NEW YORK: New Senior Investment Group Inc. is a REIT that owns 91 senior housing properties, primarily independent-living facilities with less health-care exposure, across 27 U.S. states. It spun off from another REIT, Newcastle Investment Corp., in November. Spin-Off Research uses trading values for peers in the REIT business to figure New Senior’s fair value at $25 a share, 46 per cent upside from Friday’s close of $17.16.
CareTrust REIT, with 97 properties ranging from assisted-living to hospice care, was spun off from Ensign Group in June.
Both spin-offs are currently evaluating potential acquisitions in Cananda and the UK…
This trend is covered in detail in the Seniors Housing Trends Monthly News