Sabra Health Care REIT (NASDAQ:SBRA) Stock Rating Upgraded by JMP Securities

Sabra Health Care REIT (NASDAQ:SBRA) was upgraded by stock analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has a $20.00 price objective on the real estate investment trust’s stock. JMP Securities’ target price would indicate a potential upside of 16.41% from the company’s current price.

Other analysts also recently issued reports about the company. Mizuho reissued a “neutral” rating and issued a $20.00 price objective on shares of Sabra Health Care REIT in a research note on Thursday, December 5th. Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $16.00 to $20.00 in a research report on Tuesday, October 1st. Scotiabank lifted their price objective on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. Finally, Citigroup upgraded shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and increased their target price for the company from $17.00 to $20.00 in a report on Friday, September 13th. Two research 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.25.

Sabra Health Care REIT Price Performance

Shares of SBRA opened at $17.18 on Tuesday. The business’s fifty day moving average is $18.00 and its 200 day moving average is $17.44. Sabra Health Care REIT has a 12-month low of $12.83 and a 12-month high of $20.03. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.90. The stock has a market cap of $4.06 billion, a P/E ratio of 41.90, a P/E/G ratio of 2.20 and a beta of 1.26.

Sabra Health Care REIT (NASDAQ:SBRA) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). The business had revenue of $178.00 million during the quarter, compared to the consensus estimate of $177.19 million. Sabra Health Care REIT had a net margin of 14.20% and a return on equity of 3.51%. During the same period last year, the business posted $0.34 earnings per share. Sell-side analysts anticipate that Sabra Health Care REIT will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of Sabra Health Care REIT

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of Sabra Health Care REIT during the 3rd quarter valued at approximately $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 worth $37,000 after purchasing an additional 1,231 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Sabra Health Care REIT in the third quarter valued at approximately $59,000. Harbor Capital Advisors Inc. bought a new position in Sabra Health Care REIT during the third quarter valued at $78,000. Finally, GAMMA Investing LLC increased its position in Sabra Health Care REIT by 25.3% in the third quarter. GAMMA Investing LLC now owns 4,614 shares of the real estate investment trust’s stock worth $86,000 after buying an additional 932 shares during the last quarter. 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.