Sabra Health Care REIT (NASDAQ:SBRA) Shares Down 2.5%

Sabra Health Care REIT, Inc. (NASDAQ:SBRA)’s share price was down 2.5% during mid-day trading on Thursday . The company traded as low as $18.50 and last traded at $18.53. Approximately 161,265 shares were traded during trading, a decline of 92% from the average daily volume of 2,049,146 shares. The stock had previously closed at $19.00.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Citigroup raised Sabra Health Care REIT from a “neutral” rating to a “buy” rating and upped their target price for the company from $17.00 to $20.00 in a research report on Friday, September 13th. Truist Financial lifted their price objective on Sabra Health Care REIT from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Scotiabank raised their target price on Sabra Health Care REIT from $15.00 to $17.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.30.

Sabra Health Care REIT Stock Up 1.5 %

The company has a debt-to-equity ratio of 0.89, a current ratio of 4.27 and a quick ratio of 4.27. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 93.20, a PEG ratio of 2.71 and a beta of 1.26. The business has a fifty day simple moving average of $16.90 and a 200 day simple moving average of $15.27.

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

Sabra Health Care REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a $0.30 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.44%. Sabra Health Care REIT’s dividend payout ratio (DPR) is presently 600.00%.

Hedge Funds Weigh In On Sabra Health Care REIT

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

About Sabra Health Care REIT

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.