Shikiar Asset Management Inc. Sells 246,550 Shares of New Senior Investment Group Inc. (SNR)

Shikiar Asset Management Inc. lowered its stake in shares of New Senior Investment Group Inc. (NYSE:SNR) by 55.1% during the second quarter, Holdings Channel reports. The institutional investor owned 200,850 shares of the real estate investment trust’s stock after selling 246,550 shares during the period. Shikiar Asset Management Inc.’s holdings in New Senior Investment Group were worth $2,019,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in New Senior Investment Group during the fourth quarter valued at approximately $9,128,000. Global X Management Co. LLC acquired a new stake in New Senior Investment Group during the first quarter valued at approximately $8,543,000. Vanguard Group Inc. raised its stake in 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 stake in New Senior Investment Group during the first quarter valued at approximately $5,693,000. Finally, Ranger Global Real Estate Advisors LLC acquired a new stake in New Senior Investment Group during the first quarter valued at approximately $5,192,000. 67.22% of the stock is owned by institutional investors and hedge funds.

Shares of New Senior Investment Group Inc. (SNR) opened at 9.24 on Wednesday. The company has a 50 day moving average of $9.97 and a 200 day moving average of $10.05. The stock’s market cap is $759.05 million. New Senior Investment Group Inc. has a 12 month low of $8.82 and a 12 month high of $12.68.

New Senior Investment Group (NYSE:SNR) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.01. The firm had revenue of $114.29 million for the quarter, compared to analyst estimates of $114.70 million. New Senior Investment Group had a negative net margin of 6.41% and a negative return on equity of 5.28%. During the same quarter in the prior year, the firm posted $0.32 EPS. Equities research analysts expect that New Senior Investment Group Inc. will post ($0.64) earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 11.26%. The ex-dividend date of this dividend is Thursday, September 7th. New Senior Investment Group’s dividend payout ratio is currently -288.88%.

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SNR has been the subject of several recent research reports. Stifel Nicolaus cut their target price on shares of New Senior Investment Group from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, May 12th. Canaccord Genuity restated a “buy” rating on shares of New Senior Investment Group in a research report on Monday, May 15th. Zacks Investment Research downgraded shares of New Senior Investment Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 16th. Finally, BidaskClub downgraded shares of New Senior Investment Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $10.67.

New Senior Investment Group Company Profile

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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Institutional Ownership by Quarter for New Senior Investment Group (NYSE:SNR)

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