New Senior Investment Group (NYSE:SNR) Raised to “Hold” at Zacks Investment Research

New Senior Investment Group (NYSE:SNR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Saturday, Zacks.com reports.

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 analysts have also recently issued reports on the company. BTIG Research initiated coverage on New Senior Investment Group in a report on Tuesday, July 16th. They issued a “buy” rating and a $8.00 price target for the company. ValuEngine cut New Senior Investment Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Robert W. Baird initiated coverage on New Senior Investment Group in a report on Friday, May 31st. They issued a “neutral” rating and a $7.00 price target for the company. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $6.67.

Shares of New Senior Investment Group stock traded down $0.04 during trading on Friday, reaching $6.58. The company’s stock had a trading volume of 284,682 shares, compared to its average volume of 388,454. The stock has a 50-day moving average of $6.86. The company has a debt-to-equity ratio of 8.00, a current ratio of 1.15 and a quick ratio of 1.55. New Senior Investment Group has a one year low of $4.04 and a one year high of $7.26. The firm has a market capitalization of $545.31 million, a PE ratio of 11.54 and a beta of 0.72.

Several institutional investors have recently added to or reduced their stakes in SNR. Geode Capital Management LLC boosted its position in shares of New Senior Investment Group by 33.8% during the 4th quarter. Geode Capital Management LLC now owns 1,014,091 shares of the real estate investment trust’s stock worth $4,177,000 after purchasing an additional 256,108 shares during the period. Two Sigma Advisers LP purchased a new position in New Senior Investment Group in the 4th quarter valued at approximately $214,000. Bank of America Corp DE boosted its position in New Senior Investment Group by 221.4% in the 4th quarter. Bank of America Corp DE now owns 150,430 shares of the real estate investment trust’s stock valued at $620,000 after buying an additional 103,626 shares during the period. D. E. Shaw & Co. Inc. purchased a new position in New Senior Investment Group in the 4th quarter valued at approximately $474,000. Finally, Squarepoint Ops LLC boosted its position in New Senior Investment Group by 102.5% in the 4th quarter. Squarepoint Ops LLC now owns 69,257 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 35,057 shares during the period. 70.48% of the stock is owned by institutional investors and hedge funds.

About New Senior Investment Group

New Senior Investment Group Inc (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 December 31, 2018, New Senior is one of the largest owners of senior housing properties, with 133 properties across 37 states.

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