New Senior Investment Group (SNR) Downgraded by ValuEngine to Sell

ValuEngine downgraded shares of New Senior Investment Group (NYSE:SNR) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

Separately, Morgan Stanley upgraded shares of New Senior Investment Group from an underweight rating to an equal weight rating and set a $6.00 target price on the stock in a research report on Monday, October 29th.

Shares of NYSE:SNR opened at $4.73 on Wednesday. New Senior Investment Group has a 12-month low of $4.55 and a 12-month high of $8.89. The company has a market cap of $388.56 million, a price-to-earnings ratio of 6.22 and a beta of 0.38. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 5.14.

New Senior Investment Group (NYSE:SNR) last announced its earnings results on Thursday, November 1st. The real estate investment trust reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.06). New Senior Investment Group had a negative return on equity of 8.87% and a negative net margin of 9.06%. The business had revenue of $117.76 million for the quarter.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 10.99%. New Senior Investment Group’s payout ratio is presently 45.61%.

Several large investors have recently made changes to their positions in SNR. Renaissance Technologies LLC grew its position in shares of New Senior Investment Group by 15.2% during the 2nd quarter. Renaissance Technologies LLC now owns 4,358,200 shares of the real estate investment trust’s stock worth $32,992,000 after purchasing an additional 574,800 shares in the last quarter. BlackRock Inc. boosted its position in shares of New Senior Investment Group by 5.2% during the 3rd quarter. BlackRock Inc. now owns 7,495,564 shares of the real estate investment trust’s stock worth $44,224,000 after acquiring an additional 369,698 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of New Senior Investment Group during the 2nd quarter worth approximately $1,769,000. First Trust Advisors LP boosted its position in shares of New Senior Investment Group by 1,059.2% during the 3rd quarter. First Trust Advisors LP now owns 139,211 shares of the real estate investment trust’s stock worth $821,000 after acquiring an additional 127,202 shares in the last quarter. Finally, Martingale Asset Management L P boosted its position in shares of New Senior Investment Group by 368.1% during the 3rd quarter. Martingale Asset Management L P now owns 136,675 shares of the real estate investment trust’s stock worth $807,000 after acquiring an additional 107,475 shares in the last quarter. Hedge funds and other institutional investors own 64.59% of the company’s stock.

About New Senior Investment Group

New Senior Investment Group (NYSE: SNR) is a publicly-traded real estate investment trust with a diversified portfolio of senior housing properties located across the United States. As of September 30, 2018, New Senior is one of the largest owners of senior housing properties, with 133 properties across 37 states.

Further Reading: Institutional Investors

To view ValuEngine’s full report, visit ValuEngine’s official website.

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