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

Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Get Free Report) announced a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Investors of record on Friday, February 14th will be given a dividend of 0.30 per share by the real estate investment trust on Friday, February 28th. This represents a $1.20 annualized dividend and a yield of 7.19%. The ex-dividend date of this dividend is Friday, February 14th.

Sabra Health Care REIT has increased its dividend by an average of 24.3% per year over the last three years. Sabra Health Care REIT has a payout ratio of 160.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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

NASDAQ:SBRA traded down $0.10 during trading hours on Friday, hitting $16.69. 4,093,844 shares of the stock traded hands, compared to its average volume of 1,582,162. The stock has a 50 day moving average price of $17.17 and a 200 day moving average price of $17.62. 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 $3.95 billion, a price-to-earnings ratio of 40.71, a price-to-earnings-growth ratio of 2.02 and a beta of 1.25. Sabra Health Care REIT has a 1 year low of $12.98 and a 1 year high of $20.03.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SBRA. Truist Financial cut Sabra Health Care REIT from a "buy" rating to a "hold" rating and cut their target price for the stock from $18.00 to $17.00 in a research report on Friday, January 17th. Mizuho reiterated 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. JMP Securities upgraded shares of Sabra Health Care REIT from a "market perform" rating to an "outperform" rating and set a $20.00 target price for the company in a research report on Tuesday, January 7th. Scotiabank raised their target price on shares of 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. Finally, Citizens Jmp upgraded shares of Sabra Health Care REIT from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.86.

Sabra Health Care REIT Company Profile

Sabra Health Care REIT, Inc engages in the business of acquiring, financing, and owning real estate property. The company was founded on May 10, 2010 and is headquartered in Tustin, CA.