Anything down Year-To-Date may be subject to further selling pressure for the remainder of Dec. I believe SNH is in that category and will likely see a healthy bounce in the new year. People will be kicking themselves for not buying now.
Are you sure that isn't just wishful thinking? I suppose as long as the divvy is safe, I'm not that concerned, although I've no reason to believe SNH is going anywhere any time soon. Consolidation in this sector appears to be a few years off.
Follow that external management path, all roads lead to the Portnoys. They are now in a proxy battle with CWH - CommonWealth, another horse pulling their wagon. Seems they have little regard for the shareholders. Goggle RMR.
My take: Here we are at 7% yield in SNH while the 10 Year T Bond is at about 3% (admittedly rising). In a properly priced world, with a REIT dividend as safe as SNH's and likely to increase with the new properties, the spread between these two characters should not be sot big. I'm thinking a 2-3% spread might be more appropriate than 4%.