Sabra Healthcare REIT Inc. (SBRA) Stock Price Up 2.9%
Shares of Sabra Healthcare REIT Inc. (NASDAQ:SBRA) rose 2.9% during mid-day trading on Monday . The stock traded as high as $25.13 and last traded at $25.07, with a volume of 188,451 shares trading hands. The stock had previously closed at $24.37.
SBRA has been the subject of several analyst reports. TheStreet upgraded shares of Sabra Healthcare REIT from a “hold” rating to a “buy” rating in a research report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Sabra Healthcare REIT from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Tuesday, July 5th. Cantor Fitzgerald initiated coverage on shares of Sabra Healthcare REIT in a research report on Thursday, June 23rd. They set a “buy” rating and a $28.00 price target for the company. SunTrust Banks Inc. upgraded shares of Sabra Healthcare REIT from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Wednesday, June 1st. Finally, Canaccord Genuity restated a “hold” rating on shares of Sabra Healthcare REIT in a research report on Monday, May 2nd. Two analysts have rated the stock with a sell rating, nine have given 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 a consensus target price of $23.18.
The firm has a 50 day moving average price of $23.31 and a 200-day moving average price of $20.93. The stock has a market capitalization of $1.63 billion and a P/E ratio of 29.88.
Sabra Healthcare REIT (NASDAQ:SBRA) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The company earned $74.20 million during the quarter, compared to the consensus estimate of $56.04 million. The business’s revenue was up 31.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Equities research analysts predict that Sabra Healthcare REIT Inc. will post $2.28 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Monday, August 15th will be issued a $0.42 dividend. The ex-dividend date is Thursday, August 11th. This represents a $1.68 dividend on an annualized basis and a yield of 6.89%.
In other Sabra Healthcare REIT news, Director Milton J. Walters sold 2,000 shares of Sabra Healthcare REIT stock in a transaction on Monday, June 6th. The shares were sold at an average price of $22.04, for a total value of $44,080.00. Following the sale, the director now directly owns 24,055 shares in the company, valued at approximately $530,172.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Several hedge funds have bought and sold shares of SBRA. Principal Financial Group Inc. increased its stake in Sabra Healthcare REIT by 7.2% in the fourth quarter. Principal Financial Group Inc. now owns 764,777 shares of the company’s stock worth $15,472,000 after buying an additional 51,544 shares during the period. Employees Retirement System of Texas increased its stake in Sabra Healthcare REIT by 94.3% in the fourth quarter. Employees Retirement System of Texas now owns 260,000 shares of the company’s stock worth $5,260,000 after buying an additional 126,157 shares during the period. Finally, Morgan Stanley increased its stake in Sabra Healthcare REIT by 0.9% in the fourth quarter. Morgan Stanley now owns 55,899 shares of the company’s stock worth $1,131,000 after buying an additional 495 shares during the period.
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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