Health Care REIT (HCN -1.7%) slips on a downgrade to Neutral at UBS on the back of its...

|By:, SA News Editor

Health Care REIT (HCN -1.7%) slips on a downgrade to Neutral at UBS on the back of its acquisition of Sunrise Senior Living yesterday. The firm cites the near-term mechanics of the deal and the pressure it will put on operating leverage, plus the potential overhang from a possible equity offering. The deal was an expensive one for HCN, who paid a 62% premium to Sunrise's closing price on Tuesday - marking a level it hasn't traded at in nearly four years.