New Senior Investment initiated with an Underweight at Morgan Stanley. Morgan Stanley analyst Vikram Malhotra initiated New Senior Investment with an Underweight and a $9 price target. The analyst believes the company will struggle to show meaningful growth given higher relative inventory growth, mid to low-end market positioning, and a leveraged balance sheet.
The Board of Directors of New Senior Investment Group (SNR) has appointed Bhairav Patel, as Interim CFO and Treasurer, effective as of September 26. Patel has served as the company's Chief Accounting Officer since March 2016, and he will continue to serve in this role. Patel is a Managing Director at Fortress Investment Group (FIG).