Sabra Capital Partners
Hedge fund manager, long/short equity, special situations, event-driven

Adcare Health: Hidden Value To Be Realized

Sabra Capital Partners, LLC holds a sizeable position in Adcare Health Systems (NYSE: ADK) and believes it is a top ten shareholder based on publicly available data. We plan to continue building our position pending additional capital inflows and incremental steps by management to unlock shareholder value. Adcare represents a compelling investment opportunity based on its asymmetric risk/reward profile. We believe the downside is limited due to the company's highly dependable, strong free cash flow going forward as well as its valuable real estate assets. Based on our research and conversations with industry experts, we value the company's real estate at $9.00 per share if the company acted to monetize this asset, more than double the company's current share...

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