Sonida Senior Living, Inc. (SNDA)
NYSE:SNDA
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Sonida Senior Living
(NYSE:SNDA)
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Rating:50Neutral
Price Target:
$35.00
▲(0.95% Upside)
Action:Reiterated
Date:06/01/26
The score is held down primarily by weak financial performance (widening losses, negative cash flow, and leverage risk). Offsetting this, the latest earnings call indicates strong operational momentum and improving margins/occupancy, while technicals are mixed and valuation is constrained by continued losses and no dividend support.
Positive Factors
Scale and Portfolio Growth
The CHP acquisition materially increases scale and geographic diversification, creating a larger operating platform. Greater scale improves bargaining power, spreads fixed costs, supports accretive NOI roll‑up and gives management more options to optimize the portfolio and drive durable FFO growth.
Negative Factors
High Absolute Debt / Leverage
Substantial nominal debt increases interest expense sensitivity and reduces financial flexibility. Even with improved ratios, high absolute leverage constrains capital allocation, raises refinancing risk if cash generation falters, and amplifies downside if operating improvements slow.
Read all positive and negative factors
Positive Factors
Negative Factors
Scale and Portfolio Growth
The CHP acquisition materially increases scale and geographic diversification, creating a larger operating platform. Greater scale improves bargaining power, spreads fixed costs, supports accretive NOI roll‑up and gives management more options to optimize the portfolio and drive durable FFO growth.
Read all positive factors
Sonida Senior Living (SNDA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.57B
Dividend YieldN/A
Average Volume (3M)57.79K
Price to Earnings (P/E)―
Beta (1Y)0.69
Revenue Growth25.25%
EPS Growth-96.16%
CountryUS
Employees3,415
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-5.83
Shares Outstanding47,346,256
10 Day Avg. Volume56,486
30 Day Avg. Volume57,792
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)11.51
Price to Sales (P/S)1.55
P/FCF Ratio-66.12
Enterprise Value/Market Cap1.43
Enterprise Value/Revenue5.45
Enterprise Value/Gross Profit-18.24
Enterprise Value/Ebitda448.74
Forecast
1Y Price Target
$39.00Price Target Upside12.49% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)-3.9
Revenue Forecast (FY)$519.17M
Sonida Senior Living Business Overview & Revenue Model
Company Description
Sonida Senior Living, Inc. develops, owns, operates, and manages senior housing communities in the United States. The company provides independent living services, which include daily meals, transportation, social and recreational activities, laun...
How the Company Makes Money
Sonida primarily makes money by operating senior living communities and charging residents recurring monthly fees. The core revenue stream is resident service revenue, which typically includes (i) rent or accommodation charges for a unit, (ii) bun...
Sonida Senior Living Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 17, 2026
Earnings Call Sentiment Positive
The call communicated a strongly positive operational and financial trajectory driven by meaningful same-store occupancy and pricing gains, double-digit NOI growth, margin expansion, successful initial integration activity and an improving capital structure. Management acknowledged near-term dilution from acquired and transitioning communities, preliminary nature of pro forma reporting, an outstanding bridge loan to refinance and ongoing investment needs for technology and integration. Overall, the positive execution on core operating metrics, clear capital allocation framework, successful early integration steps and strengthened liquidity/financing outweigh the execution and timing risks noted.Positive Updates
CHP Acquisition Completed and Pro Forma Reporting
Completed acquisition of CNL Healthcare Properties (CHP) on March 11, 2026; company reporting pro forma combined results (full-quarter CHP) for clarity on performance and integration, with integration underway and initial transitions executed.
Negative Updates
Pro Forma Metrics Preliminary and GAAP Timing Differences
Pro forma metrics (full-quarter CHP) are preliminary and subject to change; GAAP financials only include CHP results from closing date, creating potential near-term reporting volatility and reconciliation risk.
Read all updates
Q1-2026 Updates
Positive
Negative
CHP Acquisition Completed and Pro Forma Reporting
Completed acquisition of CNL Healthcare Properties (CHP) on March 11, 2026; company reporting pro forma combined results (full-quarter CHP) for clarity on performance and integration, with integration underway and initial transitions executed.
