Sabra Health Care REIT Sees Unusually-High Trading Volume After Dividend Announcement (SBRA)
Sabra Health Care REIT (NASDAQ:SBRA) saw an uptick in trading volume on Wednesday following a dividend announcement from the company, Stock Ratings Network.com reports. 3,351,088 shares changed hands during mid-day trading, an increase of 480% from the previous session’s volume of 577,963 shares.The stock last traded at $28.74 and had previously closed at $29.61.
The newly announced dividend is scheduled for Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date of this dividend is Tuesday, May 13th. This is a positive change from Sabra Health Care REIT’s previous quarterly dividend of $0.36.
A number of research firms have recently commented on SBRA. Analysts at Stifel Nicolaus raised their price target on shares of Sabra Health Care REIT from $31.00 to $32.00 in a research note on Tuesday. Separately, analysts at Zacks downgraded shares of Sabra Health Care REIT from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, analysts at TheStreet upgraded shares of Sabra Health Care REIT from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $31.75.
The stock’s 50-day moving average is $28.9 and its 200-day moving average is $27.45. The company has a market cap of $1.115 billion and a P/E ratio of 43.54.
Sabra Health Care REIT (NASDAQ:SBRA) last announced its earnings results on Monday, May 5th. The company reported $0.55 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.01. The company had revenue of $40.85 million for the quarter, compared to the consensus estimate of $35.75 million. During the same quarter last year, the company posted $0.47 earnings per share. On average, analysts predict that Sabra Health Care REIT will post $2.32 earnings per share for the current fiscal year.
Sabra Health Care REIT, Inc (NASDAQ:SBRA) as a wholly owned subsidiary of Sun Healthcare Group, Inc, a provider of nursing, rehabilitative and related specialty healthcare services to the senior population in the United States.
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