New Senior Investment Group Inc. (SNR)

[Enterprising Investor]

New Senior Announces Authorization of Share Repurchase Program (12/02/15)

NEW YORK--(BUSINESS WIRE)--New Senior Investment Group Inc. (“New Senior” or the “Company”) (NYSE: SNR) announced today that the Company's Board of Directors authorized the repurchase of up to $100 million of the Company's common stock over the next 12 months. Under the program, the Company may purchase its shares from time to time in the open market or in privately negotiated transactions. The amount and timing of the purchases will depend on a number of factors including the price and availability of the Company's shares, trading volume, capital availability, Company performance and general economic and market conditions. The Company may also from time to time establish a trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934 to facilitate purchases of its shares under this authorization. The stock repurchase program may be suspended or discontinued at any time.

“We are pleased that our Board of Directors has authorized a share repurchase program,” New Senior Chief Executive Officer Susan Givens said. “We view our current valuation as a significant discount to the underlying value of our unique and hard-to-replicate portfolio of private pay senior housing properties. Our team is focused on enhancing shareholder value, and we believe that, given current market conditions, buying back shares of our common stock represents an attractive investment.”

ABOUT NEW SENIOR

New Senior is a real estate investment trust focused on investing in senior housing properties across the United States. The Company is the only pure play senior housing REIT and is one of the largest owners of senior housing properties. Currently, New Senior owns 154 properties located across 37 states. New Senior is managed by an affiliate of Fortress Investment Group LLC, a global investment management firm. More information about New Senior can be found at www.newseniorinv.com.

http://www.businesswire.com/news/home/20151201005566/en/Senior-Announces-Authorization-Share-Repurchase-Program