Truist Financial Boosts Sabra Health Care REIT (NASDAQ:SBRA) Price Target to $16.00

Sabra Health Care REIT (NASDAQ:SBRA) had its price objective upped by Truist Financial from $15.00 to $16.00 in a research note released on Thursday, Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

A number of other research firms have also commented on SBRA. Scotiabank raised their price target on shares of Sabra Health Care REIT from $14.00 to $15.00 and gave the stock a sector perform rating in a research report on Wednesday, May 15th. Wedbush restated an outperform rating and set a $17.00 target price on shares of Sabra Health Care REIT in a research report on Thursday, February 29th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $15.79.

Sabra Health Care REIT Price Performance

Sabra Health Care REIT stock opened at $15.40 on Thursday. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 77.00, a PEG ratio of 2.42 and a beta of 1.22. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.89. Sabra Health Care REIT has a 12 month low of $11.57 and a 12 month high of $15.43. The stock’s 50 day moving average is $14.37 and its 200-day moving average is $14.11.

Sabra Health Care REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 7.79%. Sabra Health Care REIT’s dividend payout ratio (DPR) is 600.00%.

Insiders Place Their Bets

In other Sabra Health Care REIT news, Director Catherine Cusack bought 7,000 shares of Sabra Health Care REIT stock in a transaction on Wednesday, May 22nd. The shares were purchased at an average price of $14.43 per share, with a total value of $101,010.00. Following the acquisition, the director now owns 46,385 shares in the company, valued at approximately $669,335.55. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Sabra Health Care REIT

Hedge funds have recently made changes to their positions in the stock. Tennessee Valley Asset Management Partners bought a new position in Sabra Health Care REIT in the 4th quarter valued at approximately $25,000. GAMMA Investing LLC acquired a new position in Sabra Health Care REIT during the fourth quarter worth $33,000. Neo Ivy Capital Management acquired a new stake in shares of Sabra Health Care REIT in the 4th quarter worth about $41,000. Principal Securities Inc. bought a new position in shares of Sabra Health Care REIT in the fourth quarter valued at approximately $46,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Sabra Health Care REIT during the 4th quarter valued at $56,000. 99.40% of the stock is currently owned by institutional investors and hedge funds.

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.