In a report published Thursday, Stifel Nicolaus analyst Robert Mains reiterated a Buy rating on Sabra Health Care REIT SBRA, but lowered the price target from $32.00 to $30..
In the report, Stifel Nicolaus noted, “Sabra Health Care REIT reported second quarter normalized FFO of $0.42 (0.41 as reported by the company) and FAD of $0.41. These figures compare to our estimates of $0.44 and $0.40, respectively, so are in line with our expectations. The quarter's largest nonrecurring item was a $10.5 million ($10.0 million cash) loss on debt extinguishment, including additional interest. Sabra incurred $229,000 in transaction costs that we exclude from normalized FFO but the company does not.”
Sabra Health Care REIT closed on Wednesday at $26.30.
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