New Senior Announces Third Quarter 2019 Results
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New Senior Investment Group (SNR) Reports Sale of Assisted Living/Memory Care Portfolio for $385M
November 1, 2019 6:15 AM EDTNew Senior Investment Group Inc. (NYSE: SNR) announced today that it has entered into a definitive purchase and sale agreement to sell its entire Assisted Living/Memory Care (AL/MC) portfolio for a gross sale price of $385 million (the Transaction). The Company expects the Transaction to close in the first quarter of 2020, subject to customary closing conditions. The Transaction is expected to materially improve cash flow without a significant impact to AFFO.
The AL/MC portfolio includes 28 properties across 14 states and consists of 2,840 units. The AL/MC portfolio is currently managed by six... More
New Senior Investment Group (SNR) Tops Q3 EPS by 47c
November 1, 2019 6:14 AM EDTNew Senior Investment Group (NYSE: SNR) reported Q3 EPS of $0.34, $0.47 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $115.59 million versus the consensus estimate of $115.95 million.
THIRD QUARTER 2019 FINANCIAL HIGHLIGHTS
Declared cash dividend of $0.13 per common shareNet income attributable to common stockholders of $28.2 million, or $0.34 per diluted shareTotal net operating income (NOI) of $40.4 millionAdjusted same store cash NOI decreased 0.7%... More