Citigroup Upgrades Sabra Health Care REIT (NASDAQ:SBRA) to “Buy”

Sabra Health Care REIT (NASDAQ:SBRA) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat.com reports. The firm presently has a $20.00 target price on the real estate investment trust’s stock, up from their prior target price of $17.00. Citigroup’s target price indicates a potential upside of 7.58% from the stock’s current price.

Several other equities analysts have also issued reports on SBRA. Scotiabank raised their price target on Sabra Health Care REIT from $15.00 to $17.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Truist Financial increased 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. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.09.

Sabra Health Care REIT Trading Up 1.3 %

SBRA stock opened at $18.59 on Friday. The company has a market capitalization of $4.35 billion, a PE ratio of 92.95, a price-to-earnings-growth ratio of 2.59 and a beta of 1.26. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.27 and a current ratio of 4.27. Sabra Health Care REIT has a one year low of $12.83 and a one year high of $18.67. The company’s 50 day moving average price is $16.57 and its two-hundred day moving average price is $15.11.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $166.54 million. During the same quarter in the previous year, the business 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, analysts predict that Sabra Health Care REIT will post 1.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Sabra Health Care REIT by 2.5% during 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 buying an additional 838,654 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Sabra Health Care REIT by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 21,571,121 shares of the real estate investment trust’s stock worth $318,605,000 after acquiring an additional 83,842 shares during the period. Janus Henderson Group PLC raised its position in shares of 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. LSV Asset Management lifted its stake in shares of Sabra Health Care REIT by 2.5% in the 2nd quarter. LSV Asset Management now owns 4,380,815 shares of the real estate investment trust’s stock valued at $67,465,000 after purchasing an additional 104,800 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Sabra Health Care REIT by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,190,587 shares of the real estate investment trust’s stock valued at $59,800,000 after purchasing an additional 94,304 shares in 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.