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Fly News Breaks for February 26, 2018
GEN, HCN
Feb 26, 2018 | 09:23 EDT
RBC Capital analyst Michael Carroll lowered his price target on Welltower (HCN) to $62, stating that the company's earnings growth will be constrained by asset sales and its deal to reduce rent on its master lease with Genesis Healthcare (GEN). Carroll says that in the longer term, the Genesis rent agreement will strengthen its tenant's credit profile, but still remains "cautious on the skilled nursing facility space in general given the ongoing evolution of the reimbursement model". The analyst keeps his Sector Perform rating on Welltower.
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