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Sonida Senior Living
(NYSE:SNDA)
Sonida Senior Living (SNDA) vs. SPDR S&P 500 ETF (SPY)
Sonida Senior Living Business Overview & Revenue Model
Sonida Senior Living Earnings Call Summary
Sonida Senior Living Financial Statement Overview
| 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 | 0.00 | 271.23M | 234.22M | 211.06M | 193.82M |
| EBITDA | -58.61M | 78.00M | 55.15M | 17.16M | 201.29M |
| Net Income | -76.42M | -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 | -11.00K | 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
Sonida Senior Living Risk Analysis
Sonida Senior Living Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $2.43B | 17.67 | 9.94% | 1.80% | 23.74% | -18.99% | |
72 Outperform | $1.18B | 28.23 | 10.87% | ― | 29.89% | 10.33% | |
60 Neutral | $446.37M | 0.82 | -31.57% | ― | 0.74% | ― | |
58 Neutral | $3.45B | -9.62 | -214.33% | ― | 3.93% | -42.22% | |
55 Neutral | $316.08M | -2.77 | -24.30% | ― | -22.14% | -787.87% | |
53 Neutral | $632.54M | -7.72 | -44.33% | ― | 34.99% | -68.73% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
Sonida Senior Living Corporate Events
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 Convertible Preferred Stock. The deal reduced the conversion price from $40.00 to $32.00 per common share, extended the expiration of 1,031,250 warrants from November 3, 2026 to November 3, 2027, and included a one-time payment of about $5.8 million, leading to the issuance of 1,601,505 common shares upon full conversion on March 11, 2026.
A special committee of independent directors determined the transaction was in the best interests of the company and its stockholders and that its terms were at least as favorable as could be obtained from third parties. Following the conversion, Sonida amended the certificate of designation to reflect the lower conversion price, eliminated both its Series A Junior Participating Preferred Stock and Series A Convertible Preferred Stock classes, and filed a Second Restated Certificate of Incorporation in Delaware, simplifying its capital structure and consolidating prior charter amendments without substantive changes.
The most recent analyst rating on (SNDA) stock is a Hold with a $38.00 price target. To see the full list of analyst forecasts on Sonida Senior Living stock, see the SNDA Stock Forecast page.
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 the South, Southeast, Midwest, Mountain West, Pacific Northwest and Mid-Atlantic. CHP shareholders received $7.22 per share based on $2.32 in cash and 0.1318 Sonida shares, leaving legacy Sonida investors with about 50% of the combined company and positioning the transaction as roughly 62% accretive to normalized FFO per share on a run-rate basis.
To fund the acquisition and refinance existing obligations, Sonida put in place $930 million of permanent debt facilities with an accordion feature up to $1.25 billion, including upsized revolving and term loan structures, and also drew $270 million on a 364-day bridge loan arranged by Royal Bank of Canada and BMO. The deal was supported by additional equity financing from Conversant and Silk, board and committee reshuffling to reflect new major shareholders, and new indemnification and governance arrangements, all aimed at deleveraging the balance sheet, enhancing liquidity and capital access, and supporting continued acquisitive growth in senior housing.
The most recent analyst rating on (SNDA) stock is a Hold with a $34.00 price target. To see the full list of analyst forecasts on Sonida Senior Living stock, see the SNDA Stock Forecast page.
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%. Despite a wider Q4 net loss of $29.8 million due to merger-related and restructuring costs and impairments, the company posted 24.5% growth in Adjusted EBITDA to $53.8 million for 2025 and a $26.2 million year-over-year improvement in operating cash flow, supported by steady gains in RevPAR, RevPOR and community NOI margins.
Also on March 11, 2026, Sonida closed its $1.8 billion acquisition of CNL Healthcare Properties, adding 69 senior housing communities and making it the eighth-largest senior housing owner in the U.S., while arranging extensive new financing including a $405 million revolving credit facility, $525 million in term loans, and a $270 million bridge loan to fund the deal. The transaction, together with a $110 million private placement from major shareholders, is expected to be immediately accretive to normalized FFO per share and to materially reshape Sonida’s 2026 results by expanding its portfolio to 153 communities and reinforcing its scale and competitive position in the senior housing sector.
