $177.19 million. Sabra Health Care REIT had a net margin of 14.20% and a return on equity of 3.51%. During the same quarter in the prior year, the firm posted $0.34 earnings per share. As a group, research analysts predict that Sabra Health Care REIT will post 1.39 earnings per share for the current year.

Sabra Health Care REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 7.14%. Sabra Health Care REIT’s payout ratio is 292.68%.

Institutional Investors Weigh In On Sabra Health Care REIT

A number of institutional investors and hedge funds have recently made changes to their positions in SBRA. JPMorgan Chase & Co. boosted its holdings in Sabra Health Care REIT by 222.4% in the third quarter. JPMorgan Chase & Co. now owns 9,886,917 shares of the real estate investment trust’s stock valued at $183,996,000 after acquiring an additional 6,819,919 shares during the last quarter. Franklin Resources Inc. lifted its position in Sabra Health Care REIT by 12.3% during the 3rd quarter. Franklin Resources Inc. now owns 524,917 shares of the real estate investment trust’s stock valued at $9,543,000 after purchasing an additional 57,551 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Sabra Health Care REIT during the 3rd quarter valued at about $59,000. Geode Capital Management LLC boosted its stake in shares of Sabra Health Care REIT by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,294,798 shares of the real estate investment trust’s stock valued at $117,165,000 after purchasing an additional 104,533 shares during the last quarter. Finally, Vestcor Inc grew its position in shares of Sabra Health Care REIT by 62.5% during the 3rd quarter. Vestcor Inc now owns 207,918 shares of the real estate investment trust’s stock worth $3,869,000 after buying an additional 79,956 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.