Sonida Senior Living, Inc. (SNDA)
NYSE:SNDA
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Sonida Senior Living
(NYSE:SNDA)
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Rating:53Neutral
Price Target:
$34.00
▲(3.72% Upside)
Action:ReiteratedDate:03/12/26
The score is held back primarily by weak profitability and a high-risk balance sheet despite strong revenue growth and improving operating cash flow. Offsetting this, the latest earnings call points to improving operations, synergies, and stronger liquidity, while technical signals are mixed and valuation remains challenging due to losses.
Positive Factors
Scale via CHP acquisition
The CHP acquisition materially expands scale and geographic diversification, creating a larger platform with 153 communities and greater negotiating power for payors and vendors. Scale supports long-term margin improvement, operational leverage, and faster realization of G&A synergies versus small standalone growth paths.
Negative Factors
High leverage / weak equity
Material leverage with negligible equity weakens the balance sheet cushion and raises refinancing, covenant and solvency risk. Limited equity reduces ability to absorb shocks, increases reliance on external financing or asset sales, and constrains strategic optionality during downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Scale via CHP acquisition
The CHP acquisition materially expands scale and geographic diversification, creating a larger platform with 153 communities and greater negotiating power for payors and vendors. Scale supports long-term margin improvement, operational leverage, and faster realization of G&A synergies versus small standalone growth paths.
Read all positive factors
Sonida Senior Living (SNDA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.55B
Dividend YieldN/A
Average Volume (3M)57.79K
Price to Earnings (P/E)―
Beta (1Y)0.68
Revenue Growth34.99%
EPS Growth-68.73%
CountryUS
Employees3,415
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-1.72
Shares Outstanding47,388,042
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 Cap0.82
Enterprise Value/Revenue3.34
Enterprise Value/Gross Profit-41.87
Enterprise Value/Ebitda54.72
Forecast
1Y Price Target
$35.00Price Target Upside6.77% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-5.09
Revenue Forecast (FY)$755.42M
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 Senior Living generates revenue primarily through the leasing and management of its senior living facilities. The company charges residents monthly fees that cover rent, meals, healthcare services, and various amenities. Key revenue streams...
Sonida Senior Living Earnings Call Summary
Earnings Call Date:Mar 11, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The call conveyed strong positive operational and financial momentum—including a completed $1.8B acquisition with broad shareholder support, double-digit NOI and EBITDA growth, meaningful REVPOR and rate increases, acquisition cohort outperformance, labor and G&A improvements, and enhanced liquidity/capital structure. The company also acknowledged transitional challenges: lower starting occupancy and margins on acquired assets, a plan to prune ~10% of lower‑earning communities, ongoing labor optimization, and pending normalized FFO disclosure. Overall, the highlights (growth, margin expansion, successful merger execution, and capital improvements) materially outweigh the manageable execution and reporting risks.Positive Updates
Completed CHP Acquisition
Closed acquisition of CNL Healthcare Properties (CHP) for $1.8 billion with >95% shareholder support; accretive asymmetrical collar resulted in ~8 million fewer shares issued than expected and CHP shareholders received $7.22 total consideration (vs. $6.90 if in-collar). Transaction expected to enhance scale, liquidity, balance sheet strength and earnings accretion.
Negative Updates
Lower Starting Occupancy and Margin from Acquisitions
Acquisitions entered with below-average starting occupancy and margins, which unfavorably impacted overall portfolio occupancy and margin percentages despite strong improvement in the cohorts post-acquisition.
Read all updates
Q4-2025 Updates
Positive
Negative
Completed CHP Acquisition
Closed acquisition of CNL Healthcare Properties (CHP) for $1.8 billion with >95% shareholder support; accretive asymmetrical collar resulted in ~8 million fewer shares issued than expected and CHP shareholders received $7.22 total consideration (vs. $6.90 if in-collar). Transaction expected to enhance scale, liquidity, balance sheet strength and earnings accretion.
