Sabra Healthcare REIT (NASDAQ:SBRA) Stock Gets Price Target Trim from Wells Fargo & Company

Sabra Healthcare REIT (NASDAQ:SBRA) had its target price trimmed by Wells Fargo & Company from $23.00 to $21.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

A number of other analysts have also commented on SBRA. Barclays reduced their target price on Sabra Healthcare REIT from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Tuesday, October 13th. Huntington initiated coverage on Sabra Healthcare REIT in a report on Thursday, September 10th. They set an “outperform” rating and a $23.00 price target on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sabra Healthcare REIT in a report on Wednesday, July 22nd. Mizuho set a $21.00 price objective on Sabra Healthcare REIT in a research report on Monday, August 31st. Finally, Weiss Ratings cut Sabra Healthcare REIT from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Sabra Healthcare REIT Price Performance

Shares of SBRA opened at $18.90 on Monday. The company has a market capitalization of $4.83 billion, a P/E ratio of 72.70, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $19.99 and a 200 day moving average of $20.07. Sabra Healthcare REIT has a twelve month low of $17.17 and a twelve month high of $22.77.

Sabra Healthcare REIT (NASDAQ:SBRA) last announced its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.27). The firm had revenue of $230.11 million during the quarter, compared to analysts’ expectations of $219.39 million. Sabra Healthcare REIT had a return on equity of 2.34% and a net margin of 7.61%. Sabra Healthcare REIT’s revenue was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. As a group, equities research analysts anticipate that Sabra Healthcare REIT will post 1.52 earnings per share for the current fiscal year.

Sabra Healthcare REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.3%. The ex-dividend date was Friday, August 14th. Sabra Healthcare REIT’s dividend payout ratio is 461.54%.

Insider Activity

In related news, CEO Richard Matros sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $20.83, for a total value of $4,166,000.00. Following the transaction, the chief executive officer owned 1,657,686 shares of the company’s stock, valued at approximately $34,529,599.38. This trade represents a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.09% of the company’s stock.

Institutional Trading of Sabra Healthcare REIT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its position in Sabra Healthcare REIT by 70.0% in the second quarter. Versant Capital Management Inc now owns 1,465 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 603 shares during the period. Mather Group LLC. boosted its stake in shares of Sabra Healthcare REIT by 34,550.0% during the 3rd quarter. Mather Group LLC. now owns 2,772 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 2,764 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Sabra Healthcare REIT during the 2nd quarter valued at $61,000. Ameritas Advisory Services LLC bought a new stake in shares of Sabra Healthcare REIT during the 2nd quarter valued at $82,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Sabra Healthcare REIT by 21.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,708 shares of the real estate investment trust’s stock valued at $91,000 after acquiring an additional 817 shares during the period. 99.40% of the stock is owned by hedge funds and other institutional investors.

About Sabra Healthcare REIT

Sabra Healthcare REIT, Inc is a self-managed real estate investment trust that owns and invests in healthcare-related real estate. The company focuses primarily on properties used for skilled nursing and transitional care, senior housing, behavioral health, specialty hospitals and other healthcare services.

Sabra leases properties to healthcare operators and also provides capital through loans, joint ventures and other real estate investments. Its portfolio is designed to support a range of care settings, including facilities serving seniors, patients requiring rehabilitation and individuals receiving behavioral healthcare.

Founded in 2010 and headquartered in Irvine, California, Sabra has expanded through acquisitions, development investments and strategic transactions, including its 2017 combination with Care Capital Properties.