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

Sabra Health Care REIT (NASDAQ:SBRA) issued 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. Sabra Health Care REIT had a return on equity of 3.50% and a net margin of 14.20%. The firm had revenue of $178.00 million for the quarter, compared to the consensus estimate of $177.19 million. During the same quarter in the prior year, the firm earned $0.34 EPS. Sabra Health Care REIT updated its FY 2024 guidance to 1.390-1.400 EPS.

Sabra Health Care REIT Stock Down 3.9 %

Shares of SBRA traded down $0.76 during trading hours on Friday, hitting $18.64. The stock had a trading volume of 8,134,848 shares, compared to its average volume of 1,540,569. Sabra Health Care REIT has a 1-year low of $12.83 and a 1-year high of $19.78. The firm has a market capitalization of $4.37 billion, a P/E ratio of 45.46, a price-to-earnings-growth ratio of 2.77 and a beta of 1.25. The firm has a 50 day simple moving average of $18.21 and a 200-day simple moving average of $16.19. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.27 and a quick ratio of 4.27.

Sabra Health Care REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.30 per share. 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 presently 292.69%.

Wall Street Analyst Weigh In

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