UPDATE: Stifel Nicolaus Downgrades Senior Housing Properties Trust to Hold

Stifel Nicolaus lowers its rating on Senior Housing Properties Trust

to Hold from Buy as it believes the company's valuation is approaching fair level given proximity to previously assigned price target (now suspended). Stifel Nicolaus notes, "Our long-standing view toward SNH has been to recommend the shares when they are trading at a discount to NAV (usually 10%-20% discount) and get out the name when shares trade at NAV or higher, all else being equal. SNH trades within $1 of our $23 NAV estimate, and as a result we downgraded the shares." SNH closed at $22.91 a share on Monday.