JMP Securities Increases Sabra Healthcare REIT (NASDAQ:SBRA) Price Target to $22.00

Key Points

• JMP Securities raised its price target for Sabra Healthcare REIT from $20.00 to $22.00, indicating a potential upside of 19.79% based on the previous closing price.
• Sabra Healthcare REIT's stock increased by 1.0% during midday trading, reaching $18.37, with a market capitalization of $4.37 billion.
• The company reported $0.38 earnings per share in its latest quarter, surpassing analysts’ estimates and reflecting a 7.4% year-over-year revenue increase to $189.15 million.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) had its target price lifted by stock analysts at JMP Securities from $20.00 to $22.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "market outperform" rating on the real estate investment trust's stock. JMP Securities' price target points to a potential upside of 17.62% from the company's previous close.

Separately, Scotiabank increased their target price on Sabra Healthcare REIT from $19.00 to $20.00 and gave the stock a "sector perform" rating in a research report on Monday, June 23rd. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.00.

Sabra Healthcare REIT Price Performance

Sabra Healthcare REIT stock traded up $0.03 during midday trading on Wednesday, reaching $18.71. The company's stock had a trading volume of 261,440 shares, compared to its average volume of 2,429,029. The stock's 50 day simple moving average is $18.22 and its 200 day simple moving average is $17.54. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.22 and a current ratio of 4.80. The firm has a market capitalization of $4.49 billion, a PE ratio of 24.61, a P/E/G ratio of 1.53 and a beta of 0.86. Sabra Healthcare REIT has a fifty-two week low of $15.60 and a fifty-two week high of $20.03.

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. Sabra Healthcare REIT had a return on equity of 6.69% and a net margin of 24.87%. The company had revenue of $189.15 million for the quarter, compared to analyst estimates of $185.64 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. Sabra Healthcare REIT's revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts forecast that Sabra Healthcare REIT will post 1.45 earnings per share for the current year.

Insider Activity at Sabra Healthcare REIT

In related news, Director Michael J. Foster sold 11,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $18.22, for a total value of $200,420.00. Following the sale, the director directly owned 64,725 shares of the company's stock, valued at $1,179,289.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Sabra Healthcare REIT

A number of institutional investors have recently modified their holdings of SBRA. American Century Companies Inc. boosted its position in Sabra Healthcare REIT by 14.9% during the 4th quarter. American Century Companies Inc. now owns 52,603 shares of the real estate investment trust's stock valued at $911,000 after purchasing an additional 6,802 shares during the period. LPL Financial LLC grew its position in shares of Sabra Healthcare REIT by 8.8% during the fourth quarter. LPL Financial LLC now owns 125,311 shares of the real estate investment trust's stock worth $2,170,000 after acquiring an additional 10,148 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Sabra Healthcare REIT by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 6,381,525 shares of the real estate investment trust's stock worth $110,550,000 after acquiring an additional 86,727 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Sabra Healthcare REIT by 13.4% in the 4th quarter. Wells Fargo & Company MN now owns 349,804 shares of the real estate investment trust's stock worth $6,059,000 after acquiring an additional 41,227 shares during the period. Finally, Resona Asset Management Co. Ltd. bought a new stake in Sabra Healthcare REIT in the 4th quarter valued at about $1,597,000. Institutional investors own 99.40% of the company's stock.

Sabra Healthcare REIT Company Profile

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.