Sabra Health Care REIT
Market Cap
US$2.8b
Last Updated
2020/10/01 00:10 UTC
Data Sources
Company Financials +
Executive Summary
As of June 30, 2020, Sabra’s investment portfolio included 427 real estate properties held for investment (consisting of (i) 290 Skilled Nursing/Transitional Care facilities, (ii) 65 Senior Housing communities (“Senior Housing - Leased”), (iii) 47 Senior Housing communities operated by third-party property managers pursuant to property management agreements (“Senior Housing - Managed”) and (iv) 25 Specialty Hospitals and Other facilities), one investment in a direct financing lease, 19 investments in loans receivable (consisting of (i) one mortgage loan, (ii) one construction loan and (iii) 17 other loans), five preferred equity investments and one investment in an unconsolidated joint venture that owns 159 Senior Housing - Managed communities. More Details
Rewards
Risk Analysis
Snowflake Analysis
Good value with proven track record and pays a dividend.
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Share Price & News
How has Sabra Health Care REIT's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SBRA has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-0.1%
SBRA
3.6%
US REITs
3.9%
US Market
1 Year Return
-39.2%
SBRA
-14.6%
US REITs
18.5%
US Market
Return vs Industry: SBRA underperformed the US REITs industry which returned -14.5% over the past year.
Return vs Market: SBRA underperformed the US Market which returned 17.2% over the past year.
Shareholder returns
| SBRA | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.1% | 3.6% | 3.9% |
| 30 Day | -8.5% | -3.4% | -4.3% |
| 90 Day | -3.1% | -1.7% | 8.1% |
| 1 Year | -33.7%-39.2% | -11.2%-14.6% | 21.2%18.5% |
| 3 Year | -16.6%-36.5% | 11.4%-1.6% | 38.2%29.0% |
| 5 Year | -9.6%-41.1% | 40.1%11.9% | 84.3%63.4% |
Price Volatility Vs. Market
How volatile is Sabra Health Care REIT's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 day ago | Simply Wall St
Read This Before Buying Sabra Health Care REIT, Inc. (NASDAQ:SBRA) Shares3 weeks ago | Simply Wall St
Share Price Aside, Sabra Health Care REIT (NASDAQ:SBRA) Has Delivered Shareholders A 7.1% Return.1 month ago | Simply Wall St
What Is The Ownership Structure Like For Sabra Health Care REIT, Inc. (NASDAQ:SBRA)?Valuation
Is Sabra Health Care REIT undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SBRA ($13.79) is trading below our estimate of fair value ($33.09)
Significantly Below Fair Value: SBRA is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SBRA is good value based on its PE Ratio (21.6x) compared to the US REITs industry average (32.6x).
PE vs Market: SBRA is poor value based on its PE Ratio (21.6x) compared to the US market (17.9x).
Price to Earnings Growth Ratio
PEG Ratio: SBRA is poor value based on its PEG Ratio (3.5x)
Price to Book Ratio
PB vs Industry: SBRA is good value based on its PB Ratio (0.8x) compared to the US REITs industry average (1.4x).
Next Steps
Future Growth
How is Sabra Health Care REIT forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
6.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SBRA's forecast earnings growth (6.1% per year) is above the savings rate (2.2%).
Earnings vs Market: SBRA's earnings (6.1% per year) are forecast to grow slower than the US market (22.1% per year).
High Growth Earnings: SBRA's earnings are forecast to grow, but not significantly.
Revenue vs Market: SBRA's revenue (3.1% per year) is forecast to grow slower than the US market (9.9% per year).
High Growth Revenue: SBRA's revenue (3.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if SBRA's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Sabra Health Care REIT performed over the past 5 years?
17.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SBRA has a large one-off loss of $43.4M impacting its June 30 2020 financial results.
Growing Profit Margin: SBRA's current net profit margins (21.2%) are higher than last year (3.8%).
Past Earnings Growth Analysis
Earnings Trend: SBRA's earnings have grown by 17.4% per year over the past 5 years.
Accelerating Growth: SBRA's earnings growth over the past year (490.1%) exceeds its 5-year average (17.4% per year).
Earnings vs Industry: SBRA earnings growth over the past year (490.1%) exceeded the REITs industry 3.3%.
Return on Equity
High ROE: SBRA's Return on Equity (3.8%) is considered low.
Next Steps
Financial Health
How is Sabra Health Care REIT's financial position?