Read all positive updates
Company Guidance
Sonida guided that, on a pro forma basis (full-quarter CHP), Same‑Store performance should continue improving after Q1: Same‑Store occupancy rose 220 bps to 87.2% with RevPOR +5% and Same‑Store resident revenue +7.6%, producing Same‑Store NOI of $48.0M and NOI margin expansion of 170 bps to 31.2%; total SHOP occupancy was 85.7% (+100 bps), total SHOP RevPOR +4.9%, total resident revenue +8.5% and community NOI $51.3M (total NOI margin +70 bps), while communities >90% occupancy increased to 52% (from 39%) and those <80% fell to 20% (from 28%). Management expects to capture synergies as integrations proceed (first 6 communities transitioned, 11 more planned this summer), to internalize most third‑party management (reducing ~5% management fees materially below that level), to pursue dispositions of ~10% of communities (representing substantially less than 10% of current NOI) primarily in 3Q–4Q, and to refinance the $170M bridge with mortgage debt by end‑Q2/early‑Q3. Balance‑sheet and capital targets include two term loans totaling $550M at SOFR+195 bps (step‑down to SOFR+130 bps), a secured revolver commitment of $455M post‑quarter with >$100M available and cash slightly above $50M as of Apr 30, $1.2B of committed bank facilities after a $50M upsizing, and a targeted leverage range of 6.0–6.5x (mid‑6x near term) with a longer‑term goal below that; operating metrics supporting guidance include the 2024 acquisition cohort running at an 11.5% yield on cost (annualized vs. a 10%+ underwriting), average resident lease renewal rate 6.5%, labor costs down ~100 bps of revenue, and a 320‑bp expansion in the RevPOR‑to‑EXPOR spread, all underpinning management’s expectation of continued NOI and margin improvement into 2026.Sonida Senior Living Financial Statement Overview
Summary
Income Statement
33
Negative
Balance Sheet
30
Negative
Cash Flow
26
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 411.85M | 381.14M | 304.33M | 255.32M | 238.43M | 234.72M |
| Gross Profit | -123.06M | -30.37M | 271.23M | 234.22M | 211.06M | 193.82M |
| EBITDA | 5.00M | 23.24M | 78.00M | 55.15M | 17.16M | 201.29M |
| Net Income | -99.48M | -70.78M | -2.06M | -21.11M | -54.40M | 125.61M |
Balance Sheet | ||||||
| Total Assets | 2.63B | 844.85M | 841.92M | 621.46M | 661.27M | 728.55M |
| Cash, Cash Equivalents and Short-Term Investments | 84.28M | 11.01M | 16.99M | 4.08M | 16.91M | 78.69M |
| Total Debt | 1.62B | 689.74M | 651.39M | 629.42M | 671.03M | 683.68M |
| Total Liabilities | 1.74B | 788.59M | 712.31M | 688.01M | 719.43M | 734.11M |
| Stockholders Equity | 884.86M | 51.24M | 123.03M | -66.55M | -58.16M | -5.56M |
Cash Flow | ||||||
| Free Cash Flow | -47.05M | -8.92M | -26.95M | -7.25M | -27.14M | -39.24M |
| Operating Cash Flow | -15.35M | 24.36M | -1.78M | 10.68M | -2.58M | -28.80M |
| Investing Cash Flow | -986.08M | -70.69M | -208.92M | -16.56M | -36.90M | -10.44M |
| Financing Cash Flow | 1.07B | 37.51M | 232.04M | -7.11M | -22.65M | 99.42M |
Sonida Senior Living Technical Analysis
Negative
34.67
Price Trends
35.17
Negative
34.49
Negative
31.67
Positive
Market Momentum
-0.62
Positive
37.19
Neutral
13.94
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SNDA, the sentiment is Negative. The current price of 34.67 is below the 20-day moving average (MA) of 36.40, below the 50-day MA of 35.17, and above the 200-day MA of 31.67, indicating a neutral trend. The MACD of -0.62 indicates Positive momentum. The RSI at 37.19 is Neutral, neither overbought nor oversold. The STOCH value of 13.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SNDA.
