Sabra Health Care REIT (NASDAQ:SBRA) Updates FY 2024 Earnings Guidance

Sabra Health Care REIT (NASDAQ:SBRA) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.390-1.400 for the period, compared to the consensus earnings per share estimate of 1.380. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

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

Sabra Health Care REIT Stock Down 0.9 %

Shares of NASDAQ SBRA traded down $0.18 during mid-day trading on Thursday, hitting $19.40. The company had a trading volume of 2,064,853 shares, compared to its average volume of 2,016,623. Sabra Health Care REIT has a one year low of $12.83 and a one year high of $19.73. The company has a market capitalization of $4.49 billion, a PE ratio of 97.00, a price-to-earnings-growth ratio of 2.69 and a beta of 1.26. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.89. The firm has a 50-day simple moving average of $18.11 and a two-hundred day simple moving average of $16.12.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share 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 company had revenue of $176.14 million for the quarter, compared to analyst estimates of $166.54 million. During the same period last year, the firm earned $0.34 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities analysts expect that Sabra Health Care REIT will post 1.39 EPS for the current year.

Sabra Health Care REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date of this dividend was Monday, August 19th. Sabra Health Care REIT’s payout ratio is currently 600.00%.

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.