Sabra Health Care REIT (NASDAQ:SBRA) Price Target Raised to $18.00

Sabra Health Care REIT (NASDAQ:SBRA - Get Free Report) had its price objective hoisted by equities researchers at Scotiabank from $17.00 to $18.00 in a research note issued on Friday, Benzinga reports. The firm currently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's price objective points to a potential downside of 0.11% from the company's previous close.

A number of other equities research analysts have also commented on SBRA. Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $16.00 to $20.00 in a report on Tuesday, October 1st. Citigroup raised Sabra Health Care REIT from a "neutral" rating to a "buy" rating and lifted their price target for the company from $17.00 to $20.00 in a research note on Friday, September 13th. Finally, Truist Financial upped their price objective on Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.11.

Sabra Health Care REIT Trading Up 1.6 %

Shares of Sabra Health Care REIT stock traded up $0.28 during trading on Friday, hitting $18.02. 942,567 shares of the company were exchanged, compared to its average volume of 2,043,442. The firm's fifty day moving average price is $17.48 and its 200 day moving average price is $15.71. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.27 and a quick ratio of 4.27. The firm has a market capitalization of $4.22 billion, a P/E ratio of 85.81, a price-to-earnings-growth ratio of 2.59 and a beta of 1.26. Sabra Health Care REIT has a 1-year low of $12.83 and a 1-year high of $19.32.

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). The business had revenue of $176.14 million during the quarter, compared to analyst estimates of $166.54 million. Sabra Health Care REIT had a net margin of 7.83% and a return on equity of 1.87%. The firm's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share. As a group, sell-side analysts expect that Sabra Health Care REIT will post 1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sabra Health Care REIT

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Sabra Health Care REIT by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 34,972,611 shares of the real estate investment trust's stock worth $516,545,000 after purchasing an additional 838,654 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Sabra Health Care REIT by 0.4% during the first quarter. Principal Financial Group Inc. now owns 21,571,121 shares of the real estate investment trust's stock worth $318,605,000 after purchasing an additional 83,842 shares during the period. Janus Henderson Group PLC increased its position in Sabra Health Care REIT by 2.9% during the first quarter. Janus Henderson Group PLC now owns 5,199,682 shares of the real estate investment trust's stock worth $76,701,000 after buying an additional 145,548 shares during the last quarter. LSV Asset Management raised its stake in Sabra Health Care REIT by 2.5% in the second quarter. LSV Asset Management now owns 4,380,815 shares of the real estate investment trust's stock valued at $67,465,000 after buying an additional 104,800 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Sabra Health Care REIT by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,394,562 shares of the real estate investment trust's stock valued at $52,275,000 after buying an additional 124,825 shares during the period. 99.40% of the stock is currently owned by institutional investors and hedge funds.

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.