Sabra Healthcare REIT, Inc. (NASDAQ:SBRA) Stock Has Average Price Target of $21.67

Shares of Sabra Healthcare REIT, Inc. (NASDAQ:SBRA) have been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $21.67.

SBRA has been the topic of a number of recent analyst reports. Barclays reduced their target price on Sabra Healthcare REIT from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 13th. Citizens Jmp boosted their target price on shares of Sabra Healthcare REIT from $23.00 to $25.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 22nd. Huntington initiated coverage on shares of Sabra Healthcare REIT in a report on Monday, November 2nd. They issued a “strong-buy” rating on the stock. Truist Financial upped their price target on shares of Sabra Healthcare REIT from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, Mizuho set a $21.00 price target on shares of Sabra Healthcare REIT in a research note on Monday, August 31st.

Sabra Healthcare REIT Trading Down 0.6%

SBRA opened at $20.44 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.21 and a current ratio of 1.21. The stock’s 50 day moving average price is $19.88 and its 200-day moving average price is $20.04. Sabra Healthcare REIT has a one year low of $17.53 and a one year high of $22.77. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 73.00, a P/E/G ratio of 1.79 and a beta of 0.68.

Sabra Healthcare REIT (NASDAQ:SBRA) last issued its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). Sabra Healthcare REIT had a return on equity of 2.55% and a net margin of 7.78%. The business had revenue of $249.57 million for the quarter, compared to the consensus estimate of $236.64 million. During the same period in the prior year, the business posted $0.38 earnings per share. Sabra Healthcare REIT’s revenue was up 31.4% on a year-over-year basis. On average, equities analysts forecast that Sabra Healthcare REIT will post 1.52 EPS for the current year.

Sabra Healthcare REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Friday, November 13th. Sabra Healthcare REIT’s dividend payout ratio is currently 428.57%.

Insider Buying and Selling

In other news, CEO Richard Matros sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $20.83, for a total transaction of $4,166,000.00. Following the transaction, the chief executive officer directly owned 1,657,686 shares of the company’s stock, valued at approximately $34,529,599.38. This trade represents a 10.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Foster sold 10,000 shares of Sabra Healthcare REIT stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $20.98, for a total transaction of $209,800.00. Following the sale, the director directly owned 72,834 shares of the company’s stock, valued at $1,528,057.32. This represents a 12.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.09% of the company’s stock.

Institutional Trading of Sabra Healthcare REIT

A number of hedge funds have recently added to or reduced their stakes in the business. Lasalle Investment Management Securities LLC raised its stake in Sabra Healthcare REIT by 8.2% in the first quarter. Lasalle Investment Management Securities LLC now owns 3,824,622 shares of the real estate investment trust’s stock valued at $73,547,000 after buying an additional 290,405 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Sabra Healthcare REIT by 7.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,725,337 shares of the real estate investment trust’s stock worth $71,640,000 after acquiring an additional 269,793 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Sabra Healthcare REIT by 70.2% during the third quarter. Russell Investments Group Ltd. now owns 1,856,730 shares of the real estate investment trust’s stock worth $36,615,000 after acquiring an additional 765,527 shares during the last quarter. Rush Island Management LP purchased a new stake in shares of Sabra Healthcare REIT during the first quarter worth about $30,735,000. Finally, Sound Income Strategies LLC grew its stake in shares of Sabra Healthcare REIT by 8.3% during the third quarter. Sound Income Strategies LLC now owns 1,051,751 shares of the real estate investment trust’s stock worth $19,815,000 after acquiring an additional 80,453 shares during the last quarter. 99.40% of the stock is owned by hedge funds and other institutional investors.

Sabra Healthcare REIT Company Profile

Sabra Health Care REIT, Inc. is a real estate investment trust that owns and invests in properties used to provide healthcare and senior living services. Its portfolio includes skilled nursing and transitional care facilities, senior housing communities, behavioral health facilities, and specialty hospitals. Sabra generally leases its properties to healthcare and senior living operators, providing real estate that supports their services. The company’s properties are located in the United States and Canada.