Edition:
United States

New Senior Investment Group Reports Q1 Adjusted FFO Per Share Of $0.20


Thursday, 10 May 2018 06:40am EDT 

May 10 (Reuters) - New Senior Investment Group Inc ::NEW SENIOR ANNOUNCES FIRST QUARTER 2018 RESULTS.Q1 ADJUSTED FFO PER SHARE $0.20.NEW SENIOR INVESTMENT - QTRLY TOTAL NOI OF $47.1 MILLION.QTRLY AFFO $0.20 PER BASIC AND DILUTED SHARE.NEW SENIOR INVESTMENT - QTRLY NORMALIZED FFO OF $17.6 MILLION, OR $0.21 PER SHARE.REVIEW OF STRATEGIC ALTERNATIVES IS ONGOING.QTRLY TOTAL SAME STORE CASH NOI DECREASED 1.0%.CO ENTERED INTO AGREEMENT TO TERMINATE ITS TRIPLE NET LEASES WITH AFFILIATES OF HOLIDAY RETIREMENT.NEW SENIOR INVESTMENT- IN EXCHANGE TERMINATION OF TRIPLE NET LEASES WITH AFFILIATES OF HOLIDAY RETIREMENT, CO WILL RECEIVE $116 MILLION.NEW SENIOR INVESTMENT - EXPECTS TO REFINANCE EXISTING DEBT WITH 1-YEAR $720 MILLION SECURED LOAN BEARING INTEREST AT LIBOR PLUS 4.0% FOR FIRST 6 MONTHS.NEW SENIOR - IN LIGHT OF STRATEGIC REVIEW, QTRLY DIVIDEND MAY BE LESS THAN DIVIDENDS DECLARED IN PRIOR QUARTERS, SUCH DIFFERENCE COULD BE MATERIAL.