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Sabra Health Care downgraded to Underperform from Neutral at BofA » 08:37
03/23/20
03/23
08:37
03/23/20
08:37
SBRA

Sabra Health Care

$9.05 /

+1.05 (+13.13%)

BofA analyst Joshua…

BofA analyst Joshua Dennerlein downgraded Sabra Health Care to Underperform from Neutral.

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Periodicals
COVID-19 spreads to more elder facilities in Seattle area, WSJ reports » 13:36
03/11/20
03/11
13:36
03/11/20
13:36
SBRA

Sabra Health Care

$14.15 /

-1.44 (-9.24%)

The disease caused by the…

The disease caused by the novel coronavirus has turned up among residents or workers in at least 11 elder-care facilities in the Seattle area, and at least three have reported fatalities among residents, The Wall Street Journal's Jon Kamp writes, citing local health authorities. Life Care Center of Kirkland, a nursing home just east of Seattle, has been linked to 19 of the 22 deaths in King County through Monday, according to the local public-health department. Another ten elder-care facilities in the Seattle area have also been linked to cases, either among residents or staff, including Sabra Health Care's owned Issaquah Nursing & Rehabilitation Center. Reference Link

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Recommendations
Sabra Health Care to be pressured by coronavirus at facility, says Mizuho » 13:34
03/11/20
03/11
13:34
03/11/20
13:34
SBRA

Sabra Health Care

$14.16 /

-1.43 (-9.17%)

, VTR

Ventas

$39.23 /

-4.73 (-10.76%)

, WELL

Welltower

$57.34 /

-7.28 (-11.27%)

, OHI

Omega Healthcare

$32.22 /

-2.79 (-7.97%)

, CTRE

CareTrust REIT

$17.01 /

-2.66 (-13.52%)

, LTC

LTC Properties

$38.12 /

-2.18 (-5.41%)

, PEAK

Healthpeak

$29.74 /

-2.37 (-7.38%)

, DHC

Diversified Healthcare Trust

$4.78 /

-0.375 (-7.27%)

, SNR

New Senior Investment

$4.87 /

-0.52 (-9.65%)

Mizuho analyst Omotayo…

Mizuho analyst Omotayo Okusanya noted that Issaquah Nursing Home, which is owned by Sabra Health Care (SBRA), has confirmed the death of one of its residents from the coronavirus. Okusanya expects pressure on the stock given the coronavirus news, but said the news "feels priced in" with the stock down 10% today and down over 30% during the last two weeks. Other healthcare REITs with large skilled nursing and senior housing platforms include Ventas (VTR), Welltower (WELL), Omega Healthcare (OHI), CareTrust REIT (CTRE), LTC Properties (LTC), Healthpeak (PEAK), Diversified Healthcare Trust (DHC) and New Senior Investment (SNR), said the analyst. Okusanya keeps a Buy rating and $25 price target on Sabra shares.

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Over a month ago
Upgrade
Sabra Health Care upgraded to Buy from Neutral at Mizuho » 08:48
02/26/20
02/26
08:48
02/26/20
08:48
SBRA

Sabra Health Care

$21.21 /

-1.14 (-5.10%)

Mizuho analyst Omotayo…

Mizuho analyst Omotayo Okusanya upgraded Sabra Health Care to Buy from Neutral with a $22 price target, citing his view that the earnings and equity overhangs are now behind the company. Okusanya also notes that Sabra's acquisition outlook and capital allocation plans for 2020 are better than initially feared and he sees an improving skilled nursing reimbursement environment.

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Earnings
Sabra Health Care sees FY20 EPS 81c-91c, consensus 84c » 07:16
02/24/20
02/24
07:16
02/24/20
07:16
SBRA

Sabra Health Care

$22.00 /

-0.135 (-0.61%)

Sees FY20 normalized AFFO…

Sees FY20 normalized AFFO per share $1.70-$1.80.

