Sabra Healthcare REIT (NASDAQ:SBRA) Price Target Cut to $21.00 by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo cut Sabra Healthcare REIT’s price target from $23 to $21 while maintaining an “overweight” rating, implying approximately 9.8% upside from the reported $19.13 share price.
• Analyst sentiment remains moderately positive, with seven Buy ratings and seven Holds, producing a consensus “Moderate Buy” rating and an average price target of $21.50.
• Sabra’s latest quarter showed a significant EPS miss, though revenue reached $230.1 million, up 24.7% year over year and above analyst expectations. The stock was down 1.1% in mid-day trading.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) had its price objective decreased by research analysts at Wells Fargo & Company from $23.00 to $21.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective would suggest a potential upside of 9.80% from the company's current price.

A number of other equities research analysts have also recently weighed in on the company. UBS Group decreased their price objective on Sabra Healthcare REIT from $21.00 to $20.00 and set a "neutral" rating for the company in a research note on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Sabra Healthcare REIT in a research report on Wednesday, July 22nd. Huntington began coverage on Sabra Healthcare REIT in a research note on Thursday, September 10th. They issued an "outperform" rating and a $23.00 target price on the stock. Truist Financial boosted their target price on shares of Sabra Healthcare REIT from $22.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Finally, Citizens Jmp increased their price target on shares of Sabra Healthcare REIT from $23.00 to $25.00 and gave the company a "market outperform" rating in a research report on Wednesday, July 22nd. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Sabra Healthcare REIT currently has a consensus rating of "Moderate Buy" and an average price target of $21.50.

Sabra Healthcare REIT Trading Down 1.1%

Sabra Healthcare REIT stock traded down $0.21 during mid-day trading on Monday, hitting $19.13. The company's stock had a trading volume of 1,307,158 shares, compared to its average volume of 2,674,123. The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.07 and a current ratio of 3.07. The company has a 50 day moving average of $20.06 and a 200-day moving average of $20.07. Sabra Healthcare REIT has a one year low of $17.17 and a one year high of $22.77. The stock has a market cap of $4.89 billion, a PE ratio of 73.56, a P/E/G ratio of 1.47 and a beta of 0.63.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) last issued its earnings results on Monday, August 3rd. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.27). Sabra Healthcare REIT had a return on equity of 2.34% and a net margin of 7.61%. The company had revenue of $230.11 million for the quarter, compared to analysts' expectations of $219.39 million. The business's revenue was up 24.7% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. On average, research analysts anticipate that Sabra Healthcare REIT will post 1.52 EPS for the current year.

Insider Buying and Selling at Sabra Healthcare REIT

In related news, CEO Richard Matros sold 200,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $20.83, for a total value of $4,166,000.00. Following the transaction, the chief executive officer owned 1,657,686 shares in the company, valued at approximately $34,529,599.38. This represents a 10.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.09% of the company's stock.

Hedge Funds Weigh In On Sabra Healthcare REIT

Several institutional investors and hedge funds have recently modified their holdings of SBRA. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Sabra Healthcare REIT by 6.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,208,600 shares of the real estate investment trust's stock valued at $61,701,000 after purchasing an additional 203,226 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Sabra Healthcare REIT by 7.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,725,337 shares of the real estate investment trust's stock worth $71,640,000 after purchasing an additional 269,793 shares during the last quarter. Readystate Asset Management LP acquired a new position in shares of Sabra Healthcare REIT during the 2nd quarter worth about $1,400,000. Entropy Technologies LP lifted its stake in Sabra Healthcare REIT by 299.6% in the 1st quarter. Entropy Technologies LP now owns 124,068 shares of the real estate investment trust's stock valued at $2,386,000 after buying an additional 93,021 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in Sabra Healthcare REIT by 424.3% in the 1st quarter. Quantinno Capital Management LP now owns 155,086 shares of the real estate investment trust's stock valued at $2,982,000 after buying an additional 125,507 shares in the last quarter. Institutional investors and hedge funds own 99.40% of the company's stock.

About Sabra Healthcare REIT

Sabra Healthcare REIT, Inc is a self-managed real estate investment trust that owns and invests in healthcare-related real estate. The company primarily provides capital to healthcare operators through property ownership, leases, mortgage loans, and other investment structures.

Sabra's portfolio has historically included skilled nursing facilities, senior housing communities, behavioral health facilities, specialty hospitals, and other healthcare properties. Its properties are generally leased to or operated by third-party healthcare providers, allowing the company to participate in the healthcare real estate market without directly delivering most patient-care services.

Founded in 2010, Sabra Healthcare REIT serves healthcare markets primarily in the United States, with investments that have also included select properties in Canada.

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