Sabra Healthcare REIT Inc. (SBRA) Stock Price Down 2.8%
Sabra Healthcare REIT Inc. (NASDAQ:SBRA) shares traded down 2.8% during mid-day trading on Friday . The stock traded as low as $24.73 and last traded at $24.74, with a volume of 137,935 shares traded. The stock had previously closed at $25.46.
Several research analysts recently issued reports on the stock. BTIG Research assumed coverage on shares of Sabra Healthcare REIT in a research note on Thursday. They issued a “neutral” rating for the company. TheStreet upgraded shares of Sabra Healthcare REIT from a “hold” rating to a “buy” rating in a research note on Tuesday, August 2nd. Cantor Fitzgerald reiterated a “buy” rating on shares of Sabra Healthcare REIT in a research note on Friday, August 19th. Citigroup Inc. raised their price objective on shares of Sabra Healthcare REIT from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, August 17th. Finally, Bank of America Corp. lowered shares of Sabra Healthcare REIT from a “neutral” rating to an “underperform” rating in a research note on Monday, July 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $23.18.
The stock has a 50-day moving average price of $23.86 and a 200-day moving average price of $21.20. The firm has a market cap of $1.62 billion and a P/E ratio of 29.68.
Sabra Healthcare REIT (NASDAQ:SBRA) last released its quarterly earnings data on Monday, August 1st. The company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. The business earned $74.20 million during the quarter, compared to analysts’ expectations of $56.04 million. During the same period last year, the company earned $0.53 earnings per share. The firm’s revenue was up 31.1% compared to the same quarter last year. On average, analysts expect that Sabra Healthcare REIT Inc. will post $2.29 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Monday, August 15th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date is Thursday, August 11th.
In related news, Director Milton J. Walters sold 2,000 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $22.04, for a total value of $44,080.00. Following the completion of the sale, the director now directly owns 24,055 shares of the company’s stock, valued at $530,172.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
A hedge fund recently raised its stake in Sabra Healthcare REIT stock. Principal Financial Group Inc. raised its position in Sabra Healthcare REIT Inc. (NASDAQ:SBRA) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 764,777 shares of the company’s stock after buying an additional 51,544 shares during the period. Principal Financial Group Inc. owned approximately 1.17% of Sabra Healthcare REIT worth $15,472,000 as of its most recent SEC filing.
Sabra Health Care REIT, Inc is a real estate investment trust. The Company owns and invests in real estate serving the healthcare industry. The Company’s segment is investments in healthcare-related real estate properties. Its primary business consists of acquiring, financing and owning real estate property to be leased to third-party tenants in the healthcare sector.
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