Welcome to our dedicated page for Sonida Senior Living news (Ticker: SNDA), a resource for investors and traders seeking the latest updates and insights on Sonida Senior Living stock.
Sonida Senior Living, Inc. (NYSE: SNDA) generates frequent news as a Dallas-based owner, operator and investor in senior housing communities focused on independent living, assisted living and memory care for senior adults. News coverage on this page centers on the company’s operating performance, portfolio activity and capital markets developments, reflecting its role in the senior living and health care and social assistance sectors.
Investors and observers can expect earnings announcements and operating updates, where Sonida reports metrics such as resident revenue, occupancy, revenue per available unit (RevPAR), revenue per occupied unit (RevPOR), community net operating income (NOI) and Adjusted EBITDA. These releases often detail trends in same-store and acquisition portfolios, integration of newly acquired communities and changes in cash flows from operations.
Another major category of SNDA news involves acquisitions and portfolio expansion. Recent press releases describe the closing of senior housing community acquisitions in Texas, Florida and Georgia, as well as the expansion of a senior living campus in Cincinnati, Ohio. These items highlight Sonida’s inorganic growth strategy, including regional densification and investment in high-quality communities at discounts to replacement cost.
News items also cover strategic transactions and financing. A key development is Sonida’s definitive merger agreement to acquire CNL Healthcare Properties, Inc. in a cash and stock transaction valued at approximately $1.8 billion, which is expected, upon closing, to create a combined pure-play senior housing owner-operator platform. Additional releases describe credit facilities, term loans and bridge or permanent debt financing commitments that support the CHP transaction and broader corporate needs.
By following this SNDA news feed, readers can review company-issued press releases and related coverage that document Sonida’s senior housing operations, strategic merger activity, capital structure changes and ongoing portfolio evolution.
Sonida Senior Living (NYSE: SNDA) will release its Third Quarter 2022 earnings before the market opens on November 14, 2022. A conference call to discuss the earnings will occur on the same day at 1:30 p.m. Eastern Time, with a call-in number of 877-407-0989. The call will be recorded for replay until November 29, 2022. Sonida operates 72 communities across 18 states, providing care for approximately 7,800 residents and aims to facilitate comfortable aging for seniors.
Sonida Senior Living reported its Q2 2022 results, showing a 460 basis point increase in weighted average occupancy year-over-year. Resident revenue rose 11.6% to $52 million. Nonetheless, the company experienced a net loss of $8.5 million. Adjusted EBITDAR improved significantly by 1,370 basis points quarter-over-quarter, reaching $4.2 million, aided by a 41% reduction in contract labor costs. The NOI margin decreased slightly by 90 basis points to 20.6% amidst ongoing challenges from the COVID pandemic.
Sonida Senior Living (NYSE: SNDA) announced the resignation of CEO Kimberly Lody after eight years. Brandon Ribar, the former COO, has been promoted to CEO effective September 2, 2022. Lody leaves after leading a significant turnaround plan to stabilize the company, which included exiting unprofitable assets and a recapitalization in November 2021. The company operates 76 communities with a capacity for approximately 9,500 residents. Lody’s departure signals a transition in leadership as the company aims for further growth post-pandemic.
Sonida Senior Living (NYSE: SNDA) announced its Second Quarter 2022 earnings release scheduled before market opening on August 12, 2022. A conference call to discuss earnings will occur on the same day at 1:30 p.m. Eastern Time, accessible via phone at 877-407-0989. An online webcast will also be available. Sonida operates 76 communities across 18 states, with a capacity for approximately 9,500 residents, providing care for senior adults.
Sonida Senior Living (NYSE: SNDA) announces the appointment of Tim Cober as Chief Accounting Officer, effective July 1, 2022. Cober brings extensive experience from Spire Hospitality, where he was Vice President of Accounting. He succeeds Howard Garfield, whose last day is also July 1, 2022. Cober is recognized for his results-driven approach in accounting, overseeing cash management and financial audits. Sonida operates 76 senior living communities across 18 states, accommodating around 9,500 residents, focusing on personalized care and community living.
Sonida Senior Living (NYSE: SNDA) announced that 30 of its communities have received prestigious designations from U.S. News & World Report as Best Independent Living, Best Assisted Living, or Best Memory Care for 2022-23. The recognition reflects feedback from nearly 200,000 survey respondents, evaluating factors such as community amenities, dining, and care quality. Kimberly S. Lody, President and CEO, expressed pride in this achievement, emphasizing the importance of resident and family satisfaction. Sonida operates 76 communities across 18 states, catering to around 9,500 residents.
Sonida Senior Living, Inc. (SNDA) reported a net loss of $17.8 million for Q1 2022, a significant drop from a net income of $38.8 million in Q1 2021. This decline was influenced by a $47 million gain on extinguishment of debt and $8.7 million in CARES Act income received in 2021. Despite the loss, resident revenue rose by 12.5% to $50.8 million, driven by improved occupancy at 82.3%. The company also completed the acquisition of two communities for $12.3 million, enhancing its growth strategy.
Sonida Senior Living (NYSE: SNDA) will release its First Quarter 2022 earnings on May 23, 2022, before the market opens. A conference call to discuss these results is scheduled for the same day at 1:30 p.m. ET. The company has hired new financial leadership effective May 1, 2022, necessitating the filing of a Form 12b-25 for a late filing of its Quarterly Report on Form 10-Q for the quarter ending March 31, 2022. Sonida operates 76 communities nationwide, serving nearly 7,000 residents.
Sonida Senior Living (NYSE: SNDA) has appointed new members to its finance team, with Howard Garfield as Chief Accounting Officer and Debbie Milligan as Director of Financial Reporting, effective May 1, 2022. Garfield previously held senior finance roles at CorePoint Lodging and Monogram Residential Trust, while Milligan served as the Senior Director of Financial Reporting at CorePoint. The appointments aim to strengthen the company's financial expertise following a strategic capital raise in November, enhancing its operational capabilities to support growth.
Sonida Senior Living (NYSE: SNDA) reported its 2021 financial results, highlighting a strategic investment and rights offering that raised $154.8 million. The company showed a 5.3% increase in revenue per available unit (REVPAR) and improved occupancy rates, but overall resident revenue dropped significantly to $190.2 million from $357.1 million in 2020. The net income for 2021 was $125.6 million, rebounding from a $295.4 million loss in 2020, largely due to a gain on extinguishment of debt. The company concluded it can continue as a going concern following its refinancing efforts in March 2022.