Sabra Healthcare REIT Inc. (NASDAQ:SBRA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $28.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 12.68% from the company’s current price.

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 research reports. JMP Securities reissued a “hold” rating on shares of Sabra Healthcare REIT in a research note on Friday, September 9th. Cantor Fitzgerald reissued a “buy” rating on shares of Sabra Healthcare REIT in a research note on Friday, September 9th. BTIG Research began coverage on Sabra Healthcare REIT in a research note on Thursday, August 25th. They issued a “neutral” rating for the company. Citigroup Inc. increased their price target on Sabra Healthcare REIT from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, August 17th. Finally, TheStreet raised Sabra Healthcare REIT from a “hold” rating to a “buy” rating in a research note on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $23.54.

Analyst Recommendations for Sabra Healthcare REIT (NASDAQ:SBRA)

Shares of Sabra Healthcare REIT (NASDAQ:SBRA) traded down 4.10% during midday trading on Wednesday, reaching $23.83. The company had a trading volume of 298,771 shares. Sabra Healthcare REIT has a 12-month low of $14.92 and a 12-month high of $26.40. The stock has a market capitalization of $1.56 billion, a PE ratio of 28.47 and a beta of 1.05. The stock’s 50 day moving average is $24.71 and its 200-day moving average is $22.28.

Sabra Healthcare REIT (NASDAQ:SBRA) last issued its earnings results on Monday, August 1st. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business earned $74.20 million during the quarter, compared to analysts’ expectations of $56.04 million. During the same quarter in the prior year, the firm earned $0.53 EPS. The business’s revenue for the quarter was up 31.1% compared to the same quarter last year. On average, equities research analysts predict that Sabra Healthcare REIT will post $2.28 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of Sabra Healthcare REIT by 939.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,277 shares of the company’s stock valued at $150,000 after buying an additional 6,577 shares during the last quarter. PineBridge Investments L.P. increased its stake in shares of Sabra Healthcare REIT by 3.9% in the second quarter. PineBridge Investments L.P. now owns 8,278 shares of the company’s stock valued at $171,000 after buying an additional 313 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Sabra Healthcare REIT by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,091 shares of the company’s stock valued at $188,000 after buying an additional 1,105 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Sabra Healthcare REIT during the second quarter valued at approximately $207,000. Finally, Creative Planning increased its stake in shares of Sabra Healthcare REIT by 4.0% in the second quarter. Creative Planning now owns 10,400 shares of the company’s stock valued at $215,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

About Sabra Healthcare REIT

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.

5 Day Chart for NASDAQ:SBRA

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