Zacks Investment Research Upgrades New Senior Investment Group Inc. (NYSE:SNR) to Hold

Zacks Investment Research upgraded shares of New Senior Investment Group Inc. (NYSE:SNR) from a sell rating to a hold rating in a research note published on Wednesday, July 12th.

According to Zacks, “New Senior Investment Group Inc. is a real estate investment trust focused on investing in senior housing properties across the United States. It operates in two reportable segments: Managed Properties and Triple Net Lease Properties. The Company’s managed portfolio includes assisted living, memory care and independent living properties. Its triple net lease portfolio includes assisted living, memory care, independent living and continuing care retirement communities. New Senior Investment Group Inc. is based in United States. “

A number of other research firms have also recently weighed in on SNR. Morgan Stanley assumed coverage on New Senior Investment Group in a research note on Monday, March 20th. They issued an underweight rating and a $9.00 price target on the stock. BidaskClub cut New Senior Investment Group from a buy rating to a hold rating in a research note on Saturday, July 8th. Canaccord Genuity restated a buy rating on shares of New Senior Investment Group in a research note on Friday, May 5th. Finally, Stifel Nicolaus dropped their price objective on New Senior Investment Group from $11.00 to $10.00 and set a hold rating on the stock in a report on Friday, May 12th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $10.67.

Shares of New Senior Investment Group (SNR) traded up 0.88% on Wednesday, hitting $9.16. The stock had a trading volume of 881,943 shares. The stock’s market capitalization is $752.48 million. The firm has a 50-day moving average price of $10.02 and a 200-day moving average price of $10.07. New Senior Investment Group has a 52 week low of $8.82 and a 52 week high of $12.68.

New Senior Investment Group (NYSE:SNR) last posted its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.01. New Senior Investment Group had a negative net margin of 6.41% and a negative return on equity of 5.28%. The business had revenue of $114.29 million during the quarter, compared to analyst estimates of $114.70 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. Equities analysts expect that New Senior Investment Group will post ($0.64) earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 11.35%. The ex-dividend date is Thursday, September 7th. New Senior Investment Group’s dividend payout ratio is currently -288.88%.

Several institutional investors have recently added to or reduced their stakes in SNR. SG Americas Securities LLC bought a new position in New Senior Investment Group during the first quarter worth about $101,000. Principal Financial Group Inc. bought a new position in New Senior Investment Group during the second quarter worth about $101,000. Amalgamated Bank purchased a new stake in shares of New Senior Investment Group during the second quarter worth approximately $104,000. BTC Capital Management Inc. purchased a new stake in shares of New Senior Investment Group during the first quarter worth approximately $105,000. Finally, Stevens Capital Management LP purchased a new stake in shares of New Senior Investment Group during the second quarter worth approximately $106,000. 67.45% of the stock is currently owned by hedge funds and other institutional investors.

New Senior Investment Group Company Profile

New Senior Investment Group Inc is a real estate investment trust with a diversified portfolio of primarily private pay senior housing properties located across the United States. The Company operates through two segments: Managed Properties and Triple Net Lease Properties. As of December 31, 2016, the Company owned a diversified portfolio of 152 primarily private pay senior housing properties located across 37 states.

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