Sabra Healthcare REIT (NASDAQ:SBRA) Price Target Raised to $20.00 at Scotiabank

Sabra Healthcare REIT (NASDAQ:SBRA - Get Free Report) had its target price increased by investment analysts at Scotiabank from $19.00 to $20.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's price objective would suggest a potential upside of 8.23% from the company's previous close.

Separately, Truist Financial increased their target price on Sabra Healthcare REIT from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Tuesday, March 18th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sabra Healthcare REIT presently has an average rating of "Moderate Buy" and a consensus price target of $19.67.

Sabra Healthcare REIT Stock Performance

SBRA traded up $0.21 during trading hours on Monday, hitting $18.48. The stock had a trading volume of 2,300,791 shares, compared to its average volume of 2,290,460. Sabra Healthcare REIT has a 1 year low of $14.82 and a 1 year high of $20.03. The company's fifty day simple moving average is $17.82 and its 200 day simple moving average is $17.28. The stock has a market cap of $4.40 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.85. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.89.

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

Insider Buying and Selling at Sabra Healthcare REIT

In related news, Director Michael J. Foster sold 11,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $18.22, for a total value of $200,420.00. Following the transaction, the director now owns 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.20% of the company's stock.

Institutional Trading of Sabra Healthcare REIT

A number of institutional investors have recently made changes to their positions in the stock. State of Michigan Retirement System grew its holdings in shares of Sabra Healthcare REIT by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 56,649 shares of the real estate investment trust's stock worth $990,000 after acquiring an additional 600 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Sabra Healthcare REIT by 0.9% during the first 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 buying an additional 600 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Sabra Healthcare REIT by 17.2% during the first quarter. Harbor Capital Advisors Inc. now owns 4,377 shares of the real estate investment trust's stock valued at $76,000 after purchasing an additional 642 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Sabra Healthcare REIT by 33.4% during the 4th quarter. Assetmark Inc. now owns 2,618 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 656 shares during the period. Finally, Diversify Advisory Services LLC grew its stake in shares of Sabra Healthcare REIT by 5.7% during 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 purchasing an additional 689 shares during the period. Hedge funds and other 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.