Sabra Health Care REIT (NASDAQ:SBRA) Upgraded at Citigroup

Citigroup upgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from a neutral rating to a buy rating in a research note published on Friday, Marketbeat Ratings reports. Citigroup currently has $20.00 price target on the real estate investment trust’s stock, up from their prior price target of $17.00.

SBRA has been the topic of several other reports. Scotiabank lifted their price target on shares of Sabra Health Care REIT from $15.00 to $17.00 and gave the stock a sector perform rating in a report on Monday, August 26th. Truist Financial lifted their price target on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a buy rating in a report on Wednesday, September 4th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $17.09.

Sabra Health Care REIT Stock Performance

Shares of SBRA stock opened at $18.79 on Friday. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 93.95, a PEG ratio of 2.65 and a beta of 1.26. The company’s 50 day moving average is $16.64 and its 200 day moving average is $15.16. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.89. Sabra Health Care REIT has a 52-week low of $12.83 and a 52-week high of $18.85.

Sabra Health Care REIT (NASDAQ:SBRA) last released its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.24). Sabra Health Care REIT had a return on equity of 1.87% and a net margin of 7.83%. The firm had revenue of $176.14 million during the quarter, compared to analysts’ expectations of $166.54 million. During the same period in the prior year, the firm posted $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. On average, sell-side analysts anticipate that Sabra Health Care REIT will post 1.37 EPS for the current fiscal year.

Sabra Health Care REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a yield of 6.39%. Sabra Health Care REIT’s dividend payout ratio is presently 600.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Sabra Health Care REIT by 2.5% during the first quarter. Vanguard Group Inc. now owns 34,972,611 shares of the real estate investment trust’s stock valued at $516,545,000 after purchasing an additional 838,654 shares during the period. Principal Financial Group Inc. raised its position in shares of Sabra Health Care REIT by 0.4% in the first quarter. Principal Financial Group Inc. now owns 21,571,121 shares of the real estate investment trust’s stock worth $318,605,000 after acquiring an additional 83,842 shares during the period. Janus Henderson Group PLC raised its position in shares of Sabra Health Care REIT by 2.9% in the first quarter. Janus Henderson Group PLC now owns 5,199,682 shares of the real estate investment trust’s stock worth $76,701,000 after acquiring an additional 145,548 shares during the period. LSV Asset Management raised its position in shares of Sabra Health Care REIT by 2.5% in the second quarter. LSV Asset Management now owns 4,380,815 shares of the real estate investment trust’s stock worth $67,465,000 after acquiring an additional 104,800 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Sabra Health Care REIT by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,190,587 shares of the real estate investment trust’s stock worth $59,800,000 after acquiring an additional 94,304 shares during the period. 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.