Sabra Health Care REIT (NASDAQ:SBRA) Upgraded to “Overweight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. They currently have $20.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $16.00.

Several other research firms also recently commented on SBRA. Truist Financial boosted their price objective on Sabra Health Care REIT from $16.00 to $18.00 and gave the company a buy rating in a report on Wednesday, September 4th. Citigroup raised Sabra Health Care REIT from a neutral rating to a buy rating and lifted their target price for the company from $17.00 to $20.00 in a research report on Friday, September 13th. Finally, Scotiabank lifted their target price 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. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Sabra Health Care REIT has a consensus rating of Moderate Buy and a consensus price target of $17.80.

Sabra Health Care REIT Trading Down 0.2 %

Shares of SBRA stock opened at $18.58 on Tuesday. The company has a market cap of $4.35 billion, a P/E ratio of 92.90, a PEG ratio of 2.65 and a beta of 1.26. The stock has a 50 day simple moving average of $17.22 and a two-hundred day simple moving average of $15.52. 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 fifty-two week low of $12.83 and a fifty-two week high of $19.32.

Sabra Health Care REIT (NASDAQ:SBRA) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.24). The firm had revenue of $176.14 million for the quarter, compared to the consensus estimate of $166.54 million. Sabra Health Care REIT had a net margin of 7.83% and a return on equity of 1.87%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS. Research analysts forecast that Sabra Health Care REIT will post 1.38 earnings per share for the current year.

Sabra Health Care REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders 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 annualized dividend and a yield of 6.46%. Sabra Health Care REIT’s dividend payout ratio is currently 600.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Family Firm Inc. purchased a new position in shares of Sabra Health Care REIT during the 2nd quarter valued at $26,000. Neo Ivy Capital Management purchased a new position in shares of Sabra Health Care REIT during the 4th quarter valued at $41,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Sabra Health Care REIT during the 4th quarter valued at $56,000. GAMMA Investing LLC lifted its position in shares of Sabra Health Care REIT by 40.0% during 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 during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Sabra Health Care REIT during the 1st quarter valued at $89,000. Hedge funds and other institutional investors 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.