Citizens Jmp Upgrades Sabra Health Care REIT (NASDAQ:SBRA) to “Strong-Buy”

Sabra Health Care REIT (NASDAQ:SBRA) was upgraded by equities research analysts at Citizens Jmp from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. Scotiabank upped their price target on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. Wells Fargo & Company raised shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $16.00 to $20.00 in a research note on Tuesday, October 1st. JMP Securities raised Sabra Health Care REIT from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a research note on Tuesday. Mizuho reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Sabra Health Care REIT in a research report on Thursday, December 5th. Finally, Citigroup upgraded Sabra Health Care REIT from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $17.00 to $20.00 in a report on Friday, September 13th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.25.

Sabra Health Care REIT Price Performance

Shares of SBRA stock opened at $17.18 on Tuesday. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.90. Sabra Health Care REIT has a 12-month low of $12.83 and a 12-month high of $20.03. The firm has a fifty day moving average of $18.00 and a 200-day moving average of $17.44. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 41.90, a price-to-earnings-growth ratio of 2.20 and a beta of 1.26.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.22). Sabra Health Care REIT had a return on equity of 3.51% and a net margin of 14.20%. The business had revenue of $178.00 million during the quarter, compared to the consensus estimate of $177.19 million. During the same quarter last year, the company earned $0.34 earnings per share. On average, equities research analysts forecast that Sabra Health Care REIT will post 1.39 earnings per share for the current year.

Hedge Funds Weigh In On Sabra Health Care REIT

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP bought a new stake in Sabra Health Care REIT during the third quarter worth $30,000. Assetmark Inc. raised its holdings in shares of Sabra Health Care REIT by 168.4% in the 3rd quarter. Assetmark Inc. now owns 1,962 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 1,231 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Sabra Health Care REIT in the 3rd quarter valued at about $59,000. Harbor Capital Advisors Inc. acquired a new stake in Sabra Health Care REIT in the 3rd quarter valued at about $78,000. Finally, GAMMA Investing LLC grew its holdings in Sabra Health Care REIT by 25.3% during the third quarter. GAMMA Investing LLC now owns 4,614 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 932 shares during the period. 99.40% of the stock is owned by institutional investors.

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.