Zacks Investment Research upgraded shares of Sabra Healthcare REIT, Inc. (NASDAQ:SBRA) from a sell rating to a hold rating in a research note released on Wednesday, August 9th.
According to Zacks, “Sabra Health Care REIT, Inc. is a real estate investment trust that owns and invests in real estate serving the healthcare industry. The trust owns nursing homes, rehabilitation centers, assisted living facilities, and independent living centers. It leases properties to tenants and operators throughout the United States. Sabra Health Care REIT, Inc. is based in Irvine, California. “
Several other analysts also recently commented on the company. Stifel Nicolaus reissued a hold rating and issued a $26.00 price objective on shares of Sabra Healthcare REIT in a research note on Friday, July 28th. BidaskClub raised Sabra Healthcare REIT from a sell rating to a hold rating in a research note on Wednesday, July 19th. Mizuho downgraded Sabra Healthcare REIT from a neutral rating to an underperform rating and decreased their price target for the company from $25.00 to $23.00 in a research report on Monday, July 10th. Jefferies Group LLC reaffirmed a hold rating and set a $25.00 price target (down from $28.00) on shares of Sabra Healthcare REIT in a research report on Sunday, July 9th. Finally, Canaccord Genuity reissued a hold rating and set a $26.00 price objective on shares of Sabra Healthcare REIT in a report on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Sabra Healthcare REIT has a consensus rating of Hold and a consensus target price of $27.00.
Sabra Healthcare REIT (SBRA) traded down 2.22% during midday trading on Wednesday, hitting $20.71. The stock had a trading volume of 2,806,992 shares. Sabra Healthcare REIT has a 52 week low of $19.30 and a 52 week high of $29.10.
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The company also recently declared a dividend, which was paid on Friday, August 18th. Shareholders of record on Wednesday, August 16th were given a dividend of $0.3599 per share. The ex-dividend date was Monday, August 14th. Sabra Healthcare REIT’s payout ratio is 145.76%.
A number of large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in Sabra Healthcare REIT during the fourth quarter worth $120,000. AQR Capital Management LLC increased its stake in Sabra Healthcare REIT by 0.4% in the fourth quarter. AQR Capital Management LLC now owns 42,382 shares of the real estate investment trust’s stock worth $1,035,000 after buying an additional 171 shares during the last quarter. Norges Bank bought a new position in Sabra Healthcare REIT during the fourth quarter valued at approximately $18,208,000. Teachers Advisors LLC increased its position in Sabra Healthcare REIT by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 738,716 shares of the real estate investment trust’s stock valued at $18,039,000 after buying an additional 37,156 shares in the last quarter. Finally, Creative Planning increased its position in Sabra Healthcare REIT by 6.3% in the first quarter. Creative Planning now owns 14,248 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 848 shares in the last quarter. Institutional investors and hedge funds own 99.26% of the company’s stock.
About Sabra Healthcare REIT
Sabra Health Care REIT, Inc is a real estate investment trust. The Company, through its subsidiaries, owns and invests in real estate serving the healthcare industry. The Company’s segment includes investments in healthcare-related real estate properties. The Company’s 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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