Sabra Healthcare REIT, Inc. (NASDAQ:SBRA) Receives $19.67 Average PT from Analysts

Key Points

• Sabra Healthcare REIT has received a consensus rating of "Moderate Buy" from analysts, with an average 12-month price target set at $19.67.
• Hedge funds have increased their stakes in Sabra Healthcare REIT, with significant investments made by the State of Michigan Retirement System and others during the first quarter of 2023.
• The company recently announced a quarterly dividend of $0.30 per share, which corresponds to an annualized yield of 6.59%, although it has a high payout ratio of 203.39%.

Sabra Healthcare REIT, Inc. (NASDAQ:SBRA - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $19.67.

Separately, Scotiabank increased their price target on Sabra Healthcare REIT from $19.00 to $20.00 and gave the company a "sector perform" rating in a report on Monday, June 23rd.

Insider Buying and Selling at Sabra Healthcare REIT

In other news, Director Michael J. Foster sold 11,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $18.22, for a total transaction of $200,420.00. Following the sale, the director directly owned 64,725 shares in the company, valued at approximately $1,179,289.50. This represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.

Institutional Trading of Sabra Healthcare REIT

Several large investors have recently added to or reduced their stakes in the business. State of Michigan Retirement System increased its position in Sabra Healthcare REIT by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 56,649 shares of the real estate investment trust's stock valued at $990,000 after acquiring an additional 600 shares during the period. Louisiana State Employees Retirement System increased its position in Sabra Healthcare REIT by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 66,300 shares of the real estate investment trust's stock valued at $1,158,000 after acquiring an additional 600 shares during the period. Harbor Capital Advisors Inc. increased its position in Sabra Healthcare REIT by 17.2% in the 1st quarter. Harbor Capital Advisors Inc. now owns 4,377 shares of the real estate investment trust's stock valued at $76,000 after acquiring an additional 642 shares during the period. Diversify Advisory Services LLC increased its position in Sabra Healthcare REIT by 5.7% in the 1st quarter. Diversify Advisory Services LLC now owns 12,878 shares of the real estate investment trust's stock valued at $226,000 after acquiring an additional 689 shares during the period. Finally, IFP Advisors Inc increased its position in Sabra Healthcare REIT by 16.2% in the 1st quarter. IFP Advisors Inc now owns 5,060 shares of the real estate investment trust's stock valued at $88,000 after acquiring an additional 706 shares during the period. 99.40% of the stock is currently owned by institutional investors and hedge funds.

Sabra Healthcare REIT Stock Up 0.6%

Shares of NASDAQ SBRA traded up $0.10 on Friday, hitting $18.08. The company had a trading volume of 1,127,649 shares, compared to its average volume of 2,406,271. Sabra Healthcare REIT has a 12-month low of $15.60 and a 12-month high of $20.03. The business has a 50 day moving average of $18.09 and a two-hundred day moving average of $17.47. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $4.30 billion, a P/E ratio of 30.67, a PEG ratio of 1.51 and a beta of 0.85.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. The firm had revenue of $183.54 million during the quarter, compared to the consensus estimate of $180.23 million. Sabra Healthcare REIT had a return on equity of 5.14% and a net margin of 19.55%. Sabra Healthcare REIT's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 earnings per share. As a group, equities research analysts forecast that Sabra Healthcare REIT will post 1.45 earnings per share for the current fiscal year.

Sabra Healthcare REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date of this dividend was Friday, May 16th. Sabra Healthcare REIT's payout ratio is 203.39%.

About Sabra Healthcare REIT

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.