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

Sabra Health Care REIT (NASDAQ:SBRA) had its target price boosted by stock analysts at Truist Financial from $16.00 to $18.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price objective points to a potential upside of 4.23% from the company’s previous close.

Separately, Scotiabank lifted their target price on shares of Sabra Health Care REIT from $15.00 to $17.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Sabra Health Care REIT currently has an average rating of “Moderate Buy” and a consensus target price of $16.80.

Sabra Health Care REIT Stock Up 1.6 %

Shares of SBRA traded up $0.27 during midday trading on Wednesday, reaching $17.27. The stock had a trading volume of 287,687 shares, compared to its average volume of 2,028,934. Sabra Health Care REIT has a 1-year low of $12.41 and a 1-year high of $17.27. The company’s fifty day simple moving average is $16.18 and its two-hundred day simple moving average is $14.91. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 86.35, a PEG ratio of 2.46 and a beta of 1.24. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.27 and a quick ratio of 4.27.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.24). The company had revenue of $176.14 million for the quarter, compared to analyst estimates of $166.54 million. Sabra Health Care REIT had a return on equity of 1.87% and a net margin of 7.83%. Sabra Health Care REIT’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 earnings per share. Equities research analysts expect that Sabra Health Care REIT will post 1.37 earnings per share for the current year.

Hedge Funds Weigh In On Sabra Health Care REIT

Hedge funds have recently made changes to their positions in the business. Family Firm Inc. acquired a new stake in Sabra Health Care REIT during the 2nd quarter valued at $26,000. Neo Ivy Capital Management acquired a new position in Sabra Health Care REIT during the 4th quarter worth $41,000. Principal Securities Inc. acquired a new position in Sabra Health Care REIT during the 4th quarter worth $46,000. GAMMA Investing LLC grew its holdings in Sabra Health Care REIT by 40.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,682 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 1,052 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in Sabra Health Care REIT during the 4th quarter worth $56,000. 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.