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

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

Wall Street Analysts Forecast Growth

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

Sabra Health Care REIT Stock Down 3.1 %

The company has a market capitalization of $4.32 billion, a PE ratio of 95.00, a P/E/G ratio of 2.71 and a beta of 1.26. 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 company has a 50-day moving average of $16.71 and a two-hundred day moving average of $15.19.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its quarterly 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 net margin of 7.83% and a return on equity of 1.87%. The business had revenue of $176.14 million for the quarter, compared to the consensus estimate of $166.54 million. During the same period in the prior year, the business earned $0.34 earnings per share. Sabra Health Care REIT’s revenue was up 9.3% compared to the same quarter last year. Sell-side analysts anticipate that Sabra Health Care REIT, Inc. will post 1.37 earnings per share for the current fiscal year.

Sabra Health Care REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.51%. Sabra Health Care REIT’s dividend payout ratio is 600.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. 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 worth $516,545,000 after purchasing an additional 838,654 shares in the last quarter. Principal Financial Group Inc. boosted its stake 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 in the last quarter. Janus Henderson Group PLC grew its holdings in Sabra Health Care REIT by 2.9% in the first quarter. Janus Henderson Group PLC now owns 5,199,682 shares of the real estate investment trust’s stock valued at $76,701,000 after purchasing an additional 145,548 shares during the period. LSV Asset Management grew its stake in 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 acquiring an additional 104,800 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Sabra Health Care REIT by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,394,562 shares of the real estate investment trust’s stock worth $52,275,000 after purchasing an additional 124,825 shares in the last quarter. Institutional investors 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.