UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Senior Housing Properties Trust
In a report published Friday, Jefferies & Company reiterated its Buy rating on Senior Housing Properties Trust (NYSE: SNH), but slightly lowered its price target from $25.00 to $24.00.
Jefferies noted, “SNH's recent RIDEA related acquisitions have largely settled and the transition of the company's Sunrise-operated triple-net seniors housing facilities to Five Star under a RIDE structure is nearing completion. We believe SNH should be able to capture incremental long-term earnings through its new RIDEA platform. That said, it could take some time to create value.”
Senior Housing Properties Trust closed on Thursday at $22.22.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.