Sabra Health Care REIT (NASDAQ:SBRA) Sets New 1-Year High - What's Next?

Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $19.33 and last traded at $19.29, with a volume of 876219 shares. The stock had previously closed at $19.07.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SBRA shares. Citigroup raised shares of Sabra Health Care REIT from a "neutral" rating to a "buy" rating and increased their price objective for the company from $17.00 to $20.00 in a research report on Friday, September 13th. Wells Fargo & Company upgraded 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 report on Tuesday, October 1st. Truist Financial boosted their price objective on Sabra Health Care REIT from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Finally, Scotiabank increased their target price on Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a "sector perform" rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.38.

Sabra Health Care REIT Trading Up 1.0 %

The firm has a market capitalization of $4.46 billion, a PE ratio of 96.35, a price-to-earnings-growth ratio of 2.69 and a beta of 1.26. The stock's 50-day moving average price is $18.04 and its 200 day moving average price is $16.09. 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 (NASDAQ:SBRA - Get Free Report) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.24). Sabra Health Care REIT had a net margin of 7.83% and a return on equity of 1.87%. The business had revenue of $176.14 million for the quarter, compared to analyst estimates of $166.54 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The company's revenue for the quarter was up 9.3% on a year-over-year basis. On average, sell-side analysts expect that Sabra Health Care REIT, Inc. will post 1.39 EPS for the current fiscal year.

Sabra Health Care REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a yield of 6.23%. Sabra Health Care REIT's dividend payout ratio (DPR) is presently 600.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SBRA. State of Michigan Retirement System raised its position in Sabra Health Care REIT by 2.3% during the first quarter. State of Michigan Retirement System now owns 56,749 shares of the real estate investment trust's stock worth $838,000 after acquiring an additional 1,300 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Sabra Health Care REIT by 0.6% during the first quarter. State of Alaska Department of Revenue now owns 135,087 shares of the real estate investment trust's stock worth $1,993,000 after purchasing an additional 755 shares during the period. Wealthstar Advisors LLC raised its holdings in shares of Sabra Health Care REIT by 8.7% during the first quarter. Wealthstar Advisors LLC now owns 39,997 shares of the real estate investment trust's stock worth $591,000 after purchasing an additional 3,212 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Sabra Health Care REIT by 1.4% during the first quarter. Commonwealth Equity Services LLC now owns 64,952 shares of the real estate investment trust's stock worth $959,000 after acquiring an additional 928 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in Sabra Health Care REIT by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 290,353 shares of the real estate investment trust's stock valued at $4,289,000 after buying an additional 761 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.