Sabra Health Care REIT (NASDAQ:SBRA) Downgraded to Hold at BidaskClub

BidaskClub downgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, BidAskClub reports.

A number of other equities research analysts also recently issued reports on SBRA. Citigroup downgraded shares of Sabra Health Care REIT from a neutral rating to a sell rating and increased their price target for the stock from $18.00 to $20.00 in a report on Monday, September 23rd. Bank of America began coverage on shares of Sabra Health Care REIT in a report on Monday, October 14th. They issued a neutral rating on the stock. Zacks Investment Research downgraded shares of Sabra Health Care REIT from a hold rating to a sell rating in a report on Thursday, October 24th. Barclays began coverage on shares of Sabra Health Care REIT in a report on Tuesday, September 3rd. They issued an overweight rating and a $24.00 price target on the stock. Finally, JMP Securities increased their price target on shares of Sabra Health Care REIT from $22.00 to $23.00 and gave the stock a market outperform rating in a report on Friday, September 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Sabra Health Care REIT presently has an average rating of Hold and an average price target of $21.43.

SBRA traded up $0.15 during trading on Wednesday, hitting $22.71. 1,858,800 shares of the company traded hands, compared to its average volume of 1,556,544. Sabra Health Care REIT has a one year low of $15.70 and a one year high of $24.95. The firm has a market cap of $4.52 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of -5.95 and a beta of 0.79. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.79. The stock’s fifty day moving average is $23.17 and its 200 day moving average is $21.08.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.34). Sabra Health Care REIT had a return on equity of 0.31% and a net margin of 1.53%. The firm had revenue of $149.83 million during the quarter, compared to analysts’ expectations of $153.39 million. On average, equities research analysts forecast that Sabra Health Care REIT will post 1.87 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.93%. The ex-dividend date is Thursday, November 14th. Sabra Health Care REIT’s dividend payout ratio is currently 78.60%.

In related news, Director Michael J. Foster sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $20.78, for a total value of $311,700.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Raymond J. Lewis sold 58,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $21.47, for a total transaction of $1,245,260.00. The disclosure for this sale can be found here. Insiders sold 186,000 shares of company stock worth $4,274,610 over the last ninety days. 1.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SBRA. Vanguard Group Inc. grew its position in Sabra Health Care REIT by 1.6% during the second quarter. Vanguard Group Inc. now owns 27,935,700 shares of the real estate investment trust’s stock valued at $550,054,000 after acquiring an additional 440,936 shares during the last quarter. Cohen & Steers Inc. grew its position in Sabra Health Care REIT by 5.1% during the second quarter. Cohen & Steers Inc. now owns 25,651,703 shares of the real estate investment trust’s stock valued at $505,082,000 after acquiring an additional 1,244,000 shares during the last quarter. LSV Asset Management grew its position in Sabra Health Care REIT by 1.8% during the second quarter. LSV Asset Management now owns 3,937,501 shares of the real estate investment trust’s stock valued at $77,529,000 after acquiring an additional 69,021 shares during the last quarter. Centersquare Investment Management LLC grew its position in Sabra Health Care REIT by 17.3% during the second quarter. Centersquare Investment Management LLC now owns 3,774,944 shares of the real estate investment trust’s stock valued at $74,329,000 after acquiring an additional 555,793 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Sabra Health Care REIT by 11.5% during the second quarter. Bank of New York Mellon Corp now owns 3,478,801 shares of the real estate investment trust’s stock valued at $68,498,000 after acquiring an additional 358,924 shares during the last quarter. 89.75% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: Understanding Specialty Certificates of Deposit

Analyst Recommendations for Sabra Health Care REIT (NASDAQ:SBRA)

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