Sabra Health Care REIT (NASDAQ:SBRA) Price Target Raised to $18.00

Sabra Health Care REIT (NASDAQ:SBRA) had its price target upped by equities research analysts at Scotiabank from $17.00 to $18.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target points to a potential downside of 0.11% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on SBRA. Citigroup raised shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and lifted their price target for the company from $17.00 to $20.00 in a research note on Friday, September 13th. Wells Fargo & Company raised shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $16.00 to $20.00 in a research note on Tuesday, October 1st. Finally, Truist Financial lifted their target price on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and seven 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 an average target price of $18.11.

Sabra Health Care REIT Price Performance

NASDAQ:SBRA opened at $18.02 on Friday. 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 firm has a market cap of $4.17 billion, a price-to-earnings ratio of 90.10, a price-to-earnings-growth ratio of 2.59 and a beta of 1.26. The company has a 50 day moving average price of $17.48 and a 200-day moving average price of $15.72. Sabra Health Care REIT has a 1-year low of $12.83 and a 1-year high of $19.32.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $176.14 million for the quarter, compared to analysts’ expectations of $166.54 million. During the same period last year, the firm earned $0.34 earnings per share. Sabra Health Care REIT’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts forecast that Sabra Health Care REIT will post 1.38 EPS for the current year.

Institutional Investors Weigh In On Sabra Health Care REIT

A number of hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue grew its holdings in shares of Sabra Health Care REIT by 0.6% in the first quarter. State of Alaska Department of Revenue now owns 135,087 shares of the real estate investment trust’s stock valued at $1,993,000 after purchasing an additional 755 shares during the period. Retirement Systems of Alabama raised its stake in shares of Sabra Health Care REIT by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 290,353 shares of the real estate investment trust’s stock valued at $4,289,000 after acquiring an additional 761 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Sabra Health Care REIT by 1.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 64,952 shares of the real estate investment trust’s stock worth $959,000 after acquiring an additional 928 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Sabra Health Care REIT by 25.3% during the 3rd 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. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of Sabra Health Care REIT by 2.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 48,448 shares of the real estate investment trust’s stock worth $746,000 after purchasing an additional 1,168 shares during the period. Hedge funds and other 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.