Sabra Health Care REIT, Inc. Declares Quarterly Dividend of $0.30 (NASDAQ:SBRA)

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Monday, May 20th will be paid a dividend of 0.30 per share by the real estate investment trust on Friday, May 31st. This represents a $1.20 dividend on an annualized basis and a yield of 8.28%. The ex-dividend date is Friday, May 17th.

Sabra Health Care REIT has decreased its dividend payment by an average of 3.9% per year over the last three years and has raised its dividend every year for the last 2 years. Sabra Health Care REIT has a payout ratio of 187.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Sabra Health Care REIT to earn $1.44 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 83.3%.

Sabra Health Care REIT Stock Performance

Shares of Sabra Health Care REIT stock traded up $0.01 during trading on Friday, hitting $14.50. 96,978 shares of the stock were exchanged, compared to its average volume of 2,017,847. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.41 and a current ratio of 3.41. Sabra Health Care REIT has a 12 month low of $10.30 and a 12 month high of $14.92. The stock’s fifty day moving average is $14.15 and its 200 day moving average is $14.04. The stock has a market cap of $3.36 billion, a PE ratio of 289.80, a P/E/G ratio of 5.15 and a beta of 1.17.

Wall Street Analysts Forecast Growth

SBRA has been the topic of several analyst reports. Wedbush restated an “outperform” rating and issued a $17.00 target price on shares of Sabra Health Care REIT in a research report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft started coverage on Sabra Health Care REIT in a research note on Tuesday, January 30th. They set a “buy” rating and a $21.00 target price for the company. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.77.

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.