Sabra Health Care REIT (NASDAQ:SBRA) Hits New 52-Week High After Analyst Upgrade

Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday after Scotiabank raised their price target on the stock from $14.00 to $15.00. Scotiabank currently has a sector perform rating on the stock. Sabra Health Care REIT traded as high as $14.92 and last traded at $14.84, with a volume of 73320 shares changing hands. The stock had previously closed at $14.69.

SBRA has been the topic of a number of other reports. Wedbush reaffirmed an "outperform" rating and set a $17.00 price target on shares of Sabra Health Care REIT in a research note on Thursday, February 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sabra Health Care REIT in a research report on Tuesday, January 30th. They issued a "buy" rating and a $21.00 price target for the company. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $15.71.

Institutional Trading of Sabra Health Care REIT

A number of large investors have recently added to or reduced their stakes in SBRA. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Sabra Health Care REIT by 7.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,427 shares of the real estate investment trust's stock worth $1,191,000 after purchasing an additional 6,032 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Sabra Health Care REIT by 15.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,565 shares of the real estate investment trust's stock worth $524,000 after buying an additional 4,886 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Sabra Health Care REIT by 3.9% in the third quarter. Daiwa Securities Group Inc. now owns 73,823 shares of the real estate investment trust's stock valued at $1,029,000 after buying an additional 2,764 shares during the period. M&T Bank Corp lifted its position in shares of Sabra Health Care REIT by 14.0% during the 3rd quarter. M&T Bank Corp now owns 24,029 shares of the real estate investment trust's stock valued at $335,000 after buying an additional 2,944 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Sabra Health Care REIT by 2.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 189,123 shares of the real estate investment trust's stock worth $2,636,000 after acquiring an additional 4,464 shares during the period. Hedge funds and other institutional investors own 99.40% of the company's stock.

Sabra Health Care REIT Price Performance

The firm has a 50 day moving average price of $14.18 and a two-hundred day moving average price of $14.06. The company has a market cap of $3.36 billion, a P/E ratio of 73.70, a P/E/G ratio of 5.20 and a beta of 1.17. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.33 and a current ratio of 4.33.

Sabra Health Care REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 8.27%. Sabra Health Care REIT's dividend payout ratio is presently 600.00%.

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.