Sabra Health Care REIT, Inc. (NASDAQ:SBRA) to Issue Quarterly Dividend of $0.30

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) declared a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.30 per share by the real estate investment trust on Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date of this dividend is Friday, November 15th.

Sabra Health Care REIT has decreased its dividend by an average of 3.9% per year over the last three years. Sabra Health Care REIT has a dividend payout ratio of 176.5% 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 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 Trading Down 4.2 %

SBRA opened at $18.71 on Thursday. Sabra Health Care REIT has a one year low of $12.83 and a one year high of $20.03. The business has a 50 day simple moving average of $18.56 and a two-hundred day simple moving average of $16.50. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.16 and a quick ratio of 4.16. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 45.63, a PEG ratio of 2.45 and a beta of 1.25.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SBRA. Scotiabank upped their target price on Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. Wells Fargo & Company upgraded Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $16.00 to $20.00 in a report on Tuesday, October 1st. Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and upped their price target for the stock from $17.00 to $20.00 in a research note on Friday, September 13th. Finally, Truist Financial upped their price target on Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.71.

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.