Sabra Health Care REIT (NASDAQ:SBRA) Updates FY24 Earnings Guidance

Sabra Health Care REIT (NASDAQ:SBRAGet Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.39-1.43 for the period, compared to the consensus EPS estimate of $1.38. Sabra Health Care REIT also updated its FY 2024 guidance to 1.390-1.430 EPS.

Wall Street Analyst Weigh In

Several analysts recently commented on SBRA shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Sabra Health Care REIT in a report on Tuesday, January 30th. They set a buy rating and a $21.00 target price for the company. Mizuho increased their target price on Sabra Health Care REIT from $15.00 to $17.00 and gave the stock a buy rating in a research note on Wednesday, January 3rd. Stifel Nicolaus lifted their target price on Sabra Health Care REIT from $14.00 to $16.00 and gave the stock a buy rating in a report on Tuesday, November 7th. Finally, Wedbush restated an outperform rating and issued a $17.00 price target on shares of Sabra Health Care REIT in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $15.35.

Read Our Latest Stock Analysis on Sabra Health Care REIT

Sabra Health Care REIT Price Performance

Sabra Health Care REIT stock traded down $0.10 during mid-day trading on Thursday, reaching $13.90. The company had a trading volume of 1,461,567 shares, compared to its average volume of 2,109,223. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.82. Sabra Health Care REIT has a fifty-two week low of $10.08 and a fifty-two week high of $14.82. The company has a market cap of $3.21 billion, a P/E ratio of 276.60 and a beta of 1.14. The business has a fifty day simple moving average of $13.80 and a 200 day simple moving average of $13.74.

Sabra Health Care REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 29th. Shareholders of record on Tuesday, February 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 8.63%. The ex-dividend date is Monday, February 12th. Sabra Health Care REIT’s payout ratio is 2,400.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. raised its holdings in Sabra Health Care REIT by 2.3% during the 4th quarter. Alps Advisors Inc. now owns 35,790 shares of the real estate investment trust’s stock worth $445,000 after purchasing an additional 791 shares during the last quarter. Profund Advisors LLC increased its stake in Sabra Health Care REIT by 7.9% in the fourth quarter. Profund Advisors LLC now owns 12,041 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 885 shares in the last quarter. Cetera Investment Advisers increased its stake in Sabra Health Care REIT by 1.2% in the first quarter. Cetera Investment Advisers now owns 80,608 shares of the real estate investment trust’s stock valued at $1,200,000 after purchasing an additional 919 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Sabra Health Care REIT by 4.6% during the 1st quarter. Advisory Services Network LLC now owns 24,886 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 1,086 shares in the last quarter. Finally, Cibc World Markets Corp grew its stake in shares of Sabra Health Care REIT by 1.0% in the 1st quarter. Cibc World Markets Corp now owns 115,470 shares of the real estate investment trust’s stock valued at $1,719,000 after buying an additional 1,152 shares during the period. 86.36% of the stock is owned by institutional investors and hedge funds.

About Sabra Health Care REIT

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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.

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