Zacks Investment Research Upgrades New Senior Investment Group (NYSE:SNR) to Hold

Zacks Investment Research upgraded shares of New Senior Investment Group (NYSE:SNR) from a sell rating to a hold rating in a research note published 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. “

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

Shares of SNR opened at $6.36 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 8.00. New Senior Investment Group has a 12-month low of $4.04 and a 12-month high of $7.26. The firm has a 50-day moving average price of $6.78 and a 200 day moving average price of $6.06. The firm has a market capitalization of $542.84 million, a P/E ratio of 11.16 and a beta of 0.72.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 8.18%. The ex-dividend date is Thursday, September 5th. New Senior Investment Group’s dividend payout ratio is currently 91.23%.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP boosted its stake in New Senior Investment Group by 1.0% during the first quarter. First Trust Advisors LP now owns 162,211 shares of the real estate investment trust’s stock worth $884,000 after buying an additional 1,639 shares during the period. Nisa Investment Advisors LLC boosted its stake in New Senior Investment Group by 15.4% during the second quarter. Nisa Investment Advisors LLC now owns 23,754 shares of the real estate investment trust’s stock worth $160,000 after buying an additional 3,164 shares during the period. Cutler Group LP boosted its stake in New Senior Investment Group by 92.0% during the first quarter. Cutler Group LP now owns 6,677 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 3,200 shares during the period. Swiss National Bank boosted its stake in New Senior Investment Group by 2.2% during the second quarter. Swiss National Bank now owns 153,016 shares of the real estate investment trust’s stock worth $1,028,000 after buying an additional 3,300 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in New Senior Investment Group by 34.0% during the second quarter. Daiwa Securities Group Inc. now owns 14,200 shares of the real estate investment trust’s stock worth $95,000 after buying an additional 3,600 shares during the period. 74.34% of the stock is owned by hedge funds and other institutional investors.

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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