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

Sabra Health Care REIT (NASDAQ:SBRA) was downgraded by analysts at Truist Financial from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports.

SBRA has been the subject of a number of other reports. Mizuho reiterated 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. Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $16.00 to $20.00 in a report on Tuesday, October 1st. JMP Securities raised 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. Scotiabank boosted their price target on Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. Finally, Citizens Jmp raised shares of Sabra Health Care REIT from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.25.

Sabra Health Care REIT Stock Performance

NASDAQ:SBRA traded down $0.12 during mid-day trading on Friday, hitting $17.07. 405,656 shares of the stock were exchanged, compared to its average volume of 1,643,426. The firm’s 50-day simple moving average is $17.76 and its 200 day simple moving average is $17.50. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 41.62, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26. Sabra Health Care REIT has a fifty-two week low of $12.83 and a fifty-two week high of $20.03. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.16 and a current ratio of 4.16.

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 analyst estimates of $177.19 million. During the same period in the prior year, the business posted $0.34 EPS. As a group, equities analysts anticipate that Sabra Health Care REIT will post 1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.