Zacks Investment Research upgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from a hold rating to a buy rating in a report issued on Thursday, Zacks.com reports. The brokerage currently has $24.00 target price on the real estate investment trust’s stock.
According to Zacks, “Sabra Health Care REIT, Inc. is a real estate investment trust that owns and invests in real estate serving the healthcare industry. The trust owns nursing homes, rehabilitation centers, assisted living facilities, and independent living centers. It leases properties to tenants and operators throughout the United States. Sabra Health Care REIT, Inc. is based in Irvine, California. “
Several other equities research analysts have also issued reports on the stock. BidaskClub raised shares of Sabra Health Care REIT from a buy rating to a strong-buy rating in a research report on Saturday, August 10th. TheStreet raised shares of Sabra Health Care REIT from a c+ rating to a b rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and an average price target of $20.20.
Sabra Health Care REIT (NASDAQ:SBRA) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). Sabra Health Care REIT had a return on equity of 0.67% and a net margin of 3.37%. The business had revenue of $219.37 million during the quarter, compared to analyst estimates of $162.17 million. As a group, equities analysts forecast that Sabra Health Care REIT will post 1.87 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 8.36%. The ex-dividend date is Monday, August 19th. Sabra Health Care REIT’s payout ratio is currently 78.60%.
In other news, Director Michael J. Foster sold 15,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $20.78, for a total value of $311,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in SBRA. Geode Capital Management LLC lifted its position in Sabra Health Care REIT by 13.8% during the fourth quarter. Geode Capital Management LLC now owns 2,134,155 shares of the real estate investment trust’s stock valued at $35,170,000 after purchasing an additional 258,266 shares in the last quarter. Retirement Systems of Alabama lifted its position in Sabra Health Care REIT by 0.4% during the first quarter. Retirement Systems of Alabama now owns 232,133 shares of the real estate investment trust’s stock valued at $4,520,000 after purchasing an additional 977 shares in the last quarter. Brinker Capital Inc. lifted its position in Sabra Health Care REIT by 31.1% during the first quarter. Brinker Capital Inc. now owns 41,535 shares of the real estate investment trust’s stock valued at $809,000 after purchasing an additional 9,855 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Sabra Health Care REIT by 68.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 50,323 shares of the real estate investment trust’s stock valued at $980,000 after purchasing an additional 20,376 shares in the last quarter. Finally, Creative Planning lifted its position in Sabra Health Care REIT by 1.6% during the first quarter. Creative Planning now owns 42,024 shares of the real estate investment trust’s stock valued at $818,000 after purchasing an additional 660 shares in the last quarter. Institutional investors and hedge funds own 88.01% of the company’s stock.
About Sabra Health Care REIT
As of December 31, 2018, Sabra's investment portfolio included 470 real estate properties held for investment (consisting of (i) 335 Skilled Nursing/Transitional Care facilities, (ii) 90 Senior Housing communities (Senior Housing – Leased), (iii) 23 Senior Housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing – Managed) and (iv) 22 Specialty Hospitals and Other facilities), one investment in a direct financing lease, 22 investments in loans receivable (consisting of (i) one mortgage loan, (ii) two construction loans, (iii) one mezzanine loan and (iv) 18 other loans), nine preferred equity investments and one investment in an unconsolidated joint venture that owns 172 Senior Housing – Managed communities.
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