Sabra Health Care REIT (SBRA) Cut to Underperform at Bank of America

Bank of America downgraded shares of Sabra Health Care REIT (NASDAQ:SBRA) from a neutral rating to an underperform rating in a report released on Friday, MarketBeat Ratings reports. The brokerage currently has $21.00 price target on the real estate investment trust’s stock, down from their previous price target of $23.00.

Several other brokerages have also recently commented on SBRA. Mizuho cut Sabra Health Care REIT from a buy rating to a neutral rating and set a $21.00 target price on the stock. in a report on Tuesday, November 13th. Zacks Investment Research upgraded Sabra Health Care REIT from a sell rating to a hold rating in a report on Wednesday, October 31st. BidaskClub cut Sabra Health Care REIT from a buy rating to a hold rating in a report on Wednesday, September 26th. BMO Capital Markets began coverage on Sabra Health Care REIT in a report on Tuesday, September 18th. They set a market perform rating and a $24.00 price target on the stock. Finally, ValuEngine cut Sabra Health Care REIT from a hold rating to a sell rating in a report on Wednesday, October 3rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Sabra Health Care REIT currently has a consensus rating of Hold and a consensus target price of $22.36.

Shares of SBRA stock opened at $18.65 on Friday. Sabra Health Care REIT has a one year low of $15.77 and a one year high of $23.83. The company has a market capitalization of $3.33 billion, a P/E ratio of 7.67, a P/E/G ratio of 2.37 and a beta of 0.56. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 1.00.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its earnings results on Monday, November 5th. The real estate investment trust reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.42). Sabra Health Care REIT had a net margin of 61.85% and a return on equity of 11.80%. The company had revenue of $151.80 million during the quarter, compared to the consensus estimate of $162.64 million. As a group, sell-side analysts anticipate that Sabra Health Care REIT will post 2.3 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.65%. The ex-dividend date of this dividend is Wednesday, November 14th. Sabra Health Care REIT’s dividend payout ratio is currently 74.07%.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Qube Research & Technologies Ltd purchased a new stake in Sabra Health Care REIT in the 2nd quarter valued at $115,000. US Bancorp DE raised its position in Sabra Health Care REIT by 91.5% in the 2nd quarter. US Bancorp DE now owns 5,699 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 2,723 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in Sabra Health Care REIT in the 2nd quarter valued at $125,000. NEXT Financial Group Inc purchased a new stake in Sabra Health Care REIT in the 3rd quarter valued at $132,000. Finally, Winslow Evans & Crocker Inc. purchased a new stake in Sabra Health Care REIT in the 3rd quarter valued at $162,000. Institutional investors own 89.16% of the company’s stock.

About Sabra Health Care REIT

As of June 30, 2018, Sabra's investment portfolio included 487 real estate properties held for investment (consisting of (i) 352 Skilled Nursing/Transitional Care facilities, (ii) 89 Senior Housing communities (?Senior Housing – Leased?), (iii) 24 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 asset held for sale, 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, (iv) one pre-development loan and (v) 17 other loans), 13 preferred equity investments and one investment in an unconsolidated joint venture that owns 172 Senior Housing – Managed communities.

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

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