New Senior Investment Group (NYSE:SNR) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of New Senior Investment Group (NYSE:SNR) from a hold rating to a sell rating in a report released on Wednesday, 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 research analysts also recently issued reports about the stock. Morgan Stanley raised their price objective on shares of New Senior Investment Group from $5.25 to $6.25 and gave the stock an equal weight rating in a report on Tuesday, September 17th. BTIG Research began 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. Finally, ValuEngine downgraded shares of New Senior Investment Group from a buy rating to a hold rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $7.08.

SNR traded up $0.09 on Wednesday, hitting $6.66. The company’s stock had a trading volume of 273,872 shares, compared to its average volume of 501,036. The company’s 50 day simple moving average is $6.43 and its 200-day simple moving average is $6.30. The firm has a market cap of $553.62 million, a P/E ratio of 11.68 and a beta of 0.77. New Senior Investment Group has a 12 month low of $4.04 and a 12 month high of $7.26. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 8.00.

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 7.81%. The ex-dividend date of this dividend was Thursday, September 5th. New Senior Investment Group’s payout ratio is 91.23%.

A number of large investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of New Senior Investment Group during the 1st quarter valued at $166,000. JPMorgan Chase & Co. raised its position in shares of New Senior Investment Group by 1,632.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,810,986 shares of the real estate investment trust’s stock valued at $9,870,000 after buying an additional 1,706,448 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of New Senior Investment Group during the 1st quarter valued at $75,000. Trust Co. of Toledo NA OH purchased a new stake in shares of New Senior Investment Group during the 1st quarter valued at $97,000. Finally, First Trust Advisors LP raised its position in shares of New Senior Investment Group by 1.0% during the 1st quarter. First Trust Advisors LP now owns 162,211 shares of the real estate investment trust’s stock valued at $884,000 after buying an additional 1,639 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

New Senior Investment Group Company Profile

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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