Zacks: Brokerages Expect Sabra Health Care REIT Inc (SBRA) Will Post Quarterly Sales of $151.16 Million

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Wall Street brokerages expect that Sabra Health Care REIT Inc (NASDAQ:SBRA) will report sales of $151.16 million for the current quarter, Zacks reports. Four analysts have made estimates for Sabra Health Care REIT’s earnings, with the highest sales estimate coming in at $193.75 million and the lowest estimate coming in at $127.65 million. Sabra Health Care REIT reported sales of $166.31 million in the same quarter last year, which would suggest a negative year over year growth rate of 9.1%. The company is expected to report its next earnings results on Wednesday, August 14th.

On average, analysts expect that Sabra Health Care REIT will report full year sales of $565.18 million for the current year, with estimates ranging from $521.67 million to $594.28 million. For the next financial year, analysts forecast that the company will report sales of $563.44 million, with estimates ranging from $521.54 million to $624.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Sabra Health Care REIT.

Sabra Health Care REIT (NASDAQ:SBRA) last issued its earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.94). The company had revenue of $136.77 million for the quarter, compared to analysts’ expectations of $144.87 million. Sabra Health Care REIT had a net margin of 23.38% and a return on equity of 4.25%.

SBRA has been the subject of a number of recent analyst reports. BidaskClub raised shares of Sabra Health Care REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Zacks Investment Research raised shares of Sabra Health Care REIT from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Thursday, February 21st. BMO Capital Markets lowered shares of Sabra Health Care REIT from a “market perform” rating to an “underperform” rating in a research note on Tuesday, February 26th. Finally, ValuEngine lowered shares of Sabra Health Care REIT from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Two 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 stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.33.

A number of large investors have recently added to or reduced their stakes in SBRA. Centersquare Investment Management LLC lifted its stake in Sabra Health Care REIT by 319,577.4% in the first quarter. Centersquare Investment Management LLC now owns 3,219,151 shares of the real estate investment trust’s stock worth $62,676,000 after acquiring an additional 3,218,144 shares during the period. Principal Financial Group Inc. lifted its stake in Sabra Health Care REIT by 342.1% in the first quarter. Principal Financial Group Inc. now owns 3,490,597 shares of the real estate investment trust’s stock worth $67,962,000 after acquiring an additional 2,701,133 shares during the period. Norges Bank purchased a new stake in Sabra Health Care REIT in the fourth quarter worth about $35,964,000. JPMorgan Chase & Co. lifted its stake in Sabra Health Care REIT by 221.8% in the third quarter. JPMorgan Chase & Co. now owns 1,779,693 shares of the real estate investment trust’s stock worth $41,147,000 after acquiring an additional 1,226,574 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake in Sabra Health Care REIT by 1,548.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,159,764 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 1,089,390 shares during the period. 85.34% of the stock is owned by institutional investors.

Shares of SBRA traded up $0.16 during trading hours on Wednesday, reaching $20.02. 1,364,657 shares of the company traded hands, compared to its average volume of 1,761,337. The firm has a market capitalization of $3.59 billion, a P/E ratio of 8.74, a P/E/G ratio of 10.82 and a beta of 1.00. Sabra Health Care REIT has a 12-month low of $15.70 and a 12-month high of $23.83. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.06.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 8.99%. The ex-dividend date is Friday, May 17th. Sabra Health Care REIT’s dividend payout ratio (DPR) is presently 78.60%.

About Sabra Health Care REIT

As of December 31, 2018, Sabra's investment portfolio included 470 real estate properties held for investment (consisting of (i) 335 Skilled Nursing/Transitional Care facilities, (ii) 90 Senior Housing communities (“Senior Housing – Leased”), (iii) 23 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 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 and (iv) 18 other loans), nine preferred equity investments and one investment in an unconsolidated joint venture that owns 172 Senior Housing – Managed communities.

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Earnings History and Estimates for Sabra Health Care REIT (NASDAQ:SBRA)

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