Zacks Investment Research Upgrades Sabra Health Care REIT (SBRA) to Hold

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Zacks Investment Research upgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from a sell rating to a hold rating in a research note released on Thursday, Zacks.com reports.

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. “

A number of other equities research analysts have also issued reports on SBRA. BidaskClub raised Sabra Health Care REIT from a sell rating to a hold rating in a research note on Tuesday, January 29th. BMO Capital Markets lowered Sabra Health Care REIT from a market perform rating to an underperform rating in a research note on Tuesday, February 26th. Finally, ValuEngine lowered Sabra Health Care REIT from a hold rating to a sell rating in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Sabra Health Care REIT has a consensus rating of Hold and a consensus target price of $21.33.

Shares of SBRA stock traded down $0.59 on Thursday, reaching $19.61. 82,265 shares of the company’s stock were exchanged, compared to its average volume of 1,235,550. Sabra Health Care REIT has a 52 week low of $15.70 and a 52 week high of $23.83. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $3.63 billion, a P/E ratio of 8.59, a P/E/G ratio of 11.00 and a beta of 1.00.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.94). Sabra Health Care REIT had a return on equity of 4.25% and a net margin of 23.38%. The business had revenue of $136.77 million for the quarter, compared to the consensus estimate of $144.87 million. As a group, sell-side analysts forecast that Sabra Health Care REIT will post 1.91 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 9.18%. The ex-dividend date of this dividend is Friday, May 17th. Sabra Health Care REIT’s dividend payout ratio is 78.60%.

Several hedge funds have recently modified their holdings of SBRA. Centersquare Investment Management LLC lifted its holdings in shares of Sabra Health Care REIT by 319,577.4% in the 1st quarter. Centersquare Investment Management LLC now owns 3,219,151 shares of the real estate investment trust’s stock worth $62,676,000 after buying an additional 3,218,144 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Sabra Health Care REIT by 342.1% in the 1st quarter. Principal Financial Group Inc. now owns 3,490,597 shares of the real estate investment trust’s stock worth $67,962,000 after buying an additional 2,701,133 shares during the period. Norges Bank purchased a new stake in shares of Sabra Health Care REIT in the 4th quarter worth $35,964,000. JPMorgan Chase & Co. lifted its holdings in shares of Sabra Health Care REIT by 221.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,779,693 shares of the real estate investment trust’s stock worth $41,147,000 after buying an additional 1,226,574 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Sabra Health Care REIT by 1,548.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,159,764 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 1,089,390 shares during the period. Institutional investors and hedge funds own 85.34% 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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