Sabra Health Care REIT (NASDAQ:SBRA) Price Target Raised to $16.00 at Truist Financial

Sabra Health Care REIT (NASDAQ:SBRA) had its price target increased by Truist Financial from $15.00 to $16.00 in a report published on Thursday, Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Wedbush restated an outperform rating and set a $17.00 price objective on shares of Sabra Health Care REIT in a research note on Thursday, February 29th. Scotiabank boosted their price target on shares of Sabra Health Care REIT from $14.00 to $15.00 and gave the stock a sector perform rating in a research report on Wednesday, May 15th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $15.79.

Sabra Health Care REIT Stock Performance

Shares of SBRA stock opened at $15.12 on Thursday. The business has a 50 day simple moving average of $14.34 and a 200 day simple moving average of $14.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.33 and a quick ratio of 4.33. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 75.60, a price-to-earnings-growth ratio of 2.37 and a beta of 1.22. Sabra Health Care REIT has a 12-month low of $11.57 and a 12-month high of $15.12.

Sabra Health Care REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.94%. The ex-dividend date was Friday, May 17th. Sabra Health Care REIT’s dividend payout ratio is presently 600.00%.

Insider Buying and Selling

In related news, Director Catherine Cusack bought 7,000 shares of Sabra Health Care REIT stock in a transaction dated Wednesday, May 22nd. The stock was acquired at an average cost of $14.43 per share, with a total value of $101,010.00. Following the completion of the acquisition, the director now directly owns 46,385 shares in the company, valued at approximately $669,335.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Sabra Health Care REIT

A number of large investors have recently made changes to their positions in SBRA. Vanguard Group Inc. grew its position in Sabra Health Care REIT by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 34,972,611 shares of the real estate investment trust’s stock worth $516,545,000 after purchasing an additional 838,654 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Sabra Health Care REIT by 0.4% during the first quarter. Principal Financial Group Inc. now owns 21,571,121 shares of the real estate investment trust’s stock valued at $318,605,000 after buying an additional 83,842 shares in the last quarter. JPMorgan Chase & Co. raised its position in Sabra Health Care REIT by 709.0% during the third quarter. JPMorgan Chase & Co. now owns 13,504,420 shares of the real estate investment trust’s stock valued at $188,252,000 after buying an additional 11,835,109 shares during the period. Janus Henderson Group PLC lifted its stake in Sabra Health Care REIT by 2.9% in the 1st quarter. Janus Henderson Group PLC now owns 5,199,682 shares of the real estate investment trust’s stock worth $76,701,000 after acquiring an additional 145,548 shares in the last quarter. Finally, LSV Asset Management boosted its position in Sabra Health Care REIT by 2.5% during the 4th quarter. LSV Asset Management now owns 4,385,615 shares of the real estate investment trust’s stock worth $62,583,000 after acquiring an additional 107,266 shares during the period. Institutional investors and hedge funds 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.