JMP Securities Upgrades Sabra Health Care REIT (NASDAQ:SBRA) to "Outperform"

Sabra Health Care REIT (NASDAQ:SBRA - Get Free Report) was upgraded by analysts at JMP Securities from a "market perform" rating to an "outperform" rating in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $20.00 target price on the real estate investment trust's stock. JMP Securities' price objective points to a potential upside of 19.05% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Mizuho reissued a "neutral" rating and issued a $20.00 target price on shares of Sabra Health Care REIT in a report on Thursday, December 5th. Scotiabank boosted their price target on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a "sector perform" rating in a research note on Friday, October 11th. Citigroup upgraded Sabra Health Care REIT from a "neutral" rating to a "buy" rating and raised their price objective for the company from $17.00 to $20.00 in a research report on Friday, September 13th. Finally, Wells Fargo & Company raised Sabra Health Care REIT from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $16.00 to $20.00 in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Sabra Health Care REIT presently has an average rating of "Moderate Buy" and a consensus price target of $19.25.

Sabra Health Care REIT Price Performance

Shares of SBRA traded up $0.17 during trading hours on Tuesday, reaching $16.80. 1,873,293 shares of the stock traded hands, compared to its average volume of 1,595,897. The company has a market cap of $3.97 billion, a P/E ratio of 40.98, a price-to-earnings-growth ratio of 2.20 and a beta of 1.26. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.90. The company's 50-day moving average price is $18.05 and its two-hundred day moving average price is $17.44. Sabra Health Care REIT has a 52-week low of $12.83 and a 52-week high of $20.03.

Sabra Health Care REIT (NASDAQ:SBRA - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.22). Sabra Health Care REIT had a return on equity of 3.51% and a net margin of 14.20%. The business had revenue of $178.00 million during the quarter, compared to the consensus estimate of $177.19 million. During the same period last year, the company earned $0.34 EPS. On average, analysts anticipate that Sabra Health Care REIT will post 1.39 earnings per share for the current year.

Hedge Funds Weigh In On Sabra Health Care REIT

A number of institutional investors and hedge funds have recently modified their holdings of SBRA. Principal Financial Group Inc. lifted its position in Sabra Health Care REIT by 0.8% in the third quarter. Principal Financial Group Inc. now owns 21,573,436 shares of the real estate investment trust's stock worth $401,479,000 after buying an additional 167,069 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Sabra Health Care REIT by 222.4% in the third quarter. JPMorgan Chase & Co. now owns 9,886,917 shares of the real estate investment trust's stock valued at $183,996,000 after acquiring an additional 6,819,919 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Sabra Health Care REIT by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,294,798 shares of the real estate investment trust's stock worth $117,165,000 after acquiring an additional 104,533 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Sabra Health Care REIT by 8.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,701,881 shares of the real estate investment trust's stock worth $87,502,000 after purchasing an additional 365,855 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Sabra Health Care REIT by 3.8% during the 2nd 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 purchasing an additional 124,825 shares during the last quarter. Hedge funds and other institutional investors own 99.40% of the company's stock.

Sabra Health Care REIT Company Profile

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.