Sabra Healthcare REIT (NASDAQ:SBRA – Free Report) had its target price lowered by Barclays from $23.00 to $21.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.
Several other equities research analysts have also issued reports on SBRA. Mizuho set a $21.00 price target on Sabra Healthcare REIT in a research note on Monday, August 31st. Scotiabank cut their price objective on Sabra Healthcare REIT from $22.00 to $19.00 and set a “sector perform” rating for the company in a report on Thursday, June 18th. Truist Financial increased their price objective on Sabra Healthcare REIT from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Raymond James Financial raised Sabra Healthcare REIT from an “underperform” rating to a “market perform” rating in a report on Thursday, August 6th. Finally, Weiss Ratings cut Sabra Healthcare REIT from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Sabra Healthcare REIT has a consensus rating of “Moderate Buy” and a consensus price target of $21.69.
View Our Latest Stock Analysis on SBRA
Sabra Healthcare REIT Stock Performance
NASDAQ SBRA opened at $19.29 on Tuesday. Sabra Healthcare REIT has a 52-week low of $17.17 and a 52-week high of $22.77. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.07 and a current ratio of 3.07. The company has a market capitalization of $4.93 billion, a P/E ratio of 74.20, a P/E/G ratio of 1.45 and a beta of 0.63. The company has a fifty day moving average of $20.09 and a 200-day moving average of $20.08.
Sabra Healthcare REIT (NASDAQ:SBRA – Get Free Report) last announced its earnings results on Monday, August 3rd. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.27). The company had revenue of $230.11 million during the quarter, compared to analysts’ expectations of $219.39 million. Sabra Healthcare REIT had a return on equity of 2.34% and a net margin of 7.61%. The firm’s revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 earnings per share. As a group, equities research analysts predict that Sabra Healthcare REIT will post 1.52 EPS for the current fiscal year.
Sabra Healthcare REIT Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.2%. Sabra Healthcare REIT’s dividend payout ratio is 461.54%.
Insider Activity at Sabra Healthcare REIT
In related news, CEO Richard Matros sold 200,000 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $20.83, for a total transaction of $4,166,000.00. Following the transaction, the chief executive officer owned 1,657,686 shares of the company’s stock, valued at approximately $34,529,599.38. This trade represents a 10.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.09% of the company’s stock.
Institutional Trading of Sabra Healthcare REIT
Several hedge funds have recently added to or reduced their stakes in SBRA. Principal Financial Group Inc. grew its stake in shares of Sabra Healthcare REIT by 0.4% during the first quarter. Principal Financial Group Inc. now owns 25,052,121 shares of the real estate investment trust’s stock valued at $481,755,000 after buying an additional 98,770 shares during the last quarter. Lasalle Investment Management Securities LLC increased its holdings in shares of Sabra Healthcare REIT by 8.2% in the first quarter. Lasalle Investment Management Securities LLC now owns 3,824,622 shares of the real estate investment trust’s stock worth $73,547,000 after buying an additional 290,405 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Sabra Healthcare REIT by 7.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,725,337 shares of the real estate investment trust’s stock valued at $71,640,000 after acquiring an additional 269,793 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Sabra Healthcare REIT by 6.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,208,600 shares of the real estate investment trust’s stock valued at $61,701,000 after acquiring an additional 203,226 shares during the last quarter. Finally, Rush Island Management LP bought a new stake in shares of Sabra Healthcare REIT in the 1st quarter valued at about $30,735,000. 99.40% of the stock is owned by institutional investors.
About Sabra Healthcare REIT
Sabra Healthcare REIT, Inc is a self-managed real estate investment trust that owns and invests in healthcare-related real estate. The company primarily provides capital to healthcare operators through property ownership, leases, mortgage loans, and other investment structures.
Sabra’s portfolio has historically included skilled nursing facilities, senior housing communities, behavioral health facilities, specialty hospitals, and other healthcare properties. Its properties are generally leased to or operated by third-party healthcare providers, allowing the company to participate in the healthcare real estate market without directly delivering most patient-care services.
Founded in 2010, Sabra Healthcare REIT serves healthcare markets primarily in the United States, with investments that have also included select properties in Canada.
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