Sabra Health Care REIT (NASDAQ:SBRA) Upgraded at Citizens Jmp

Citizens Jmp upgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from a hold rating to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and upped their target price for the stock from $17.00 to $20.00 in a research report on Friday, September 13th. Mizuho restated a “neutral” rating and set a $20.00 target price on shares of Sabra Health Care REIT in a research report on Thursday, December 5th. 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 research report on Friday, October 11th. Wells Fargo & Company upgraded shares of 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 research report on Tuesday, October 1st. Finally, JMP Securities upgraded shares of Sabra Health Care REIT from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research report on Tuesday. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Sabra Health Care REIT presently has an average rating of “Moderate Buy” and a consensus target price of $19.25.

Sabra Health Care REIT Stock Performance

SBRA opened at $17.18 on Tuesday. The firm has a market cap of $4.06 billion, a P/E ratio of 41.90, a PEG ratio of 2.20 and a beta of 1.26. Sabra Health Care REIT has a 1-year low of $12.83 and a 1-year high of $20.03. The company has a 50 day simple moving average of $17.96 and a two-hundred day simple moving average of $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 (NASDAQ:SBRA) last posted 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). The firm had revenue of $178.00 million during the quarter, compared to the consensus estimate of $177.19 million. Sabra Health Care REIT had a return on equity of 3.51% and a net margin of 14.20%. During the same quarter in the previous year, the company earned $0.34 earnings per share. Equities analysts forecast that Sabra Health Care REIT will post 1.39 earnings per share for the current fiscal year.

Sabra Health Care REIT Dividend Announcement

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

Institutional Investors Weigh In On Sabra Health Care REIT

Several hedge funds and other institutional investors have recently made changes to their positions in SBRA. JPMorgan Chase & Co. raised its stake in shares of 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 period. Wellington Management Group LLP raised its stake in shares of Sabra Health Care REIT by 736.5% in the third quarter. Wellington Management Group LLP now owns 2,396,835 shares of the real estate investment trust’s stock valued at $44,605,000 after acquiring an additional 2,110,307 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Sabra Health Care REIT by 324.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,404,576 shares of the real estate investment trust’s stock valued at $26,139,000 after acquiring an additional 1,073,530 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Sabra Health Care REIT by 152.7% in the second quarter. Point72 Asset Management L.P. now owns 1,732,274 shares of the real estate investment trust’s stock valued at $26,677,000 after acquiring an additional 1,046,748 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in shares of Sabra Health Care REIT by 1,557.9% in the third quarter. Thrivent Financial for Lutherans now owns 927,309 shares of the real estate investment trust’s stock valued at $17,258,000 after acquiring an additional 871,375 shares during the period. Hedge funds and other 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.