The most recent analyst rating on (SNDA) stock is a Hold with a $34.00 price target. To see the full list of analyst forecasts on Sonida Senior Living stock, see the SNDA Stock Forecast page.
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 and a private placement to affiliates of major investors Conversant Capital and Silk Partners. Stockholders also adopted charter amendments formalizing advance-notice procedures for director nominations and shareholder business, and tightening limitations on director and officer indemnification and expense advancement, changes that solidify governance frameworks and enable the company to execute planned equity and M&A transactions with a strong voting mandate.
The meeting drew approximately 91% of eligible voting power, and all principal proposals—including the share increase, stock issuance, advance-notice, and indemnification changes—received clear majority or supermajority support, while the contingent adjournment item was not needed. These approvals expand Sonida’s capacity to issue equity for strategic deals and capital raising, while updating governance to balance shareholder rights with customary protections for leadership, reinforcing the company’s ability to pursue its transaction agenda under clarified corporate rules.
The most recent analyst rating on (SNDA) stock is a Hold with a $34.00 price target. To see the full list of analyst forecasts on Sonida Senior Living stock, see the SNDA Stock Forecast page.
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 shareholder approval of an increase in the plan’s share reserve and the completion of a planned merger with CNL Healthcare Properties, with forfeiture if either condition is not met.
The PSUs vest over a performance period starting one year after the grant date and ending four years after, based on achieving escalating stock price hurdles tied to significant premiums over the merger reference price. The structure, which includes specific treatment upon change in control, termination, death, or disability, is designed to align executive incentives with substantial share price appreciation and successful execution of the pending business combination, potentially affecting management compensation and shareholder value dynamics.
The most recent analyst rating on (SNDA) stock is a Hold with a $34.00 price target. To see the full list of analyst forecasts on Sonida Senior Living stock, see the SNDA Stock Forecast page.
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 the transaction. Following that filing, two stockholder lawsuits in New York and several demand letters alleged that Sonida’s proxy materials omitted material information about the merger, prompting the company and CNL to issue supplemental disclosures while denying any wrongdoing.
To reduce litigation risk and avoid delays to closing, Sonida voluntarily enhanced its proxy disclosures, including more detail on confidentiality agreements, financial advisor valuation methodologies, fee relationships and long-range financial projections for standalone Sonida, such as EBITDA, cash flow and projected net operating loss utilization. The company emphasized that these additions do not change the merger consideration or the timing of the shareholder vote, and its board continues to recommend that investors vote in favor of the transaction.
The most recent analyst rating on (SNDA) stock is a Hold with a $34.00 price target. To see the full list of analyst forecasts on Sonida Senior Living stock, see the SNDA Stock Forecast page.
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 tied to the planned acquisition of CNL Healthcare Properties, Inc. The new agreement provides two term loan facilities totaling $525 million with three- and five-year maturities and a $375 million revolving credit facility with a four-year maturity and a one-year extension option, all bearing interest at variable rates linked to Term SOFR or a base rate, with margins dependent on Sonida’s leverage ratio. The facilities are secured by first-priority pledges of equity in borrowing-base property-owning entities and guaranteed by existing guarantor subsidiaries and designated CHP subsidiaries, subject to release of certain pledges after 12 months and covenant compliance. The loans are non-amortizing, allow prepayment without penalty, and are subject to comprehensive financial and operational covenants, including leverage, coverage, tangible net worth, borrowing-base, and dividend limitations. The lenders’ obligation to fund under the new credit agreement, and the effectiveness of the amended covenant package, remain contingent on the concurrent closing of the CHP acquisition and other customary conditions; if those are not met by the commitment termination date, Sonida’s prior credit agreement will remain in place.
The most recent analyst rating on (SNDA) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on Sonida Senior Living stock, see the SNDA Stock Forecast page.
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 stockholder meetings, aligning with the company’s Certificate of Incorporation.
The most recent analyst rating on (SNDA) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on Sonida Senior Living stock, see the SNDA Stock Forecast page.