Cedar Capital LLC lessened its stake in New Senior Investment Group Inc. (NYSE:SNR) by 14.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 313,272 shares of the real estate investment trust’s stock after selling 53,906 shares during the period. New Senior Investment Group accounts for 1.4% of Cedar Capital LLC’s portfolio, making the stock its 12th biggest holding. Cedar Capital LLC owned about 0.38% of New Senior Investment Group worth $2,866,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of SNR. SG Americas Securities LLC acquired a new position in New Senior Investment Group during the first quarter valued at approximately $101,000. Principal Financial Group Inc. bought a new stake in shares of New Senior Investment Group in the second quarter valued at approximately $101,000. Amalgamated Bank bought a new stake in shares of New Senior Investment Group in the second quarter valued at approximately $104,000. Stevens Capital Management LP bought a new stake in shares of New Senior Investment Group in the second quarter valued at approximately $106,000. Finally, MML Investors Services LLC boosted its position in shares of New Senior Investment Group by 2.9% in the second quarter. MML Investors Services LLC now owns 10,955 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 310 shares during the period. 67.00% of the stock is owned by institutional investors.
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Shares of New Senior Investment Group Inc. (NYSE:SNR) traded up $0.06 during mid-day trading on Tuesday, reaching $8.07. The company had a trading volume of 188,322 shares, compared to its average volume of 633,008. The company has a market capitalization of $658.01, a PE ratio of 6.85 and a beta of 0.88. New Senior Investment Group Inc. has a 52-week low of $7.87 and a 52-week high of $10.82. The company has a debt-to-equity ratio of 4.23, a quick ratio of 1.82 and a current ratio of 1.82.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be issued a dividend of $0.26 per share. The ex-dividend date is Thursday, December 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 12.89%. New Senior Investment Group’s payout ratio is presently -358.62%.
Several brokerages recently commented on SNR. Compass Point cut New Senior Investment Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $13.00 to $10.00 in a research report on Thursday, August 31st. BidaskClub raised New Senior Investment Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $9.67.
New Senior Investment Group 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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