Sabra Health Care REIT (NASDAQ:SBRA) Hits New 12-Month High at $14.91

Sabra Health Care REIT, Inc. (NASDAQ:SBRA)’s share price reached a new 52-week high on Thursday . The stock traded as high as $14.91 and last traded at $14.87, with a volume of 210347 shares changing hands. The stock had previously closed at $14.58.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SBRA shares. Deutsche Bank Aktiengesellschaft started coverage on Sabra Health Care REIT in a report on Tuesday, January 30th. They issued a “buy” rating and a $21.00 target price on the stock. Mizuho increased their price objective on Sabra Health Care REIT from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Finally, Wedbush restated an “outperform” rating and issued a $17.00 price target on shares of Sabra Health Care REIT in a report on Thursday, February 29th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Sabra Health Care REIT presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.35.

Sabra Health Care REIT Stock Up 1.3 %

The business has a fifty day moving average of $13.80 and a 200 day moving average of $13.99. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 294.80, a P/E/G ratio of 5.13 and a beta of 1.16. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.41 and a quick ratio of 3.41.

Sabra Health Care REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $1.20 dividend on an annualized basis and a yield of 8.12%. Sabra Health Care REIT’s dividend payout ratio is currently 2,400.00%.

Hedge Funds Weigh In On Sabra Health Care REIT

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Sabra Health Care REIT by 2.4% in the first quarter. Vanguard Group Inc. now owns 36,317,289 shares of the real estate investment trust’s stock valued at $540,765,000 after purchasing an additional 859,548 shares during the period. BlackRock Inc. boosted its stake in Sabra Health Care REIT by 1.5% in the second quarter. BlackRock Inc. now owns 33,148,725 shares of the real estate investment trust’s stock worth $390,160,000 after purchasing an additional 486,114 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Sabra Health Care REIT by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 21,487,279 shares of the real estate investment trust’s stock worth $306,623,000 after acquiring an additional 484,086 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Sabra Health Care REIT by 709.0% during the third quarter. JPMorgan Chase & Co. now owns 13,504,420 shares of the real estate investment trust’s stock worth $188,252,000 after acquiring an additional 11,835,109 shares during the last quarter. Finally, State Street Corp increased its holdings in Sabra Health Care REIT by 0.7% in the third quarter. State Street Corp now owns 12,205,889 shares of the real estate investment trust’s stock valued at $160,141,000 after purchasing an additional 81,240 shares during the last quarter. Institutional investors and hedge funds own 99.40% of the company’s stock.

Sabra Health Care REIT Company Profile

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.