Sabra Healthcare REIT (NASDAQ:SBRA) Stock Gets Price Target Reduction from Wells Fargo & Company

Sabra Healthcare REIT (NASDAQ:SBRA) had its price target reduced by investment analysts at Wells Fargo & Company from $23.00 to $21.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price points to a potential upside of 9.80% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Raymond James Financial upgraded shares of Sabra Healthcare REIT from an “underperform” rating to a “market perform” rating in a report on Thursday, August 6th. Truist Financial upped their price target on Sabra Healthcare REIT from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Mizuho set a $21.00 price target on Sabra Healthcare REIT in a report on Monday, August 31st. Citigroup reissued a “market outperform” rating on shares of Sabra Healthcare REIT in a research report on Wednesday, July 22nd. Finally, Huntington began coverage on Sabra Healthcare REIT in a research report on Thursday, September 10th. They issued an “outperform” rating and a $23.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.50.

Sabra Healthcare REIT Trading Down 1.1%

Sabra Healthcare REIT stock traded down $0.21 during trading on Monday, reaching $19.13. 1,307,158 shares of the company were exchanged, compared to its average volume of 2,674,123. Sabra Healthcare REIT has a 52-week low of $17.17 and a 52-week high of $22.77. The company has a market capitalization of $4.89 billion, a P/E ratio of 73.56, a PEG ratio of 1.47 and a beta of 0.63. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.07 and a quick ratio of 3.07. The stock’s 50 day simple moving average is $20.06 and its two-hundred day simple moving average is $20.07.

Sabra Healthcare REIT (NASDAQ:SBRA) last issued its earnings results on Monday, August 3rd. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.27). The company had revenue of $230.11 million during the quarter, compared to analysts’ expectations of $219.39 million. Sabra Healthcare REIT had a net margin of 7.61% and a return on equity of 2.34%. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 earnings per share. On average, equities research analysts expect that Sabra Healthcare REIT will post 1.52 earnings per share for the current fiscal year.

Insider Activity at Sabra Healthcare REIT

In related news, CEO Richard Matros sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $20.83, for a total value of $4,166,000.00. Following the sale, the chief executive officer owned 1,657,686 shares of the company’s stock, valued at $34,529,599.38. This trade represents a 10.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.09% of the company’s stock.

Hedge Funds Weigh In On Sabra Healthcare REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in Sabra Healthcare REIT by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 25,052,121 shares of the real estate investment trust’s stock worth $481,755,000 after acquiring an additional 98,770 shares in the last quarter. Lasalle Investment Management Securities LLC increased its position in Sabra Healthcare REIT by 8.2% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 3,824,622 shares of the real estate investment trust’s stock valued at $73,547,000 after acquiring an additional 290,405 shares during the period. Dimensional Fund Advisors LP raised its stake in Sabra Healthcare REIT by 7.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,725,337 shares of the real estate investment trust’s stock valued at $71,640,000 after acquiring an additional 269,793 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Sabra Healthcare REIT by 6.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,208,600 shares of the real estate investment trust’s stock valued at $61,701,000 after acquiring an additional 203,226 shares during the last quarter. Finally, Rush Island Management LP acquired a new stake in Sabra Healthcare REIT during the 1st quarter worth approximately $30,735,000. 99.40% of the stock is owned by institutional investors and hedge funds.

About Sabra Healthcare REIT

Sabra Healthcare REIT, Inc is a self-managed real estate investment trust that owns and invests in healthcare-related real estate. The company primarily provides capital to healthcare operators through property ownership, leases, mortgage loans, and other investment structures.

Sabra’s portfolio has historically included skilled nursing facilities, senior housing communities, behavioral health facilities, specialty hospitals, and other healthcare properties. Its properties are generally leased to or operated by third-party healthcare providers, allowing the company to participate in the healthcare real estate market without directly delivering most patient-care services.

Founded in 2010, Sabra Healthcare REIT serves healthcare markets primarily in the United States, with investments that have also included select properties in Canada.