Sabra Health Care REIT (NASDAQ:SBRA) Lowered to Hold Rating by Truist Financial

Truist Financial cut shares of Sabra Health Care REIT (NASDAQ:SBRA) from a buy rating to a hold rating in a report released on Friday morning, Marketbeat reports. The brokerage currently has $17.00 target price on the real estate investment trust’s stock, down from their previous target price of $18.00.

Several other research firms have also recently weighed in on SBRA. Citizens Jmp upgraded Sabra Health Care REIT from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Scotiabank raised their price target on Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th. Mizuho reissued a “neutral” rating and set a $20.00 price objective on shares of Sabra Health Care REIT in a research report on Thursday, December 5th. Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $16.00 to $20.00 in a report on Tuesday, October 1st. Finally, JMP Securities raised shares of Sabra Health Care REIT from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Sabra Health Care REIT currently has an average rating of “Moderate Buy” and a consensus price target of $19.13.

Sabra Health Care REIT Stock Down 1.4 %

Shares of NASDAQ SBRA opened at $16.94 on Friday. The firm’s fifty day moving average is $17.71 and its 200 day moving average is $17.51. Sabra Health Care REIT has a 52 week low of $12.83 and a 52 week high of $20.03. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.90. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 41.32, a PEG ratio of 2.05 and a beta of 1.26.

Sabra Health Care REIT (NASDAQ:SBRA) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). The firm had revenue of $178.00 million during 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 3.51%. During the same quarter in the previous year, the firm posted $0.34 EPS. On average, equities research analysts expect that Sabra Health Care REIT will post 1.39 earnings per share for the current year.

Sabra Health Care REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date was Friday, November 15th. Sabra Health Care REIT’s dividend payout ratio is presently 292.69%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SBRA. Rockefeller Capital Management L.P. grew its holdings in Sabra Health Care REIT by 4.5% in the third quarter. Rockefeller Capital Management L.P. now owns 15,369 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 655 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Sabra Health Care REIT by 0.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 177,161 shares of the real estate investment trust’s stock worth $3,068,000 after buying an additional 763 shares during the last quarter. GAMMA Investing LLC increased its position in Sabra Health Care REIT by 25.3% during the 3rd quarter. GAMMA Investing LLC now owns 4,614 shares of the real estate investment trust’s stock valued at $86,000 after buying an additional 932 shares in the last quarter. Inspire Investing LLC raised its stake in Sabra Health Care REIT by 4.5% during the fourth quarter. Inspire Investing LLC now owns 23,152 shares of the real estate investment trust’s stock valued at $401,000 after buying an additional 992 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Sabra Health Care REIT by 2.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 48,448 shares of the real estate investment trust’s stock worth $746,000 after acquiring an additional 1,168 shares in the last quarter. 99.40% of the stock is owned by hedge funds and other institutional investors.

About Sabra Health Care REIT

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.