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Earnings
Sabra Health Care reports Q4 EPS 20c, consensus 20c » 07:14
02/24/20
02/24
07:14
02/24/20
07:14
SBRA

Sabra Health Care

$22.00 /

-0.135 (-0.61%)

Reports Q4 revenue…

Reports Q4 revenue $155.76M, consensus $151.29M. Reports Q4 normalized AFFO per share 47c. Commenting on the fourth quarter results, Rick Matros, CEO and Chairman, said, "With our balance sheet activities and restructuring completed in 2019, we have a strong foundation and are primarily focused on growth in 2020. Activity has picked up since the end of the third quarter as noted in the highlights above. Additionally, we are in the process of finalizing a purchase and sale agreement for a $150 million Senior Housing investment. While this investment is expected to be earnings neutral in the near term, it will provide additional balance to our portfolio and is expected to be accretive in the future. We are starting to see more opportunities in the Skilled Nursing/Transitional Care space and are focused on growth there. Our 2020 guidance incorporates our commitment to maintain our dividend and leverage at current levels, and we expect to see dividend coverage improve in the latter part of the year. Operating statistics for our Skilled Nursing/Transitional Care, Specialty Hospitals and Other, and Senior Housing triple-net leased portfolios have been quite stable over the last four quarters. Sabra's same store triple-net leased coverage and occupancy are similarly stable. Sabra's top ten relationships generally showed improved performance over the prior quarter. Avamere, while down from the prior quarter, appears to have bottomed out in the third quarter, and its performance is improving in the first quarter of 2020. Sabra's same store Senior Housing - Managed portfolio continues to perform well with both the wholly-owned and Sabra's unconsolidated joint venture with Enlivant showing strong year-over-year Cash NOI growth. In summary, our strong foundation has put us in an excellent position to make digestible, sustainable investments."

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Initiation
Sabra Health Care initiated with a Hold at Berenberg » 07:04
02/05/20
02/05
07:04
02/05/20
07:04
SBRA

Sabra Health Care

$21.39 /

-0.17 (-0.79%)

Berenberg analyst Connor…

Berenberg analyst Connor Siversky initiated coverage of Sabra Health Care with a Hold rating and $22 price target. The analyst believes Sabra's "relatively low" multiple valuation will continue to challenge its growth profile in 2020 and beyond.

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Initiation
Sabra Health Care initiated with a Hold at Berenberg » 06:02
02/05/20
02/05
06:02
02/05/20
06:02
SBRA

Sabra Health Care

$21.39 /

-0.17 (-0.79%)

Berenberg initiated…

Berenberg initiated coverage of Sabra Health Care with a Hold rating and $22 price target.

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Recommendations
Healthcare REIT sector downgraded to Market Weight at Raymond James » 08:27
01/07/20
01/07
08:27
01/07/20
08:27
WELL

Welltower

$82.78 /

+1.15 (+1.41%)

, OHI

Omega Healthcare

$42.13 /

+0.05 (+0.12%)

, HTA

Healthcare Trust

$29.98 /

+0.01 (+0.03%)

, HR

Healthcare Realty Trust

$33.33 /

+0.11 (+0.33%)

, SBRA

Sabra Health Care

$21.31 /

+0.21 (+1.00%)

, DOC

Physicians Realty Trust

$18.69 /

+0.065 (+0.35%)

, CTRE

CareTrust REIT

$20.62 /

+0.03 (+0.15%)

, DHC

Diversified Healthcare Trust

$8.01 /

-0.08 (-0.99%)

Raymond James analyst…

Raymond James analyst William Crow downgraded the healthcare REIT sector to Market Weight from Overweight. While he is maintaining a somewhat more defensive stance towards REITs overall which would normally lead to a constructive view on the healthcare REIT sector, Crow says that uncertainty surrounding seniors housing due to a strong flu season and new supply pressure, as well as skilled nursing that could face regulatory headwinds leads him to believe the stability and relative value offered by medical office buildings and medical office building focused names are best positioned.

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Over a quarter ago
Initiation
Sabra Health Care initiated with a Neutral at Mizuho » 16:28
12/19/19
12/19
16:28
12/19/19
16:28
SBRA

Sabra Health Care

$21.28 /

+0.27 (+1.29%)

Mizuho analyst Omotayo…

Mizuho analyst Omotayo Okusanya initiated coverage of Sabra Health Care with a Neutral rating and $22 price target. The company's earnings growth "may not be that compelling" in 2020 as the impact of all its portfolio restructuring in 2018/2019 will still have some earnings drag, Okusanya tells investors in a research note. Further, Sabra needs to further de-lever to maintain its investment grade rating, adds the analyst.

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