Sabra Health Care REIT (NASDAQ:SBRA – Get Rating) had its price target upped by Citigroup to $15.50 in a research note issued to investors on Monday, Stock Target Advisor reports.
A number of other brokerages have also weighed in on SBRA. Capital One Financial assumed coverage on Sabra Health Care REIT in a research note on Friday, June 3rd. They set an equal weight rating and a $15.50 target price on the stock. Mizuho raised shares of Sabra Health Care REIT from a neutral rating to a buy rating and reduced their target price for the company from $16.00 to $15.00 in a research report on Wednesday, May 25th. Barclays raised their price target on shares of Sabra Health Care REIT to $15.00 in a research report on Tuesday, August 9th. Finally, Jefferies Financial Group downgraded shares of Sabra Health Care REIT from a buy rating to a hold rating and cut their price objective for the company from $15.00 to $14.00 in a report on Thursday, June 30th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sabra Health Care REIT currently has a consensus rating of Hold and a consensus price target of $15.91.
Sabra Health Care REIT Stock Down 1.9 %
Sabra Health Care REIT stock opened at $15.70 on Monday. The company’s 50-day moving average price is $14.85 and its two-hundred day moving average price is $13.92. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.75. The stock has a market cap of $3.63 billion, a P/E ratio of 82.64 and a beta of 1.33. Sabra Health Care REIT has a twelve month low of $11.44 and a twelve month high of $16.91.
Sabra Health Care REIT Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 7.64%. The ex-dividend date of this dividend is Tuesday, August 16th. Sabra Health Care REIT’s payout ratio is presently 631.61%.
Hedge Funds Weigh In On Sabra Health Care REIT
Hedge funds and other institutional investors have recently modified their holdings of the business. Deutsche Bank AG grew its holdings in shares of Sabra Health Care REIT by 161.6% during the 2nd quarter. Deutsche Bank AG now owns 5,097,445 shares of the real estate investment trust’s stock valued at $71,210,000 after purchasing an additional 3,148,985 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Sabra Health Care REIT by 3,773.6% during the second quarter. Millennium Management LLC now owns 1,998,167 shares of the real estate investment trust’s stock worth $27,914,000 after buying an additional 1,946,583 shares in the last quarter. State Street Corp lifted its stake in shares of Sabra Health Care REIT by 18.1% in the 1st quarter. State Street Corp now owns 12,035,766 shares of the real estate investment trust’s stock valued at $179,213,000 after acquiring an additional 1,840,939 shares during the last quarter. Waterfront Capital Partners LLC bought a new position in shares of Sabra Health Care REIT in the 1st quarter valued at $22,722,000. Finally, Centersquare Investment Management LLC boosted its holdings in shares of Sabra Health Care REIT by 23.3% during the 4th quarter. Centersquare Investment Management LLC now owns 7,289,224 shares of the real estate investment trust’s stock valued at $98,695,000 after acquiring an additional 1,377,573 shares in the last quarter. Institutional investors own 91.61% of the company’s stock.
Sabra Health Care REIT Company Profile
As of March 31, 2022, Sabra’s investment portfolio included 416 real estate properties held for investment. This consists of (i) 279 Skilled Nursing/Transitional Care facilities, (ii) 59 Senior Housing communities (Senior Housing – Leased), (iii) 50 Senior Housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing – Managed), (iv) 13 Behavioral Health facilities and (v) 15 Specialty Hospitals and Other facilities), one asset held for sale, one investment in a sales-type lease, 16 investments in loans receivable (consisting of (i) two mortgage loans, (ii) one construction loan and (iii) 13 other loans), seven preferred equity investments and one investment in an unconsolidated joint venture.
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