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

Sabra Health Care REIT (NASDAQ:SBRA - Get Free Report) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.22), Zacks reports. The firm had revenue of $178.00 million during the quarter, compared to the consensus estimate of $177.19 million. Sabra Health Care REIT had a net margin of 14.20% and a return on equity of 3.50%. During the same period in the previous year, the firm posted $0.34 EPS. Sabra Health Care REIT updated its FY 2024 guidance to 1.390-1.400 EPS.

Sabra Health Care REIT Stock Performance

NASDAQ SBRA traded down $0.76 during trading on Friday, hitting $18.64. The company's 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 52 week low of $12.83 and a 52 week high of $19.78. The firm has a market cap 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 moving average price of $18.21 and a 200 day moving average price of $16.19. The company has a quick ratio of 4.27, a current ratio of 4.27 and a debt-to-equity ratio of 0.89.

Sabra Health Care REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.20 annualized dividend and a yield of 6.44%. Sabra Health Care REIT's payout ratio is 292.69%.

Wall Street Analyst Weigh In

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