Read all positive updates
Company Guidance
The company’s guidance signals continued top-line and margin improvement into 2026, with a target for revenue per occupied room growth at or above 2025 same-store results and an expectation of continued occupancy and NOI expansion after FY2025 results that showed NOI up >22% and adjusted EBITDA at share up 28%; Q4 REVPOR rose 5.9% year‑over‑year and full‑year REVPOR grew 8.8%. Management pointed to strong acquisition performance (the 19 communities from 2024 saw sequential occupancy improve 290 bps Q3→Q4 and 820 bps YoY, revenue +22% and NOI margin expansion—Brandon cited 21%→28% while Kevin reported a 550 bps gain to 24.7% from 19.2%), a pro forma same‑store NOI growth of 16.2% with a pro forma NOI margin of 27.8% and an objective to exceed a 30% NOI margin, same‑store occupancy up 20 bps sequentially, March 1 rent renewals averaging 7.9% (covering 96% of residents) vs 6.8% a year ago, and level‑of‑care revenues +11.4% in 2025. On costs and capital, labor excluding benefits was down 40 bps QoQ with hours per occupancy down 2% and non‑labor expense down ~$200k QoQ, the company expects initial G&A run‑rate synergies of $16–$20 million (with more upside identified), plans to prune ~10% of communities (representing materially less than 10% of NOI) to delever and recycle capital, is targeting net leverage of 6.0x–6.5x, has two term loans totaling $525M at S+195bps (can step to S+130bps), an upsized $405M revolver with a $320M accordion (total bank capacity ~$1.25B), converted a $51.25M Series A (11% coupon) into common at $32/sh to save >$5M annually, and closed the $1.8B CHP acquisition (>-95% shareholder approval) with CHP holders receiving $7.22 in total consideration.Sonida Senior Living Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
22
Negative
Cash Flow
33
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 381.14M | 304.33M | 255.32M | 238.43M | 234.72M |
| Gross Profit | -30.37M | 271.23M | 234.22M | 211.06M | 193.82M |
| EBITDA | 23.24M | 78.00M | 55.15M | 17.16M | 201.29M |
| Net Income | -70.78M | -2.06M | -21.11M | -54.40M | 125.61M |
Balance Sheet | |||||
| Total Assets | 844.85M | 841.92M | 621.46M | 661.27M | 728.55M |
| Cash, Cash Equivalents and Short-Term Investments | 11.01M | 16.99M | 4.08M | 16.91M | 78.69M |
| Total Debt | 689.74M | 651.39M | 629.42M | 671.03M | 683.68M |
| Total Liabilities | 788.59M | 712.31M | 688.01M | 719.43M | 734.11M |
| Stockholders Equity | 51.24M | 123.03M | -66.55M | -58.16M | -5.56M |
Cash Flow | |||||
| Free Cash Flow | -8.92M | -26.95M | -7.25M | -27.14M | -39.24M |
| Operating Cash Flow | 24.36M | -1.78M | 10.68M | -2.58M | -28.80M |
| Investing Cash Flow | -70.69M | -208.92M | -16.56M | -36.90M | -10.44M |
| Financing Cash Flow | 37.51M | 232.04M | -7.11M | -22.65M | 99.42M |
Sonida Senior Living Technical Analysis
Positive
32.78
Price Trends
33.84
Negative
32.86
Negative
29.45
Positive
Market Momentum
-0.64
Negative
47.60
Neutral
68.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SNDA, the sentiment is Positive. The current price of 32.78 is below the 20-day moving average (MA) of 32.93, below the 50-day MA of 33.84, and above the 200-day MA of 29.45, indicating a neutral trend. The MACD of -0.64 indicates Negative momentum. The RSI at 47.60 is Neutral, neither overbought nor oversold. The STOCH value of 68.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | $2.68B | 17.67 | 11.57% | 1.80% | 23.74% | -18.99% | |
72 Outperform | $1.07B | 28.23 | 9.31% | ― | 29.89% | 10.33% | |
56 Neutral | $429.74M | 0.82 | -31.57% | ― | 0.74% | ― | |
54 Neutral | $309.29M | -2.77 | -24.30% | ― | -22.14% | -787.87% | |
53 Neutral | $1.55B | -8.33 | -80.84% | ― | 34.99% | -68.73% | |
53 Neutral | $3.36B | -9.62 | -523.78% | ― | 3.93% | -42.22% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
SNDA
Sonida Senior Living
32.78
10.99
50.44%
BKD
Brookdale Senior Living
14.12
8.23
139.73%
CYH
Community Health
3.10
0.49
18.77%
CCRN
Cross Country Healthcare
9.57
-5.03
-34.45%
NHC
National Healthcare
172.37
80.56
87.75%
PNTG
Pennant Group
31.01
5.82
23.10%
Sonida Senior Living Corporate Events
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...
Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingShareholder Meetings
Sonida Senior Living Shareholders Approve Share Increase, Governance Changes
Positive
Feb 26, 2026
On February 26, 2026, Sonida Senior Living held a special stockholders’ meeting at which investors approved an increase in authorized common shares from 30 million to 100 million and backed the issuance of new stock tied to a merger with CHP...
Business Operations and StrategyExecutive/Board ChangesM&A Transactions
Sonida Senior Living Grants PSUs Tied to Pending Merger
Positive
Feb 23, 2026
On February 23, 2026, Sonida Senior Living’s board compensation committee approved grants of performance stock units to key employees, including the CEO and CFO, under its 2019 Omnibus Stock and Incentive Plan. The awards are contingent on s...
Legal ProceedingsM&A TransactionsRegulatory Filings and ComplianceShareholder Meetings
Sonida Senior Living Issues Supplemental Disclosures on CNL Merger
Neutral
Feb 13, 2026
On November 4, 2025, Sonida Senior Living and CNL Healthcare Properties signed a merger agreement, and on January 6, 2026 Sonida filed a definitive joint proxy statement for a February 26, 2026 virtual special meeting of shareholders to vote on th...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Sonida Senior Living Secures Expanded Credit Facilities for Acquisition
Positive
Jan 5, 2026
On December 29, 2025, Sonida Senior Living, Inc. entered into an amended and restated credit agreement with a syndicate of lenders led by BMO Bank, N.A., replacing its July 24, 2024 facility with a significantly larger, multi-tranche structure tie...
Shareholder Meetings
Sonida Senior Living Updates Bylaws for Stockholder Meetings
Neutral
Dec 16, 2025
On December 10, 2025, Sonida Senior Living‘s board of directors approved a Third Amendment to its Bylaws, effective immediately. This amendment incorporates procedures for advance notice of stockholder nominations and other business for stoc...
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.