Zacks Investment Research Upgrades Sabra Health Care REIT (NASDAQ:SBRA) 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. “
Other analysts have also issued research reports about the company. JMP Securities upped their target price on Sabra Health Care REIT from $22.00 to $23.00 and gave the stock a market outperform rating in a research note on Friday, September 27th. ValuEngine downgraded shares of Sabra Health Care REIT from a hold rating to a sell rating in a research note on Monday, November 25th. BidaskClub lowered shares of Sabra Health Care REIT from a buy rating to a hold rating in a report on Wednesday, November 6th. Citigroup lowered shares of Sabra Health Care REIT from a neutral rating to a sell rating and boosted their price objective for the stock from $18.00 to $20.00 in a report on Monday, September 23rd. Finally, Barclays began coverage on shares of Sabra Health Care REIT in a research note on Tuesday, September 3rd. They issued an overweight rating and a $24.00 price objective for the company. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Sabra Health Care REIT has an average rating of Hold and an average price target of $21.60.
Sabra Health Care REIT (NASDAQ:SBRA) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.34). The firm had revenue of $149.83 million for the quarter, compared to the consensus estimate of $153.39 million. Sabra Health Care REIT had a net margin of 1.53% and a return on equity of 0.31%. As a group, research analysts expect that Sabra Health Care REIT will post 1.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.20%. The ex-dividend date of this dividend was Thursday, November 14th. Sabra Health Care REIT’s dividend payout ratio (DPR) is presently 78.60%.
In related news, CEO Richard K. Matros sold 113,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $24.05, for a total transaction of $2,717,650.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SBRA. Tocqueville Asset Management L.P. grew its stake in shares of Sabra Health Care REIT by 9.1% in the second quarter. Tocqueville Asset Management L.P. now owns 17,206 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 1,438 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Sabra Health Care REIT by 82.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 208,626 shares of the real estate investment trust’s stock valued at $4,108,000 after purchasing an additional 94,551 shares during the last quarter. JPMorgan Chase & Co. raised its position in Sabra Health Care REIT by 88.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,854,854 shares of the real estate investment trust’s stock valued at $36,077,000 after purchasing an additional 869,179 shares during the last quarter. Sunbelt Securities Inc. bought a new position in Sabra Health Care REIT during the 3rd quarter valued at approximately $343,000. Finally, Creative Planning lifted its holdings in Sabra Health Care REIT by 1.2% in the 2nd quarter. Creative Planning now owns 42,524 shares of the real estate investment trust’s stock worth $837,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 90.05% 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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