Sabra Health Care downgraded to Hold from Buy at Truist on relative valuation

Truist analyst Michael Lewis downgraded Sabra Health Care (SBRA) to Hold from Buy with a price target of $17, down from $18. The firm cites relative valuation for the downgrade, after the stock was up 31% last year vs. 9% for REITs overall. While Sabra Health Care REIT is still a little cheaper than some of its peers, Truist projects slightly below average FFO and FAD growth over the next three- and five-year periods, and thinks there may be better opportunities elsewhere, the analyst tells investors in a research note.