| Market Capitalization (Millions $) |
- |
| Shares
Outstanding (Millions) |
84 |
| Employees |
48 |
| Revenues (TTM) (Millions $) |
324 |
| Net Income (TTM) (Millions $) |
-29 |
| Cash Flow (TTM) (Millions $) |
-77 |
| Capital Exp. (TTM) (Millions $) |
10 |
Business Description
New Senior Investment Group Inc. is a publicly traded real estate investment trust (REIT) that specializes in senior housing. The company's aim is to provide high-quality, affordable senior living options to older adults over 75 years of age in the United States.
Located in New York, New Senior was formed in 2014 as a spinoff of Newcastle Investment Corp, which became part of an unrelated company eventually. On its formation, the company acquired 51 properties, comprising of approximately 8,200 units, from affiliates of Fortress Investment Group, a New York based private investment firm. The company's portfolio consists of independent living, assisted living, and memory care communities located in 16 states.
New Senior focuses on investing in senior living properties that show signs of potential for long-term growth as Americans age, with a preference for housing with high barriers to entry but lower competition. The firm has an extensive past relationship with seniors as Managing Director Susan Givens had served as CEO of Sunrise Senior Living, one of the largest senior-living property managers in the country.
Over the years, the company's portfolio has undergone rapid expansion due to various transactions it undertook to acquire more senior living properties in different localities in the US. The strategic acquisitions and investment initiatives undertaken have led to a total of 102 properties with approximately 14,900 units in its portfolio as of 2021.
New Senior also exercises stringent measures to ensure that the properties in its portfolio maintain the highest standards of care while providing senior occupants the best living facilities. To this end, the company invests and manages substantially in terms of making capital operational improvements within its properties. Additionally, New Senior has a rigorous system of vetting new properties before potential acquisition.
In conclusion, New Senior Investment Group Inc. is a REIT that has prioritized finding ways to accommodate and make provision for the growing senior population in the United States. Thanks to its strategic acquisitions, considerable investment in its properties, and its experienced leadership, the firm has become one of the leading owners and operators of senior living facilities that aims at addressing social welfare issues while also offering an attractive investment option for shareholders.
Company Address: 55 West 46th Street, Suite 2204 New York 10036 NY
Company Phone Number: 822-3700 Stock Exchange / Ticker: NYSE SNR
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