JMP Securities Upgrades Sabra Health Care REIT (NASDAQ:SBRA) to Outperform

Sabra Health Care REIT (NASDAQ:SBRA) was upgraded by equities researchers at JMP Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm presently has a $20.00 price target on the real estate investment trust’s stock. JMP Securities’ price objective indicates a potential upside of 20.26% from the stock’s previous close.

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

Sabra Health Care REIT Trading Down 3.7 %

Shares of SBRA stock opened at $16.63 on Tuesday. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 40.56, a price-to-earnings-growth ratio of 2.20 and a beta of 1.26. Sabra Health Care REIT has a 12-month low of $12.83 and a 12-month high of $20.03. The stock’s 50-day moving average price is $18.10 and its 200-day moving average price is $17.42.

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

Hedge Funds Weigh In On Sabra Health Care REIT

Hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its stake in shares of Sabra Health Care REIT by 4.5% during the third quarter. Rockefeller Capital Management L.P. now owns 15,369 shares of the real estate investment trust’s stock valued at $286,000 after purchasing an additional 655 shares during the period. GAMMA Investing LLC grew its stake in Sabra Health Care REIT by 25.3% in the 3rd quarter. GAMMA Investing LLC now owns 4,614 shares of the real estate investment trust’s stock worth $86,000 after acquiring an additional 932 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Sabra Health Care REIT by 2.5% during the second quarter. Mercer Global Advisors Inc. ADV now owns 48,448 shares of the real estate investment trust’s stock worth $746,000 after acquiring an additional 1,168 shares during the period. Assetmark Inc. raised its stake in shares of Sabra Health Care REIT by 168.4% during the third quarter. Assetmark Inc. now owns 1,962 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 1,231 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Sabra Health Care REIT by 2.0% during the second quarter. Arizona State Retirement System now owns 64,802 shares of the real estate investment trust’s stock valued at $998,000 after acquiring an additional 1,258 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.