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Sabra's Texas Exits Removes A Year-Long Overhang

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Canaccord's Paul Morgan reiterated Sabra Health Care REIT (NASDAQ: SBRA)'s Hold rating with a price target of $23.

Sabra announced Tuesday it will sell its Forest Park Dallas, which Morgan praised. "Sabra has been working on realizing its "Texit" for months, and today's announcement that the sale of Forest Park Medical Center Dallas is a welcome positive," stated the analyst. This will mark a "full exit" from Sabra's struggling Texas hospital investments by midyear.

The Canaccord analyst is happy to see the company shifting its focus on the Sabra's "$200 million senior housing acquisition pipeline."

Due to the beneficial shift, the analyst raised 2017 EBITDA estimates from $225.0 million to $227.10 million.

Latest Ratings for SBRA

DateFirmActionFromTo
Feb 2019DowngradesMarket PerformUnderperform
Dec 2018MaintainsMarket PerformMarket Perform
Nov 2018DowngradesNeutralUnderperform

View More Analyst Ratings for SBRA
View the Latest Analyst Ratings

Posted-In: Canaccord Paul MorganAnalyst Color Reiteration Analyst Ratings

 

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