Essex Financial Services Inc. Sells 2,117 Shares of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)

Essex Financial Services Inc. reduced its stake in Sabra Health Care REIT, Inc. (NASDAQ:SBRA) by 4.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 51,372 shares of the real estate investment trust’s stock after selling 2,117 shares during the quarter. Essex Financial Services Inc.’s holdings in Sabra Health Care REIT were worth $890,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SBRA. Principal Financial Group Inc. grew its stake in Sabra Health Care REIT by 0.8% in the third 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Sabra Health Care REIT by 222.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,886,917 shares of the real estate investment trust’s stock worth $183,996,000 after buying an additional 6,819,919 shares during the period. 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 buying an additional 104,533 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Sabra Health Care REIT by 8.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,701,881 shares of the real estate investment trust’s stock valued at $87,502,000 after buying an additional 365,855 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Sabra Health Care REIT by 736.5% during the third quarter. Wellington Management Group LLP now owns 2,396,835 shares of the real estate investment trust’s stock valued at $44,605,000 after buying an additional 2,110,307 shares during the period. 99.40% of the stock is owned by hedge funds and other institutional investors.

Sabra Health Care REIT Trading Down 2.3 %

NASDAQ SBRA opened at $16.24 on Wednesday. Sabra Health Care REIT, Inc. has a 52 week low of $13.26 and a 52 week high of $20.03. The company has a 50 day moving average price of $17.09 and a 200 day moving average price of $17.63. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.90. The firm has a market cap of $3.84 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 2.02 and a beta of 1.25.

Sabra Health Care REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.39%. The ex-dividend date of this dividend is Friday, February 14th. Sabra Health Care REIT’s payout ratio is presently 292.69%.

Wall Street Analyst Weigh In

SBRA has been the subject of a number of research reports. Citizens Jmp raised shares of Sabra Health Care REIT from a “hold” rating to a “strong-buy” rating in a research note 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. Truist Financial lowered shares of Sabra Health Care REIT from a “buy” rating to a “hold” rating and cut their price objective for the company from $18.00 to $17.00 in a report on Friday, January 17th. Finally, 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. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Sabra Health Care REIT presently has an average rating of “Moderate Buy” and an average target price of $18.86.

Sabra Health Care REIT 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.