Sonida Senior Living Sees Path to 90% Occupancy, More Growth Opportunities Ahead

Sonida Senior Living (NYSE: SNDA) achieved its highest occupancy rate in history in the second quarter of this year, signaling better operational results and setting the stage for further growth. The company’s average occupancy now stands at 87.9%, up 220 basis points from the same period last year. With a focus on reaching 90% occupancy, Sonida is strategically addressing underperforming communities to elevate its portfolio. CEO Brandon Ribar highlighted the company’s potential for margin expansion and growth through acquisitions or joint ventures. Despite reporting a net loss of $9.8 million in the second quarter, Sonida’s stock price saw an increase to $29.14 per share. Moving forward, Sonida plans to continue its ‘simple and concentrated’ growth strategy, including investing in leadership, technology, and community-based capital expenses. The company remains focused on creating positive cash flow, improving operations, and identifying new acquisition opportunities. With recent expansions in its memory care program and acquisitions of high-quality communities, Sonida is positioning itself for continued success in the senior living market.