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

Sabra Healthcare REIT (NASDAQ:SBRA) had its price objective boosted by Scotiabank from $19.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Separately, Truist Financial increased their price target 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 equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sabra Healthcare REIT has an average rating of “Moderate Buy” and a consensus target price of $19.67.

Sabra Healthcare REIT Stock Performance

Shares of NASDAQ:SBRA opened at $18.27 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.22 and a quick ratio of 4.22. The business’s fifty day moving average price is $17.82 and its two-hundred day moving average price is $17.28. Sabra Healthcare REIT has a fifty-two week low of $14.66 and a fifty-two week high of $20.03. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 1.40 and a beta of 0.85.

Sabra Healthcare REIT (NASDAQ:SBRA) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. The company had revenue of $183.54 million for the quarter, compared to the consensus estimate of $180.23 million. Sabra Healthcare REIT had a net margin of 19.55% and a return on equity of 5.14%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 EPS. As a group, analysts predict that Sabra Healthcare REIT will post 1.45 EPS for the current fiscal year.

Sabra Healthcare REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 6.57%. The ex-dividend date was Friday, May 16th. Sabra Healthcare REIT’s dividend payout ratio (DPR) is presently 203.39%.

Insiders Place Their Bets

In other news, Director Michael J. Foster sold 11,000 shares of the company’s stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SBRA. Nuveen LLC acquired a new stake in shares of Sabra Healthcare REIT during the 1st quarter worth approximately $61,791,000. Norges Bank bought a new position in Sabra Healthcare REIT in the fourth quarter valued at approximately $48,950,000. Jefferies Financial Group Inc. grew its holdings in Sabra Healthcare REIT by 7,196.8% during the 1st quarter. Jefferies Financial Group Inc. now owns 1,466,000 shares of the real estate investment trust’s stock worth $25,611,000 after acquiring an additional 1,445,909 shares during the period. Swedbank AB bought a new stake in shares of Sabra Healthcare REIT during the 1st quarter valued at $19,336,000. Finally, Northern Trust Corp raised its position in shares of Sabra Healthcare REIT by 27.7% during the 4th quarter. Northern Trust Corp now owns 4,169,385 shares of the real estate investment trust’s stock valued at $72,214,000 after acquiring an additional 905,466 shares during the last quarter. 99.40% of the stock is currently owned by institutional investors and hedge funds.

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.