Mizuho Securities Reiterates Neutral on Sabra Health Care REIT (SBRA) After Meeting with Management
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Mizuho Securities reiterated a Neutral rating and $23.00 price target on Sabra Health Care REIT (NASDAQ: SBRA) after spending time with management. Mizuho said that the company comes off as much larger and influential in comparison to its relatively small size and believes that feeling comes from the operational mentality of senior management.
Analyst Richard Anderson commented, "We spent two days last week with SBRA senior management which provided insight into the company’s portfolio and strategy, as well as the post-acute and senior housing sectors in general -- the former dealing with CMS pilot programs that could test some operators' ability to remain profitable. Despite the positive impression we took away from the meetings, and there were many including management operating acumen, apparent progress on the GEN asset sales and a strong balance sheet, we remain Neutral on SBRA given the various elements of uncertainty related to execution and headline risk."
Shares of Sabra Healthcare REIT Inc. closed at $23.07 yesterday.
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