New Senior Investment Group Inc. (SNR) Trading Down 9.2% on Disappointing Earnings
New Senior Investment Group Inc. (NYSE:SNR)’s share price traded down 9.2% on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $9.36 and last traded at $9.40, with a volume of 2,547,989 shares traded. The stock had previously closed at $10.35.
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. New Senior Investment Group had a negative return on equity of 10.16% and a negative net margin of 12.84%. During the same period last year, the firm posted $0.32 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a $0.26 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.04 dividend on an annualized basis and a yield of 11.06%. New Senior Investment Group’s payout ratio is presently -142.46%.
Several brokerages have recently weighed in on SNR. Stifel Nicolaus reissued a “hold” rating and issued a $10.00 price target on shares of New Senior Investment Group in a research note on Friday, July 14th. BidaskClub cut New Senior Investment Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Zacks Investment Research cut New Senior Investment Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 22nd. Finally, Canaccord Genuity reissued a “buy” rating on shares of New Senior Investment Group in a research note on Friday, May 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.13.
Several large investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in shares of New Senior Investment Group during the first quarter valued at approximately $101,000. BTC Capital Management Inc. acquired a new stake in shares of New Senior Investment Group during the first quarter valued at approximately $105,000. Independent Advisor Alliance acquired a new stake in shares of New Senior Investment Group during the first quarter valued at approximately $108,000. Capital Investment Advisors LLC raised its stake in shares of New Senior Investment Group by 31.8% in the second quarter. Capital Investment Advisors LLC now owns 14,500 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 3,500 shares during the last quarter. Finally, Creative Planning raised its stake in shares of New Senior Investment Group by 7.2% in the first quarter. Creative Planning now owns 16,045 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 1,074 shares during the last quarter. Institutional investors own 67.35% of the company’s stock.
The company’s 50 day moving average is $10.15 and its 200 day moving average is $10.12. The firm’s market cap is $772.13 million.
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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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