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

Congress Wealth Management LLC DE trimmed its stake in shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 50.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 10,775 shares of the real estate investment trust’s stock after selling 10,775 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Sabra Health Care REIT were worth $187,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in Sabra Health Care REIT by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 21,573,436 shares of the real estate investment trust’s stock worth $401,479,000 after purchasing an additional 167,069 shares during the last quarter. Citigroup Inc. increased its position in shares of Sabra Health Care REIT by 104.0% during the third quarter. Citigroup Inc. now owns 316,007 shares of the real estate investment trust’s stock worth $5,881,000 after buying an additional 161,071 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in Sabra Health Care REIT by 15.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 19,661 shares of the real estate investment trust’s stock worth $366,000 after buying an additional 2,654 shares during the last quarter. FMR LLC lifted its holdings in Sabra Health Care REIT by 89.7% in the third quarter. FMR LLC now owns 1,599,532 shares of the real estate investment trust’s stock valued at $29,767,000 after buying an additional 756,418 shares during the period. Finally, Quantbot Technologies LP boosted its position in Sabra Health Care REIT by 437.1% during the third quarter. Quantbot Technologies LP now owns 56,560 shares of the real estate investment trust’s stock valued at $1,053,000 after acquiring an additional 46,030 shares during the last quarter. 99.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Sabra Health Care REIT Trading Up 0.9 %

Shares of Sabra Health Care REIT stock opened at $17.54 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.16 and a current ratio of 4.32. Sabra Health Care REIT, Inc. has a 52 week low of $13.31 and a 52 week high of $20.03. The stock has a 50 day moving average price of $16.83 and a two-hundred day moving average price of $17.67. The stock has a market capitalization of $4.17 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 1.97 and a beta of 1.27.

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

Sabra Health Care REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.20 annualized dividend and a yield of 6.84%. Sabra Health Care REIT’s payout ratio is 226.42%.

Sabra Health Care REIT Company Profile

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.