Sabra Health Care REIT (NASDAQ:SBRA) Posts Quarterly Earnings Results, Misses Expectations By $0.22 EPS

Sabra Health Care REIT (NASDAQ:SBRA) posted its quarterly earnings results on Thursday. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.22), Zacks reports. The business had revenue of $178.00 million during the quarter, compared to analyst estimates of $177.19 million. Sabra Health Care REIT had a return on equity of 3.50% and a net margin of 14.20%. During the same period last year, the company earned $0.34 EPS. Sabra Health Care REIT updated its FY 2024 guidance to 1.390-1.400 EPS.

Sabra Health Care REIT Trading Down 3.9 %

SBRA traded down $0.76 during mid-day trading on Friday, reaching $18.64. The stock had a trading volume of 8,134,848 shares, compared to its average volume of 1,540,569. The stock has a market capitalization of $4.37 billion, a P/E ratio of 45.46, a P/E/G ratio of 2.77 and a beta of 1.25. Sabra Health Care REIT has a 52 week low of $12.83 and a 52 week high of $19.78. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.27 and a current ratio of 4.27. The firm’s fifty day simple moving average is $18.21 and its two-hundred day simple moving average is $16.19.

Sabra Health Care REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.44%. The ex-dividend date of this dividend is Friday, November 15th. Sabra Health Care REIT’s dividend payout ratio is 292.69%.

Analysts Set New Price Targets

SBRA has been the subject of several analyst reports. Wells Fargo & Company upgraded Sabra Health Care REIT from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $16.00 to $20.00 in a research report on Tuesday, October 1st. Citigroup raised Sabra Health Care REIT from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $17.00 to $20.00 in a report on Friday, September 13th. Truist Financial upped their target price on shares of Sabra Health Care REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Scotiabank increased their target price on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.38.

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.