New Senior Investment Group Inc. (NYSE:SNR) Issues Earnings Results
New Senior Investment Group Inc. (NYSE:SNR) announced its earnings results on Thursday. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by $0.01, Bloomberg Earnings reports. The company had revenue of $114.29 million for the quarter, compared to the consensus estimate of $114.70 million. New Senior Investment Group had a negative return on equity of 5.17% and a negative net margin of 6.41%. During the same period in the previous year, the company earned $0.32 EPS.
Shares of New Senior Investment Group (SNR) traded down 0.43% on Friday, hitting $9.36. The stock had a trading volume of 1,157,646 shares. New Senior Investment Group has a 52 week low of $9.02 and a 52 week high of $12.68. The stock’s 50-day moving average price is $10.15 and its 200 day moving average price is $10.12. The company’s market cap is $768.84 million.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 11.11%. New Senior Investment Group’s dividend payout ratio (DPR) is presently -288.88%.
A number of equities research analysts have issued reports on SNR shares. Canaccord Genuity reaffirmed a “buy” rating on shares of New Senior Investment Group in a research report on Monday, May 15th. Zacks Investment Research cut New Senior Investment Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 16th. Stifel Nicolaus decreased their target price on New Senior Investment Group from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Friday, May 12th. Finally, BidaskClub cut New Senior Investment Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $12.13.
Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of New Senior Investment Group during the fourth quarter valued at approximately $9,128,000. Global X Management Co. LLC acquired a new position in shares of New Senior Investment Group during the first quarter valued at approximately $8,543,000. Vanguard Group Inc. increased its position in shares of New Senior Investment Group by 4.5% in the first quarter. Vanguard Group Inc. now owns 13,324,636 shares of the real estate investment trust’s stock valued at $135,911,000 after buying an additional 574,341 shares in the last quarter. PVG Asset Management Corp acquired a new position in shares of New Senior Investment Group during the first quarter valued at approximately $5,693,000. Finally, Ranger Global Real Estate Advisors LLC acquired a new position in shares of New Senior Investment Group during the first quarter valued at approximately $5,192,000. Institutional investors own 67.35% of the company’s stock.
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About New Senior Investment Group
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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