Sabra Health Care REIT (SBRA) Upgraded at Zacks Investment Research

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

Other analysts also recently issued reports about the company. BidaskClub upgraded Sabra Health Care REIT from a sell rating to a hold rating in a research report on Saturday, March 30th. BMO Capital Markets downgraded Sabra Health Care REIT from a market perform rating to an underperform rating in a research report on Tuesday, February 26th. Finally, ValuEngine upgraded Sabra Health Care REIT from a sell rating to a hold rating in a research report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $21.33.

Shares of SBRA opened at $19.71 on Thursday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.06. Sabra Health Care REIT has a 1 year low of $15.70 and a 1 year high of $23.83. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 8.61, a P/E/G ratio of 10.83 and a beta of 1.00.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.94). Sabra Health Care REIT had a net margin of 23.38% and a return on equity of 4.25%. The company had revenue of $136.77 million for the quarter, compared to analysts’ expectations of $144.87 million. Analysts forecast that Sabra Health Care REIT will post 1.91 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, May 17th. This represents a $1.80 annualized dividend and a dividend yield of 9.13%. Sabra Health Care REIT’s dividend payout ratio (DPR) is 78.60%.

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

About Sabra Health Care REIT

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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