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

Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Get Free Report) declared a quarterly dividend on Thursday, October 31st, Zacks reports. Stockholders 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 payment by an average of 3.9% per year 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 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 Price Performance

Shares of Sabra Health Care REIT stock traded down $0.76 during trading 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. The business has a fifty day moving average of $18.21 and a two-hundred day moving average of $16.17. The firm has a market cap of $4.37 billion, a P/E ratio of 45.46, a PEG ratio of 2.77 and a beta of 1.25. Sabra Health Care REIT has a fifty-two week low of $12.83 and a fifty-two week high of $19.78. 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 announced 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). Sabra Health Care REIT had a return on equity of 3.50% and a net margin of 14.20%. The business had revenue of $176.14 million during the quarter, compared to analyst estimates of $166.54 million. During the same period in the prior year, the firm earned $0.34 EPS. The business'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 will post 1.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SBRA has been the subject of a number of recent research reports. Wells Fargo & Company upgraded Sabra Health Care REIT from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $16.00 to $20.00 in a research report on Tuesday, October 1st. Truist Financial boosted their target price 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. Citigroup upgraded Sabra Health Care REIT from a "neutral" rating to a "buy" rating and increased their price target for the company from $17.00 to $20.00 in a research report on Friday, September 13th. Finally, Scotiabank boosted their price objective 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $18.38.

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.