Sabra Health Care REIT, Inc. Declares Quarterly Dividend of $0.30 (NASDAQ:SBRA)

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.30 per share by the real estate investment trust on Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.44%. The ex-dividend date of this dividend is Friday, November 15th.

Sabra Health Care REIT has decreased its dividend payment by an average of 3.9% per year over the last three years. Sabra Health Care REIT has a dividend payout ratio of 176.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Sabra Health Care REIT to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 82.8%.

Sabra Health Care REIT Price Performance

Shares of Sabra Health Care REIT stock traded down $0.76 during trading on Friday, reaching $18.64. 8,134,848 shares of the company’s stock were exchanged, compared to its average volume of 1,540,569. The firm’s 50-day moving average price is $18.21 and its 200 day moving average price is $16.17. The company has a market cap of $4.37 billion, a P/E ratio of 45.46, a PEG ratio of 2.77 and a beta of 1.25. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.27 and a current ratio of 4.27. Sabra Health Care REIT has a 1-year low of $12.83 and a 1-year high of $19.78.

Sabra Health Care REIT (NASDAQ:SBRA) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.24). The company had revenue of $176.14 million during the quarter, compared to analyst estimates of $166.54 million. Sabra Health Care REIT had a net margin of 14.20% and a return on equity of 3.50%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 earnings per share. As a group, research analysts anticipate that Sabra Health Care REIT will post 1.39 earnings per share for the current year.

Analyst Ratings Changes

SBRA has been the topic of several recent research reports. Truist Financial raised their price objective on Sabra Health Care REIT from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Citigroup raised Sabra Health Care REIT from a “neutral” rating to a “buy” rating and lifted their price target for the company from $17.00 to $20.00 in a research note on Friday, September 13th. Wells Fargo & Company raised Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $16.00 to $20.00 in a research note on Tuesday, October 1st. Finally, Scotiabank raised their price objective on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.38.

About Sabra Health Care REIT

As of September 30, 2023, Sabra's investment portfolio included 377 real estate properties held for investment (consisting of (i) 240 Skilled Nursing/Transitional Care facilities, (ii) 43 senior housing communities (Senior Housing – Leased), (iii) 61 senior housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing – Managed), (iv) 18 Behavioral Health facilities and (v) 15 Specialty Hospitals and Other facilities), 12 investments in loans receivable (consisting of two mortgage loans and 10 other loans), five preferred equity investments and two investments in unconsolidated joint ventures.