Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Announces Quarterly Dividend of $0.30

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) declared a quarterly dividend on Thursday, October 31st, Zacks reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.30 per share by the real estate investment trust on Friday, November 29th. This represents a $1.20 annualized dividend and a dividend yield of 6.44%. The ex-dividend date of this dividend is Friday, November 15th.

Sabra Health Care REIT has decreased its dividend by an average of 3.9% annually over the last three years. Sabra Health Care REIT has a dividend payout ratio of 176.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Sabra Health Care REIT to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 82.8%.

Sabra Health Care REIT Trading Down 3.9 %

NASDAQ SBRA opened at $18.64 on Friday. The stock has a market cap of $4.37 billion, a PE ratio of 45.46, a PEG ratio of 2.77 and a beta of 1.25. The company’s 50-day moving average price is $18.21 and its 200-day moving average price is $16.17. Sabra Health Care REIT has a 12 month low of $12.83 and a 12 month high of $19.78. The company has a current ratio of 4.27, a quick ratio of 4.27 and a debt-to-equity ratio of 0.89.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings data 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). The business had revenue of $176.14 million for the quarter, compared to analysts’ expectations of $166.54 million. Sabra Health Care REIT had a net margin of 14.20% and a return on equity of 3.50%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share. Equities research analysts forecast that Sabra Health Care REIT will post 1.39 earnings per share for the current year.

Wall Street Analyst Weigh In

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