Fintel reports that on September 20, 2023, Jefferies upgraded their outlook for Sabra Healthcare REIT (NASDAQ:SBRA) from Hold to Buy.

Analyst Price Forecast Suggests 0.84% Upside

As of August 31, 2023, the average one-year price target for Sabra Healthcare REIT is 13.47. The forecasts range from a low of 11.11 to a high of $15.75. The average price target represents an increase of 0.84% from its latest reported closing price of 13.36.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Sabra Healthcare REIT is 626MM, an increase of 15.67%. The projected annual non-GAAP EPS is 0.59.

Sabra Healthcare REIT Declares $0.30 Dividend

On August 7, 2023 the company declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Shareholders of record as of August 17, 2023 received the payment on August 31, 2023. Previously, the company paid $0.30 per share.

At the current share price of $13.36 / share, the stock’s dividend yield is 8.98%.

Looking back five years and taking a sample every week, the average dividend yield has been 9.06%, the lowest has been 6.43%, and the highest has been 24.16%. The standard deviation of yields is 2.15 (n=236).

The current dividend yield is 0.04 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is -2.25. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

What is the Fund Sentiment?

There are 650 funds or institutions reporting positions in Sabra Healthcare REIT. This is a decrease of 29 owner(s) or 4.27% in the last quarter. Average portfolio weight of all funds dedicated to SBRA is 0.17%, a decrease of 0.09%. Total shares owned by institutions decreased in the last three months by 5.53% to 223,542K shares. The put/call ratio of SBRA is 0.79, indicating a bullish outlook.

What are Other Shareholders Doing?

Principal Financial Group holds 20,690K shares representing 8.95% ownership of the company. In it’s prior filing, the firm reported owning 15,649K shares, representing an increase of 24.37%. The firm increased its portfolio allocation in SBRA by 25.34% over the last quarter.

VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 10,151K shares representing 4.39% ownership of the company. In it’s prior filing, the firm reported owning 10,301K shares, representing a decrease of 1.48%. The firm decreased its portfolio allocation in SBRA by 7.79% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 7,251K shares representing 3.14% ownership of the company. In it’s prior filing, the firm reported owning 7,103K shares, representing an increase of 2.05%. The firm decreased its portfolio allocation in SBRA by 3.60% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 7,013K shares representing 3.03% ownership of the company. In it’s prior filing, the firm reported owning 7,126K shares, representing a decrease of 1.60%. The firm decreased its portfolio allocation in SBRA by 3.51% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 5,969K shares representing 2.58% ownership of the company. In it’s prior filing, the firm reported owning 6,052K shares, representing a decrease of 1.39%. The firm decreased its portfolio allocation in SBRA by 3.96% over the last quarter.

Sabra Healthcare REIT Background Information
(This description is provided by the company.)

Sabra Health Care REIT, Inc., a Maryland corporation, operates as a self-administered, self-managed real estate investment trust (a ‘REIT’) that, through its subsidiaries, owns and invests in real estate serving the healthcare industry throughout the United States and Canada.

This article originally appeared on Fintel

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