Sabra Health Care REIT (NASDAQ:SBRA) Posts Quarterly Earnings Results, Misses Expectations By $0.22 EPS

Sabra Health Care REIT (NASDAQ:SBRA) announced its quarterly earnings data on Thursday. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22), Zacks reports. The company had revenue of $178.00 million for the quarter, compared to analysts’ expectations of $177.19 million. Sabra Health Care REIT had a net margin of 14.20% and a return on equity of 3.50%. During the same period last year, the firm earned $0.34 earnings per share. Sabra Health Care REIT updated its FY 2024 guidance to 1.390-1.400 EPS.

Sabra Health Care REIT Price Performance

Shares of Sabra Health Care REIT stock traded down $0.76 on Friday, hitting $18.64. The company’s stock had a trading volume of 8,134,848 shares, compared to its average volume of 1,540,569. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 45.46, a price-to-earnings-growth ratio of 2.77 and a beta of 1.25. Sabra Health Care REIT has a 1 year low of $12.83 and a 1 year high of $19.78. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.27 and a current ratio of 4.27. The firm has a fifty day moving average price of $18.21 and a 200-day moving average price of $16.19.

Sabra Health Care REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.44%. Sabra Health Care REIT’s dividend payout ratio (DPR) is currently 292.69%.

Analysts Set New Price Targets

SBRA has been the topic of a number of research reports. Scotiabank increased their price objective on Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. Truist Financial raised 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 research report on Wednesday, September 4th. Wells Fargo & Company raised shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $16.00 to $20.00 in a report on Tuesday, October 1st. Finally, Citigroup raised shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and raised their target price for the stock from $17.00 to $20.00 in a report on Friday, September 13th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Sabra Health Care REIT currently has an average rating of “Moderate Buy” and a consensus target price of $18.38.

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.