Sabra Health Care REIT (NASDAQ:SBRA) Issues Earnings Results

Sabra Health Care REIT (NASDAQ:SBRA) posted its earnings results on Thursday. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.22), Zacks reports. The company had revenue of $178.00 million for the quarter, compared to analyst estimates of $177.19 million. Sabra Health Care REIT had a return on equity of 3.50% and a net margin of 14.20%. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Sabra Health Care REIT updated its FY 2024 guidance to 1.390-1.400 EPS.

Sabra Health Care REIT Stock Down 3.9 %

Shares of SBRA traded down $0.76 during midday trading on Friday, hitting $18.64. The stock had a trading volume of 8,134,848 shares, compared to its average volume of 1,540,569. The company has a debt-to-equity ratio of 0.89, a current ratio of 4.27 and a quick ratio of 4.27. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 45.46, a price-to-earnings-growth ratio of 2.77 and a beta of 1.25. The company has a 50 day simple moving average of $18.21 and a two-hundred day simple moving average of $16.19. Sabra Health Care REIT has a twelve month low of $12.83 and a twelve month high of $19.78.

Sabra Health Care REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.44%. The ex-dividend date is Friday, November 15th. Sabra Health Care REIT’s dividend payout ratio (DPR) is presently 292.69%.

Wall Street Analysts Forecast Growth

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

Sabra Health Care REIT Company Profile

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.