Financial Position Analysis
Short Term Liabilities: SBRA's short term assets ($235.3M) exceed its short term liabilities ($95.1M).
Long Term Liabilities: SBRA's short term assets ($235.3M) do not cover its long term liabilities ($2.6B).
Debt to Equity History and Analysis
Debt Level: SBRA's debt to equity ratio (74.3%) is considered high.
Reducing Debt: SBRA's debt to equity ratio has reduced from 115.8% to 74.3% over the past 5 years.
Debt Coverage: SBRA's debt is not well covered by operating cash flow (14%).
Interest Coverage: SBRA's interest payments on its debt are not well covered by EBIT (2.6x coverage).
Balance Sheet
Next Steps
Dividend
What is Sabra Health Care REIT current dividend yield, its reliability and sustainability?
8.71%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SBRA's dividend (8.71%) is higher than the bottom 25% of dividend payers in the US market (1.72%).
High Dividend: SBRA's dividend (8.71%) is in the top 25% of dividend payers in the US market (4.89%)
Stability and Growth of Payments
Stable Dividend: SBRA has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: SBRA has only been paying a dividend for 9 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (93.2%), SBRA's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SBRA's dividends in 3 years are forecast to be covered by earnings (71.2% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
8.8yrs
Average management tenure
CEO
Rick Matros (66 yo)
10.33yrs
Tenure
US$5,743,968
Compensation
Mr. Richard K. Matros, also known as Rick, has been President and Chief Executive Officer and Director at Baylor Scott & White Medical Center - Sunnyvale since May 2010 and has been its Chairman of the Boa ...
CEO Compensation Analysis
Compensation vs Market: Rick's total compensation ($USD5.74M) is about average for companies of similar size in the US market ($USD5.74M).
Compensation vs Earnings: Rick's compensation has increased by more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 10.33yrs | US$5.74m | 0.66% $ 18.8m | |
| Executive VP | 9.83yrs | US$2.37m | 0.15% $ 4.1m | |
| Executive VP | 9.83yrs | US$2.37m | 0.14% $ 4.1m | |
| Executive Vice President of Asset Management | 7.67yrs | no data | no data | |
| Executive VP & Portfolio Manager | 3.17yrs | no data | no data | |
| Executive Vice President of Finance | no data | no data | no data | |
| Executive Vice President of Investments | 0.50yr | no data | no data |
8.8yrs
Average Tenure
58yo
Average Age
Experienced Management: SBRA's management team is seasoned and experienced (8.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 10.33yrs | US$5.74m | 0.66% $ 18.8m | |
| Lead Independent Director | no data | US$226.99k | 0.030% $ 850.9k | |
| Independent Director | 3.08yrs | US$196.99k | 0.0080% $ 227.3k | |
| Independent Director | 3.08yrs | US$189.99k | 0.089% $ 2.5m | |
| Independent Director | 9.83yrs | US$200.99k | 0.012% $ 329.3k | |
| Independent Director | 3.08yrs | US$194.99k | 0.0093% $ 263.5k | |
| Independent Director | 9.83yrs | US$220.99k | 0.020% $ 562.8k | |
| Independent Director | 1.5yrs | US$213.19k | 0% $ 0 | |
| Independent Director | 9.83yrs | US$223.99k | 0.021% $ 606.4k |
6.5yrs
Average Tenure
63yo
Average Age
Experienced Board: SBRA's board of directors are considered experienced (6.5 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.5%.
Top Shareholders
Company Information
Sabra Health Care REIT, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Sabra Health Care REIT, Inc.
- Ticker: SBRA
- Exchange: NasdaqGS
- Founded: 2010
- Industry: Health Care REITs
- Sector: Real Estate
- Market Cap: US$2.834b
- Shares outstanding: 205.56m
- Website: https://www.sabrahealth.com
Number of Employees
Location
- Sabra Health Care REIT, Inc.
- 18500 Von Karman Avenue
- Suite 550
- Irvine
- California
- 92612
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| SBRA | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Nov 2010 |
| SBC | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Nov 2010 |
Biography
As of June 30, 2020, Sabra’s investment portfolio included 427 real estate properties held for investment (consisting of (i) 290 Skilled Nursing/Transitional Care facilities, (ii) 65 Senior Housing communi ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/10/01 00:10 |
| End of Day Share Price | 2020/09/30 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.