Sabra Healthcare REIT (NASDAQ:SBRA) Stock Price Target Lowered at Barclays

Sabra Healthcare REIT (NASDAQ:SBRA) had its price target lowered by equities research analysts at Barclays from $23.00 to $21.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price objective suggests a potential upside of 9.29% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. Weiss Ratings lowered Sabra Healthcare REIT from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Wall Street Zen upgraded Sabra Healthcare REIT from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Citigroup reaffirmed a “market outperform” rating on shares of Sabra Healthcare REIT in a report on Wednesday, July 22nd. Citizens Jmp raised their target price on Sabra Healthcare REIT from $23.00 to $25.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 22nd. Finally, UBS Group reiterated a “neutral” rating and set a $20.00 price target on shares of Sabra Healthcare REIT in a research report on Tuesday. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.69.

Sabra Healthcare REIT Stock Performance

Shares of SBRA stock traded up $0.01 during trading hours on Tuesday, hitting $19.21. The company’s stock had a trading volume of 271,514 shares, compared to its average volume of 2,678,423. The company has a 50 day moving average of $20.19 and a 200 day moving average of $20.08. The stock has a market cap of $4.91 billion, a PE ratio of 73.95, a price-to-earnings-growth ratio of 1.44 and a beta of 0.63. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.95. Sabra Healthcare REIT has a 12-month low of $17.17 and a 12-month high of $22.77.

Sabra Healthcare REIT (NASDAQ:SBRA) last posted its earnings results on Monday, August 3rd. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.27). Sabra Healthcare REIT had a net margin of 7.61% and a return on equity of 2.34%. The business had revenue of $230.11 million for the quarter, compared to analyst estimates of $219.39 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, sell-side analysts forecast that Sabra Healthcare REIT will post 1.52 EPS for the current fiscal year.

Insider Activity

In other news, CEO Richard Matros sold 200,000 shares of Sabra Healthcare REIT stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $20.83, for a total value of $4,166,000.00. Following the sale, the chief executive officer directly owned 1,657,686 shares of the company’s stock, valued at $34,529,599.38. The trade was a 10.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBRA. Sound Income Strategies LLC raised its holdings in shares of Sabra Healthcare REIT by 8.3% during the 3rd quarter. Sound Income Strategies LLC now owns 1,051,751 shares of the real estate investment trust’s stock worth $19,815,000 after acquiring an additional 80,453 shares during the period. GAMMA Investing LLC boosted its position in shares of Sabra Healthcare REIT by 7.9% during the 3rd quarter. GAMMA Investing LLC now owns 9,927 shares of the real estate investment trust’s stock valued at $196,000 after acquiring an additional 724 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Sabra Healthcare REIT by 1.6% in the second quarter. QRG Capital Management Inc. now owns 53,195 shares of the real estate investment trust’s stock valued at $1,038,000 after purchasing an additional 857 shares during the period. Anchor Investment Management LLC grew its holdings in shares of Sabra Healthcare REIT by 17.8% in the second quarter. Anchor Investment Management LLC now owns 4,877 shares of the real estate investment trust’s stock valued at $95,000 after purchasing an additional 737 shares during the period. Finally, Core Capital Management & Research inc. purchased a new stake in shares of Sabra Healthcare REIT in the second quarter valued at about $204,000. Hedge funds and other institutional investors own 99.40% of the company’s stock.

Sabra Healthcare REIT Company Profile

Sabra Healthcare REIT, Inc is a self-managed real estate investment trust that owns and invests in healthcare-related real estate. The company primarily provides capital to healthcare operators through property ownership, leases, mortgage loans, and other investment structures.

Sabra’s portfolio has historically included skilled nursing facilities, senior housing communities, behavioral health facilities, specialty hospitals, and other healthcare properties. Its properties are generally leased to or operated by third-party healthcare providers, allowing the company to participate in the healthcare real estate market without directly delivering most patient-care services.

Founded in 2010, Sabra Healthcare REIT serves healthcare markets primarily in the United States, with investments that have also included select properties in Canada.