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Fly News Breaks for April 3, 2019
FVE, SNH
Apr 3, 2019 | 09:18 EDT
As previously reported, RBC Capital analyst Michael Carroll downgraded Senior Housing (SNH) to Underperform from Sector Perform and lowered his price target to $8 from $13. The analyst says he is "incrementally more cautious" after the company announced a restructured business partnership with Five Star Senior Living (FVE), with the result of the deal being more dilutive than previously expected. Carroll also believes that Senior Housing will have to cut his annual dividend rate by 65% to 55c-65c per share vs. his prior forecast of 95c.
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