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

Sabra Health Care REIT, Inc. (NASDAQ:SBRA - Get Free Report) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders of record on Monday, May 20th will be given a dividend of 0.30 per share by the real estate investment trust on Friday, May 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.26%. The ex-dividend date of this dividend is Friday, May 17th.

Sabra Health Care REIT has decreased its dividend payment by an average of 3.9% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Sabra Health Care REIT has a dividend payout ratio of 187.5% 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 $1.44 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 83.3%.

Sabra Health Care REIT Trading Up 0.3 %

Shares of Sabra Health Care REIT stock traded up $0.04 on Friday, hitting $14.53. The stock had a trading volume of 1,772,835 shares, compared to its average volume of 1,806,844. The stock has a 50 day moving average of $14.15 and a 200 day moving average of $14.04. Sabra Health Care REIT has a twelve month low of $10.30 and a twelve month high of $14.92. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.41 and a current ratio of 3.41. The firm has a market capitalization of $3.36 billion, a P/E ratio of 290.60, a PEG ratio of 5.25 and a beta of 1.17.

Analyst Ratings Changes

A number of brokerages recently issued reports on SBRA. Deutsche Bank Aktiengesellschaft began coverage on Sabra Health Care REIT in a report on Tuesday, January 30th. They issued a "buy" rating and a $21.00 target price on the stock. Wedbush reiterated an "outperform" rating and set a $17.00 target price on shares of Sabra Health Care REIT in a research note on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $15.77.

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.