Why Sabra Health Care REIT Stock Soared Today
Yahoo Finance ·
One of the healthier real estate investment trusts (REITs) on the stock market Tuesday was Sabra Health Care REIT ( SBRA +10.20% ) . Investors pushed the company's shares up by more than 10% that trading session, on several positive news items. The source of that investor optimism was an operational and financial update Sabra issued in the morning. The company said it has entered into letters of intent to retenant the 26 properties leased to senior living and post-acute care specialist Avamere. Sabra added that when these changes occur, the total rent for the portfolio should be $53 million annually, nearly 30% higher than the $41 million the REIT previously collected. The moves are expected to finalize in the second half of this year.
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Sabra Health Care REIT (SBRA) shares surged over 10% on news of pushing forward with the re-leasing of its Avamere-related portfolio. Investor expectations grew as annual rent is projected to increase by about 30% from the previous $41 million to $53 million. This transaction is scheduled to be finalized in the second half of this year, providing positive momentum across the REIT sector.
상승 영향
- Real Estate REITs — Sabra Health Care REIT surged over 10% on expectations of improved profitability, forecasting a 30% increase in rent.
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