Sabra Healthcare REIT (NASDAQ:SBRA – Get Free Report) released its quarterly earnings data on Monday. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.25, Zacks reports. The company had revenue of $246.34 million during the quarter, compared to the consensus estimate of $236.64 million. Sabra Healthcare REIT had a net margin of 7.61% and a return on equity of 2.34%. Sabra Healthcare REIT’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share.
Sabra Healthcare REIT Stock Performance
Sabra Healthcare REIT stock traded down $0.02 during mid-day trading on Monday, reaching $19.72. 3,358,445 shares of the company were exchanged, compared to its average volume of 2,663,508. The firm’s 50-day simple moving average is $19.87 and its two-hundred day simple moving average is $19.96. Sabra Healthcare REIT has a twelve month low of $17.53 and a twelve month high of $22.77. The firm has a market cap of $5.04 billion, a PE ratio of 75.85, a price-to-earnings-growth ratio of 1.79 and a beta of 0.63. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.07 and a current ratio of 3.07.
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 stock was sold at an average price of $20.83, for a total transaction of $4,166,000.00. Following the completion of the sale, the chief executive officer directly owned 1,657,686 shares of the company’s stock, valued at $34,529,599.38. This trade represents a 10.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.09% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Sabra Healthcare REIT from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, August 31st. Huntington started coverage on Sabra Healthcare REIT in a research report on Thursday, September 10th. They set an “outperform” rating and a $23.00 price target on the stock. Citizens Jmp boosted their price objective on Sabra Healthcare REIT from $23.00 to $25.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sabra Healthcare REIT in a report on Wednesday, July 22nd. Finally, Barclays lowered their target price on shares of Sabra Healthcare REIT from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 13th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.50.
Read Our Latest Report on Sabra Healthcare REIT
Sabra Healthcare REIT Company Profile
Sabra Healthcare REIT, Inc is a self-managed real estate investment trust that owns and invests in healthcare-related real estate. The company focuses primarily on properties used for skilled nursing and transitional care, senior housing, behavioral health, specialty hospitals and other healthcare services.
Sabra leases properties to healthcare operators and also provides capital through loans, joint ventures and other real estate investments. Its portfolio is designed to support a range of care settings, including facilities serving seniors, patients requiring rehabilitation and individuals receiving behavioral healthcare.
Founded in 2010 and headquartered in Irvine, California, Sabra has expanded through acquisitions, development investments and strategic transactions, including its 2017 combination with Care Capital Properties.
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