New Senior Investment Group Inc. (SNR) Short Interest Up 77.3% in September
New Senior Investment Group Inc. (NYSE:SNR) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 3,140,331 shares, an increase of 77.3% from the September 15th total of 1,771,442 shares. Approximately 4.0% of the shares of the stock are short sold. Based on an average trading volume of 672,091 shares, the short-interest ratio is presently 4.7 days.
Shares of New Senior Investment Group (NYSE:SNR) opened at 10.38 on Tuesday. The company’s market capitalization is $852.48 million. New Senior Investment Group has a 1-year low of $7.78 and a 1-year high of $12.68. The stock has a 50 day moving average price of $11.39 and a 200 day moving average price of $11.17.
New Senior Investment Group (NYSE:SNR) last released its quarterly earnings data on Thursday, August 4th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.01. The company had revenue of $118.54 million for the quarter, compared to analysts’ expectations of $118.98 million. New Senior Investment Group had a negative net margin of 19.39% and a negative return on equity of 12.19%. The company’s quarterly revenue was up 30.0% on a year-over-year basis. On average, equities analysts anticipate that New Senior Investment Group will post $1.33 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th were paid a dividend of $0.26 per share. The ex-dividend date was Tuesday, September 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 10.02%. New Senior Investment Group’s payout ratio is currently -98.11%.
A number of equities analysts recently commented on the company. Zacks Investment Research raised New Senior Investment Group from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Saturday, October 1st. Canaccord Genuity reissued a “buy” rating on shares of New Senior Investment Group in a research note on Monday, August 15th. Finally, Compass Point increased their price target on New Senior Investment Group from $14.00 to $16.50 and gave the company a “buy” rating in a research note on Monday, August 8th.
Several institutional investors have recently added to or reduced their stakes in SNR. Bank of Montreal Can bought a new position in New Senior Investment Group during the second quarter worth $9,632,000. Emerald Acquisition Ltd. acquired a new position in shares of New Senior Investment Group during the second quarter valued at $6,436,000. Royal Bank of Canada raised its position in shares of New Senior Investment Group by 50.4% in the first quarter. Royal Bank of Canada now owns 1,224,848 shares of the real estate investment trust’s stock valued at $12,616,000 after buying an additional 410,610 shares in the last quarter. Punch & Associates Investment Management Inc. raised its position in shares of New Senior Investment Group by 42.5% in the second quarter. Punch & Associates Investment Management Inc. now owns 751,173 shares of the real estate investment trust’s stock valued at $8,023,000 after buying an additional 223,883 shares in the last quarter. Finally, Fortress Investment Group LLC acquired a new position in shares of New Senior Investment Group during the second quarter valued at $1,846,000. Institutional investors and hedge funds own 71.66% of the company’s stock.
About New Senior Investment Group
New Senior Investment Group Inc is a real estate investment trust (REIT) with a diversified portfolio of senior housing properties located across the United States. The Company conducts its business through two segments: Managed Properties and Triple Net Lease Properties. Under its Managed Properties segment, the Company operates approximately 100 properties under property management agreements with the Property Managers.
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