Sonida Senior Living Risk Analysis
Sonida Senior Living disclosed 36 risk factors in its most recent earnings report. Sonida Senior Living reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Sonida Senior Living Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $2.94B | 24.15 | 11.68% | 1.80% | 11.40% | 13.96% | |
71 Outperform | $1.05B | 36.32 | 9.23% | ― | 36.76% | 11.22% | |
60 Neutral | $426.47M | -4.21 | -27.10% | ― | -20.37% | -479.68% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $1.57B | -6.26 | -35.37% | ― | 25.25% | -96.16% | |
47 Neutral | $2.84B | -14.36 | 9999.00% | ― | -0.36% | 16.69% | |
43 Neutral | $393.16M | -4.17 | 5.89% | ― | -2.87% | ― |
* Healthcare Sector Average
SNDA
Sonida Senior Living
34.38
9.02
35.57%
BKD
Brookdale Senior Living
12.34
5.66
84.73%
CYH
Community Health
2.74
-1.17
-29.92%
CCRN
Cross Country Healthcare
13.18
0.27
2.09%
NHC
National Healthcare
192.13
88.11
84.70%
PNTG
Pennant Group
31.71
2.16
7.31%
Sonida Senior Living Corporate Events
Business Operations and StrategyExecutive/Board Changes
Sonida Senior Living Appoints New Chief Operating Officer
Positive
Jun 1, 2026
On June 1, 2026, Sonida Senior Living’s board appointed veteran hospitality executive Anton Nikodemus as executive vice president and chief operating officer, effective June 15, 2026, creating a new C-suite role to oversee end-to-end operati...
Business Operations and StrategyPrivate Placements and Financing
Sonida Senior Living Announces $250 Million ATM Program
Positive
May 18, 2026
On May 18, 2026, Sonida Senior Living, Inc. launched a $250 million at-the-market equity offering program through an equity distribution agreement with a syndicate of major banks acting as sales agents, principals and forward counterparties. The c...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and FinancingRegulatory Filings and Compliance
Sonida Senior Living Ends Mizuho At-The-Market Program
Neutral
May 13, 2026
On May 8, 2026, Sonida Senior Living notified Mizuho Securities USA that it was terminating their at-the-market equity issuance sales agreement, effective May 13, 2026, and confirmed that no early termination penalties would be incurred, leaving i...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Sonida Senior Living Closes CNL Acquisition, Reports Q1
Positive
May 11, 2026
Sonida Senior Living reported first-quarter 2026 results on May 11, 2026, highlighting the completion of its March 11, 2026 acquisition of CNL Healthcare Properties, a $1.8 billion stock-and-cash deal that added 69 senior housing communities and m...
Executive/Board ChangesRegulatory Filings and Compliance
Sonida Senior Living Announces Board Changes and Appointment
Neutral
Apr 22, 2026
On April 16, 2026, Sonida Senior Living said independent director Shmuel S.Z. Lieberman notified the board that he would resign effective April 27, 2026, with the company noting there was no disagreement over its operations, policies or practices....
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Sonida Senior Living Simplifies Capital Structure After Conversion
Positive
Mar 12, 2026
On March 11, 2026, Sonida Senior Living, Inc. entered into a Preferred Stock Conversion and Warrant Extension Agreement with affiliates of Conversant Capital to induce the immediate conversion of all 41,250 outstanding shares of its Series A Conve...
Business Operations and StrategyExecutive/Board ChangesM&A TransactionsPrivate Placements and Financing
Sonida Senior Living Completes Transformative Merger with CHP
Positive
Mar 11, 2026
On March 11, 2026, Sonida Senior Living closed its approximately $1.8 billion cash-and-stock merger with CNL Healthcare Properties, acquiring 100% of CHP and creating a $3.3 billion senior housing owner-operator with an expanded footprint across t...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Sonida Senior Living Closes Transformative CNL Healthcare Acquisition
Positive
Mar 11, 2026
On March 11, 2026, Sonida Senior Living reported its fourth-quarter and full-year 2025 results, highlighting an 11.9% year-over-year increase in Q4 resident revenue to $86.3 million and a 90-basis-point rise in same-store occupancy to 87.9%. Despi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.