Sabra Health Care REIT (NASDAQ:SBRA) Upgraded to “Outperform” at JMP Securities

Sabra Health Care REIT (NASDAQ:SBRA) was upgraded by stock analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a report issued on Tuesday, Marketbeat Ratings reports. The firm currently has a $20.00 target price on the real estate investment trust’s stock. JMP Securities’ price objective would suggest a potential upside of 16.41% from the stock’s current price.

Several other brokerages have also recently weighed in on SBRA. Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and upped their price target for the company from $17.00 to $20.00 in a research report on Friday, September 13th. Scotiabank upped 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 report on Friday, October 11th. Mizuho reissued a “neutral” rating and issued a $20.00 price target on shares of Sabra Health Care REIT in a report on Thursday, December 5th. Finally, Wells Fargo & Company raised shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $16.00 to $20.00 in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.25.

Sabra Health Care REIT Stock Up 2.3 %

SBRA opened at $17.18 on Tuesday. Sabra Health Care REIT has a 12 month low of $12.83 and a 12 month high of $20.03. The company has a market cap of $4.06 billion, a PE ratio of 41.90, a price-to-earnings-growth ratio of 2.20 and a beta of 1.26. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.90. The company has a 50 day moving average of $18.00 and a 200 day moving average of $17.44.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its quarterly 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). Sabra Health Care REIT had a return on equity of 3.51% and a net margin of 14.20%. The company had revenue of $178.00 million during the quarter, compared to the consensus estimate of $177.19 million. During the same period in the previous year, the business earned $0.34 earnings per share. On average, sell-side analysts expect that Sabra Health Care REIT will post 1.39 EPS for the current year.

Institutional Investors Weigh In On Sabra Health Care REIT

Several hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its position in shares of Sabra Health Care REIT by 4.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 15,369 shares of the real estate investment trust’s stock valued at $286,000 after purchasing an additional 655 shares during the last quarter. GAMMA Investing LLC boosted its stake in 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 worth $86,000 after buying an additional 932 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in Sabra Health Care REIT by 2.5% during the second quarter. Mercer Global Advisors Inc. ADV now owns 48,448 shares of the real estate investment trust’s stock valued at $746,000 after acquiring an additional 1,168 shares during the last quarter. Assetmark Inc. raised its stake 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 acquiring an additional 1,231 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Sabra Health Care REIT by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 64,802 shares of the real estate investment trust’s stock worth $998,000 after acquiring an additional 1,258 shares during the last quarter. 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.