Sabra Health Care REIT (NASDAQ:SBRA) Releases FY24 Earnings Guidance

Sabra Health Care REIT (NASDAQ:SBRA) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $1.39-1.42 for the period, compared to the consensus EPS estimate of $1.38.

Sabra Health Care REIT Price Performance

Shares of NASDAQ SBRA traded up $0.18 during midday trading on Wednesday, reaching $16.66. 3,425,483 shares of the company were exchanged, compared to its average volume of 1,999,099. The stock’s 50-day moving average price is $15.32 and its 200-day moving average price is $14.47. The stock has a market cap of $3.86 billion, a P/E ratio of 83.00, a PEG ratio of 2.61 and a beta of 1.24. The company has a quick ratio of 4.33, a current ratio of 4.33 and a debt-to-equity ratio of 0.89. Sabra Health Care REIT has a one year low of $11.73 and a one year high of $16.91.

Analysts Set New Price Targets

A number of brokerages have issued reports on SBRA. Scotiabank upped their target price on Sabra Health Care REIT from $14.00 to $15.00 and gave the stock a sector perform rating in a report on Wednesday, May 15th. Truist Financial boosted their price target on Sabra Health Care REIT from $15.00 to $16.00 and gave the stock a buy rating in a report on Thursday, June 27th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $16.40.

Insider Buying and Selling

In other news, Director Catherine Cusack acquired 7,000 shares of Sabra Health Care REIT stock in a transaction dated Wednesday, May 22nd. The shares were bought at an average cost of $14.43 per share, with a total value of $101,010.00. Following the purchase, the director now owns 46,385 shares in the company, valued at approximately $669,335.55. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

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.