Sabra Healthcare REIT Inc. (SBRA) Upgraded to Buy by Zacks Investment Research
Sabra Healthcare REIT Inc. (NASDAQ:SBRA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $28.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 21.37% from the stock’s previous close.
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. “
SBRA has been the subject of several other reports. Cantor Fitzgerald restated a “buy” rating on shares of Sabra Healthcare REIT in a research report on Friday, September 9th. Bank of America Corp. downgraded Sabra Healthcare REIT from a “neutral” rating to an “underperform” rating in a research report on Monday, July 25th. Citigroup Inc. lowered their target price on shares of Sabra Healthcare REIT from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, July 7th. JMP Securities reaffirmed a “hold” rating on shares of Sabra Healthcare REIT in a research note on Friday, September 9th. Finally, BTIG Research assumed coverage on shares of Sabra Healthcare REIT in a research note on Thursday, August 25th. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $23.54.
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Sabra Healthcare REIT (NASDAQ:SBRA) traded down 1.20% on Wednesday, reaching $23.07. The company’s stock had a trading volume of 388,987 shares. The stock has a market capitalization of $1.51 billion, a P/E ratio of 27.56 and a beta of 1.05. The firm has a 50 day moving average price of $24.62 and a 200 day moving average price of $22.32. Sabra Healthcare REIT has a 52 week low of $14.92 and a 52 week high of $26.40.
Sabra Healthcare REIT (NASDAQ:SBRA) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Sabra Healthcare REIT had a return on equity of 6.27% and a net margin of 24.63%. The firm earned $74.20 million during the quarter, compared to the consensus estimate of $56.04 million. During the same period in the previous year, the firm posted $0.53 EPS. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. On average, equities analysts anticipate that Sabra Healthcare REIT will post $2.28 EPS for the current year.
A number of institutional investors have recently modified their holdings of SBRA. Copper Rock Capital Partners LLC purchased a new position in shares of Sabra Healthcare REIT during the third quarter worth approximately $4,165,000. Macquarie Group Ltd. raised its position in shares of Sabra Healthcare REIT by 15.5% in the second quarter. Macquarie Group Ltd. now owns 18,103 shares of the company’s stock worth $373,000 after buying an additional 2,425 shares in the last quarter. Mason Street Advisors LLC purchased a new position in shares of Sabra Healthcare REIT during the second quarter worth approximately $263,000. Public Employees Retirement System of Ohio raised its position in shares of Sabra Healthcare REIT by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 61,726 shares of the company’s stock worth $1,274,000 after buying an additional 445 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Sabra Healthcare REIT by 8.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 334,814 shares of the company’s stock worth $6,909,000 after buying an additional 26,038 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.
Sabra Healthcare REIT Company Profile
Sabra Health Care REIT, Inc is a real estate investment trust. The Company owns and invests in real estate serving the healthcare industry. The Company’s segment is investments in healthcare-related real estate properties. Its primary business consists of acquiring, financing and owning real estate property to be leased to third-party tenants in the healthcare sector.
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