UPDATE: Stifel Downgrades BioMed Realty Trust On Valuation

In a report published Monday, Stifel analyst Daniel Bernstein downgraded the rating on

from Buy to Hold, and removed the $23.00 price target. In the report, Stifel noted, "Shares reached our $23 target, which we see as fair value. While we don't see any major flaw in strategy or industry fundamentals, we do see faster growers at similar valuation in the healthcare REIT space. As a result, we are lowering our rating to Hold. We could revisit the shares later this year as we get more confidence in 2016 growth assumptions." BioMed Realty Trust closed on Friday at $22.88.