Sabra Health Care REIT (NASDAQ:SBRA) Upgraded by JMP Securities to Outperform Rating

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

A number of other analysts have also recently issued reports on SBRA. Scotiabank increased their target price on Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th. Mizuho reissued 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. Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $16.00 to $20.00 in a research note on Tuesday, October 1st. Finally, Citigroup raised Sabra Health Care REIT from a “neutral” rating to a “buy” rating and increased their target price for the stock from $17.00 to $20.00 in a research note on Friday, September 13th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.25.

Sabra Health Care REIT Stock Performance

Shares of NASDAQ:SBRA opened at $17.18 on Tuesday. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 41.90, a P/E/G ratio of 2.20 and a beta of 1.26. The firm’s 50 day simple moving average is $17.96 and its 200 day simple moving average is $17.43. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.16 and a quick ratio of 4.16. Sabra Health Care REIT has a fifty-two week low of $12.83 and a fifty-two week high of $20.03.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its quarterly 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 net margin of 14.20% and a return on equity of 3.51%. The firm had revenue of $178.00 million during the quarter, compared to analyst estimates of $177.19 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. As a group, sell-side analysts forecast that Sabra Health Care REIT will post 1.39 earnings per share for the current year.

Sabra Health Care REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.20 annualized dividend and a dividend yield of 6.98%. Sabra Health Care REIT’s dividend payout ratio is presently 292.68%.

Hedge Funds Weigh In On Sabra Health Care REIT

Several hedge funds and other institutional investors have recently made changes to their positions in SBRA. Quarry LP bought a new position in shares of Sabra Health Care REIT in the third quarter valued at $30,000. Assetmark Inc. grew its stake in shares of Sabra Health Care REIT by 168.4% in the third 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 bought a new position in shares of Sabra Health Care REIT in the third quarter valued at $59,000. Harbor Capital Advisors Inc. bought a new position in shares of Sabra Health Care REIT in the third quarter valued at $78,000. Finally, GAMMA Investing LLC grew its stake in shares of Sabra Health Care REIT by 25.3% in the third quarter. GAMMA Investing LLC now owns 4,614 shares of the real estate investment trust’s stock valued at $86,000 after buying 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.