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Fly News Breaks for May 23, 2018
LTC
May 23, 2018 | 07:22 EDT
As reported earlier, RBC Capital analyst Michael Carroll downgraded LTC Properties to Underperform from Sector Perform and lowered his price target to $38 from $43. The analyst notes that while the stock has traded at a premium to its peer group historically, valuation should now be more in line due to a "precipitous drop in the skilled nursing facility coverage ratios and the slight increase in leverage", even though he still sees its financial position as strong.
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