Sabra Health Care REIT (NASDAQ:SBRA) Hits New 52-Week High at $18.97

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) hit a new 52-week high on Tuesday . The company traded as high as $18.97 and last traded at $18.97, with a volume of 460 shares traded. The stock had previously closed at $18.79.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Scotiabank raised their price objective on Sabra Health Care REIT from $15.00 to $17.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Citigroup raised Sabra Health Care REIT from a “neutral” rating to a “buy” rating and raised their price target for the company from $17.00 to $20.00 in a report on Friday, September 13th. Finally, Truist Financial upped their price objective on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.09.

Sabra Health Care REIT Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.27 and a current ratio of 4.27. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 94.55, a price-to-earnings-growth ratio of 2.65 and a beta of 1.26. The business has a fifty day simple moving average of $16.71 and a 200 day simple moving average of $15.19.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.24). Sabra Health Care REIT had a return on equity of 1.87% and a net margin of 7.83%. The business had revenue of $176.14 million during the quarter, compared to analyst estimates of $166.54 million. During the same quarter last year, the firm earned $0.34 EPS. Sabra Health Care REIT’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, research analysts expect that Sabra Health Care REIT, Inc. will post 1.37 EPS for the current year.

Sabra Health Care REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date of this dividend was Monday, August 19th. Sabra Health Care REIT’s dividend payout ratio is currently 600.00%.

Hedge Funds Weigh In On Sabra Health Care REIT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Family Firm Inc. bought a new position in shares of Sabra Health Care REIT in the second quarter worth $26,000. Neo Ivy Capital Management acquired a new stake in Sabra Health Care REIT during the fourth quarter worth about $41,000. Principal Securities Inc. bought a new position in Sabra Health Care REIT in the 4th quarter valued at about $46,000. Newbridge Financial Services Group Inc. bought a new position in Sabra Health Care REIT in the 4th quarter valued at about $56,000. Finally, GAMMA Investing LLC raised its position in shares of Sabra Health Care REIT by 40.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,682 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 1,052 shares in the last quarter. 99.40% of the stock is owned by institutional investors and hedge funds.

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.