Sabra Health Care REIT (NASDAQ:SBRA) Rating Increased to Outperform at JMP Securities

Sabra Health Care REIT (NASDAQ:SBRA) was upgraded by stock analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a report released on Tuesday,Briefing.com Automated Import reports. The brokerage currently has a $20.00 target price on the real estate investment trust’s stock. JMP Securities’ price objective points to a potential upside of 20.26% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company upgraded shares of Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $16.00 to $20.00 in a research note on Tuesday, October 1st. Mizuho reiterated a “neutral” rating and issued a $20.00 price target on shares of Sabra Health Care REIT in a research report on Thursday, December 5th. Citigroup raised shares of Sabra Health Care REIT from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $17.00 to $20.00 in a research report on Friday, September 13th. Finally, Scotiabank upped their price objective on Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.25.

Sabra Health Care REIT Price Performance

Shares of SBRA opened at $16.63 on Tuesday. The firm has a fifty day simple moving average of $18.10 and a two-hundred day simple moving average of $17.42. The firm has a market cap of $3.93 billion, a PE ratio of 40.56, a P/E/G ratio of 2.20 and a beta of 1.26. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.90. Sabra Health Care REIT has a 1-year low of $12.83 and a 1-year high of $20.03.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.22). Sabra Health Care REIT had a return on equity of 3.51% and a net margin of 14.20%. The firm had revenue of $178.00 million during the quarter, compared to the consensus estimate of $177.19 million. During the same period in the previous year, the firm earned $0.34 EPS. On average, equities analysts anticipate that Sabra Health Care REIT will post 1.39 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Sabra Health Care REIT by 222.4% in the third quarter. JPMorgan Chase & Co. now owns 9,886,917 shares of the real estate investment trust’s stock valued at $183,996,000 after acquiring an additional 6,819,919 shares in the last quarter. Franklin Resources Inc. raised its stake in Sabra Health Care REIT by 12.3% during the 3rd quarter. Franklin Resources Inc. now owns 524,917 shares of the real estate investment trust’s stock valued at $9,543,000 after purchasing an additional 57,551 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Sabra Health Care REIT in the 3rd quarter worth approximately $59,000. Geode Capital Management LLC boosted its stake in Sabra Health Care REIT by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,294,798 shares of the real estate investment trust’s stock worth $117,165,000 after purchasing an additional 104,533 shares during the period. Finally, Vestcor Inc grew its holdings in Sabra Health Care REIT by 62.5% during the 3rd quarter. Vestcor Inc now owns 207,918 shares of the real estate investment trust’s stock valued at $3,869,000 after buying an additional 79,956 shares in the last quarter. Institutional investors own 99.40% of the company’s stock.

About Sabra Health Care REIT

As of September 30, 2023, Sabra's investment portfolio included 377 real estate properties held for investment (consisting of (i) 240 Skilled Nursing/Transitional Care facilities, (ii) 43 senior housing communities (Senior Housing – Leased), (iii) 61 senior housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing – Managed), (iv) 18 Behavioral Health facilities and (v) 15 Specialty Hospitals and Other facilities), 12 investments in loans receivable (consisting of two mortgage loans and 10 other loans), five preferred equity investments and two investments in unconsolidated joint ventures.