UPDATE: Stifel Nicolaus Upgrades Senior Housing Property Trust to Buy on Relative Value
Stifel Nicolaus upgraded its rating on Senior Housing Property Trust (NYSE: SNH) from Hold to Buy and established a price target of $25 per share.
Stifel Nicolaus noted, "We are upgrading shares of Senior Housing Properties Trust to Buy / $25 PT from Hold. While we have historically upgraded the shares at a 10%-20% discount to NAV versus current 1.1% discount, shares have inexplicably underperformed peers this year and we believe the widening valuation gap warrants an upgrade given SNH's low government reimbursement exposure, conservative balance sheet, and 6.7% dividend. The $25 PT provides 9.9% potential appreciation / 16.6% total return."
Senior Housing Property Trust closed at $22.75 on Friday.
Latest Ratings for SNH
|Mar 2017||Baird||Initiates Coverage On||Neutral|
|Dec 2016||Cantor Fitzgerald||Initiates Coverage On||Overweight|
|Dec 2016||Wells Fargo||Downgrades||Market Perform||Underperform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.