UPDATE: Stifel Nicolaus Downgrades Brookdale Senior Living to Hold

Stifel Nicolaus is out with its report today on Brookdale Senior Living (NYSE: BKD), downgrading BKD to Hold from Buy.

In its report, Stifel Nicolaus writes, "Even though we see additional upside potential to BKD shares with an NAV estimate of $27 an indicated DCF value range $13-$21 (15%-25% discount rate), we are lowering our rating on BKD share to Hold from Buy."

At the time of posting, shares of BKD were trading at $15.53, down 1.52% from Tuesday's close.