Sabra Healthcare REIT (NASDAQ:SBRA – Free Report) had its target price lifted by Scotiabank from $19.00 to $20.00 in a research note released on Monday morning,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.
Separately, Truist Financial boosted 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 investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.67.
Check Out Our Latest Stock Analysis on Sabra Healthcare REIT
Sabra Healthcare REIT Stock Performance
Sabra Healthcare REIT (NASDAQ:SBRA – Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Sabra Healthcare REIT had a return on equity of 5.14% and a net margin of 19.55%. The firm had revenue of $183.54 million for the quarter, compared to analysts’ expectations of $180.23 million. During the same period in the previous year, the firm posted $0.35 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts anticipate that Sabra Healthcare REIT will post 1.45 earnings per share for the current fiscal year.
Sabra Healthcare REIT Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.20 dividend on an annualized basis and a yield of 6.46%. Sabra Healthcare REIT’s payout ratio is currently 203.39%.
Insider Buying and Selling
In related news, Director Michael J. Foster sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $18.22, for a total value of $200,420.00. Following the completion of the transaction, the director now directly owns 64,725 shares in the company, valued at $1,179,289.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On Sabra Healthcare REIT
Hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its stake in Sabra Healthcare REIT by 12.4% during the 4th quarter. Private Advisor Group LLC now owns 30,323 shares of the real estate investment trust’s stock valued at $525,000 after buying an additional 3,355 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Sabra Healthcare REIT by 13.0% during the 4th quarter. Bank of New York Mellon Corp now owns 4,039,651 shares of the real estate investment trust’s stock valued at $69,967,000 after buying an additional 463,601 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Sabra Healthcare REIT by 30.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 64,467 shares of the real estate investment trust’s stock valued at $1,117,000 after buying an additional 14,925 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Sabra Healthcare REIT by 1.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 48,185 shares of the real estate investment trust’s stock valued at $835,000 after buying an additional 800 shares during the last quarter. Finally, QRG Capital Management Inc. raised its stake in Sabra Healthcare REIT by 5.0% during the 4th quarter. QRG Capital Management Inc. now owns 59,983 shares of the real estate investment trust’s stock valued at $1,039,000 after buying an additional 2,879 shares during the last quarter. 99.40% of the stock is currently owned by hedge funds and other institutional investors.
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.
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