Congress Wealth Management LLC DE Sells 10,775 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Congress Wealth Management LLC DE reduced its position in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 50.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,775 shares of the real estate investment trust’s stock after selling 10,775 shares during the period. Congress Wealth Management LLC DE’s holdings in Sabra Health Care REIT were worth $187,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Sabra Health Care REIT by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,294,798 shares of the real estate investment trust’s stock worth $117,165,000 after purchasing an additional 104,533 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Sabra Health Care REIT by 222.4% in the third quarter. JPMorgan Chase & Co. now owns 9,886,917 shares of the real estate investment trust’s stock valued at $183,996,000 after buying an additional 6,819,919 shares during the period. Vestcor Inc increased its stake in Sabra Health Care REIT by 62.5% during the 3rd quarter. Vestcor Inc now owns 207,918 shares of the real estate investment trust’s stock worth $3,869,000 after acquiring an additional 79,956 shares during the period. Barclays PLC increased its stake in Sabra Health Care REIT by 56.1% during the 3rd quarter. Barclays PLC now owns 678,397 shares of the real estate investment trust’s stock worth $12,624,000 after acquiring an additional 243,895 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Sabra Health Care REIT by 12.3% in the 3rd quarter. Franklin Resources Inc. now owns 524,917 shares of the real estate investment trust’s stock valued at $9,543,000 after acquiring an additional 57,551 shares in the last quarter. 99.40% of the stock is currently owned by institutional investors.

Sabra Health Care REIT Price Performance

SBRA stock opened at $17.54 on Monday. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 33.09, a P/E/G ratio of 1.97 and a beta of 1.27. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.32 and a quick ratio of 4.16. The company has a 50 day simple moving average of $16.83 and a 200 day simple moving average of $17.67. Sabra Health Care REIT, Inc. has a 1 year low of $13.31 and a 1 year high of $20.03.

Sabra Health Care REIT (NASDAQ:SBRA) last announced its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. Sabra Health Care REIT had a net margin of 18.02% and a return on equity of 4.60%. The company had revenue of $182.35 million during the quarter, compared to the consensus estimate of $178.01 million. Research analysts anticipate that Sabra Health Care REIT, Inc. will post 1.45 EPS for the current fiscal year.

Sabra Health Care REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.84%. The ex-dividend date of this dividend was Friday, February 14th. Sabra Health Care REIT’s dividend payout ratio (DPR) is currently 226.42%.

Analysts Set New Price Targets

Several analysts have recently issued reports on SBRA shares. JMP Securities raised Sabra Health Care REIT from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Tuesday, January 7th. Mizuho reiterated a “neutral” rating and set a $20.00 price objective on shares of Sabra Health Care REIT in a research note on Thursday, December 5th. Citizens Jmp upgraded shares of Sabra Health Care REIT from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Truist Financial increased their price target on shares of Sabra Health Care REIT from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, March 18th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.33.

About Sabra Health Care REIT

Sabra Health Care REIT, Inc engages in the business of acquiring, financing, and owning real estate property. The company was founded on May 10, 2010 and is headquartered in Tustin, CA.