Truist Financial Increases Sabra Health Care REIT (NASDAQ:SBRA) Price Target to $18.00

Sabra Health Care REIT (NASDAQ:SBRA) had its price objective hoisted by Truist Financial from $16.00 to $18.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target indicates a potential upside of 3.21% from the company’s previous close.

Separately, Scotiabank boosted their price target on shares of Sabra Health Care REIT from $15.00 to $17.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sabra Health Care REIT currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.80.

Sabra Health Care REIT Stock Up 0.8 %

Shares of NASDAQ:SBRA opened at $17.44 on Wednesday. The firm has a 50 day simple moving average of $16.27 and a 200 day simple moving average of $14.94. Sabra Health Care REIT has a 52 week low of $12.41 and a 52 week high of $17.65. 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 company has a market cap of $4.04 billion, a PE ratio of 87.20, a price-to-earnings-growth ratio of 2.46 and a beta of 1.24.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its quarterly earnings results 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). The business had revenue of $176.14 million for the quarter, compared to analyst estimates of $166.54 million. Sabra Health Care REIT had a net margin of 7.83% and a return on equity of 1.87%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share. As a group, research analysts expect that Sabra Health Care REIT will post 1.37 earnings per share for the current year.

Hedge Funds Weigh In On Sabra Health Care REIT

Institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Sabra Health Care REIT during the 4th quarter valued at about $31,605,000. Point72 Asset Management L.P. boosted its position in Sabra Health Care REIT by 152.7% during the second quarter. Point72 Asset Management L.P. now owns 1,732,274 shares of the real estate investment trust’s stock worth $26,677,000 after purchasing an additional 1,046,748 shares during the period. Millennium Management LLC acquired a new position in Sabra Health Care REIT during the second quarter valued at approximately $12,972,000. Vanguard Group Inc. raised its position in shares of Sabra Health Care REIT by 2.5% in the first quarter. Vanguard Group Inc. now owns 34,972,611 shares of the real estate investment trust’s stock valued at $516,545,000 after purchasing an additional 838,654 shares during the period. Finally, APG Asset Management US Inc. lifted its stake in shares of Sabra Health Care REIT by 91.7% in the fourth quarter. APG Asset Management US Inc. now owns 1,592,962 shares of the real estate investment trust’s stock worth $22,732,000 after buying an additional 762,002 shares during the last quarter. 99.40% of the stock is currently owned by institutional investors.

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.