Sabra Health Care REIT (NASDAQ:SBRA) Upgraded by Zacks Investment Research to Hold
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. “
A number of other analysts also recently weighed in on the stock. Barclays started coverage on shares of Sabra Health Care REIT in a research report on Tuesday, September 3rd. They issued an overweight rating and a $24.00 target price on the stock. BidaskClub downgraded shares of Sabra Health Care REIT from a buy rating to a hold rating in a research report on Wednesday, November 6th. Citigroup downgraded shares of Sabra Health Care REIT from a neutral rating to a sell rating and upped their target price for the stock from $18.00 to $20.00 in a research report on Monday, September 23rd. JMP Securities upped their target price on shares of Sabra Health Care REIT from $22.00 to $23.00 and gave the stock a market outperform rating in a research report on Friday, September 27th. Finally, TheStreet cut shares of Sabra Health Care REIT from a b rating to a c+ rating in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $21.60.
Sabra Health Care REIT (NASDAQ:SBRA) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.34). The business had revenue of $149.83 million during the quarter, compared to analysts’ expectations of $153.39 million. Sabra Health Care REIT had a return on equity of 0.31% and a net margin of 1.53%. On average, research analysts predict that Sabra Health Care REIT will post 1.87 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 8.06%. The ex-dividend date of this dividend is Thursday, November 14th. Sabra Health Care REIT’s payout ratio is 78.60%.
In related news, CEO Richard K. Matros sold 113,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $24.05, for a total value of $2,717,650.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Raymond J. Lewis sold 58,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $21.47, for a total transaction of $1,245,260.00. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Trustcore Financial Services LLC boosted its stake in Sabra Health Care REIT by 7.7% in the 3rd quarter. Trustcore Financial Services LLC now owns 5,972 shares of the real estate investment trust’s stock worth $137,000 after purchasing an additional 425 shares in the last quarter. Creative Planning lifted its stake in Sabra Health Care REIT by 1.2% during the 2nd quarter. Creative Planning now owns 42,524 shares of the real estate investment trust’s stock valued at $837,000 after acquiring an additional 500 shares during the period. Eii Capital Management Inc. lifted its stake in Sabra Health Care REIT by 3.0% during the 2nd quarter. Eii Capital Management Inc. now owns 18,347 shares of the real estate investment trust’s stock valued at $361,000 after acquiring an additional 531 shares during the period. 6 Meridian lifted its stake in Sabra Health Care REIT by 2.2% during the 2nd quarter. 6 Meridian now owns 25,921 shares of the real estate investment trust’s stock valued at $510,000 after acquiring an additional 554 shares during the period. Finally, Centaurus Financial Inc. bought a new position in Sabra Health Care REIT during the 1st quarter valued at about $34,000. Institutional investors own 85.14% of the company’s stock.
Sabra Health Care REIT Company Profile
As of December 31, 2018, Sabra's investment portfolio included 470 real estate properties held for investment (consisting of (i) 335 Skilled Nursing/Transitional Care facilities, (ii) 90 Senior Housing communities (Senior Housing – Leased), (iii) 23 Senior Housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing – Managed) and (iv) 22 Specialty Hospitals and Other facilities), one investment in a direct financing lease, 22 investments in loans receivable (consisting of (i) one mortgage loan, (ii) two construction loans, (iii) one mezzanine loan and (iv) 18 other loans), nine preferred equity investments and one investment in an unconsolidated joint venture that owns 172 Senior Housing – Managed communities.
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