DALLAS - Sonida Senior Living, Inc. (NYSE: SNDA), a company specializing in senior community operations, has announced the appointment of Max Levy as its Chief Investment Officer (CIO), a new position within the company. Concurrently, the firm has welcomed Lilly H. Donohue to its Board of Directors.
Max Levy, previously a Principal at Conversant Capital, Sonida's largest shareholder, will assume his new duties on June 1, 2024. He brings a wealth of M&A and senior living underwriting experience to the table, which will be instrumental in managing Sonida's investment strategy. The strategy includes new balance sheet acquisitions and joint ventures aimed at enhancing the company's portfolio through densification, thereby improving operating scale and efficiencies. Levy, who has been a Director at Sonida since 2021, will step down from the Board to take on his new role.
Brandon Ribar, President and CEO of Sonida, expressed confidence in Levy's abilities, citing his extensive investment management background and capital markets expertise. Michael Simanovsky, Founder and Managing Partner of Conversant, echoed this sentiment, highlighting Levy's suitability for leading Sonida's growth initiatives.
Lilly H. Donohue, the new board member, is currently the President and CEO of Everstory Partners and has substantial experience leading senior living organizations, including Holiday Retirement. She is recognized for her executive leadership and has significantly contributed to the industry's development, both in the United States and China.
The appointments are part of Sonida's ongoing efforts to enhance its board's skill set and diversity to effectively oversee the company's business and long-term strategy. Following these changes, the Board will consist of nine directors, including a new Conversant Capital appointed director replacing Max Levy.
InvestingPro Insights
As Sonida Senior Living, Inc. (NYSE: SNDA) welcomes Max Levy as its Chief Investment Officer and Lilly H. Donohue to its Board of Directors, the company's financial health and strategic growth prospects become a focal point for investors. With a market capitalization of $433.22 million, Sonida's financials reflect a company in a transformative phase. Despite not being profitable over the last twelve months, the company has seen a notable revenue growth of 10.97% over the same period. The firm's commitment to expanding its portfolio and improving operating efficiencies under Levy's leadership is particularly relevant considering the company's significant debt burden, as highlighted by an InvestingPro Tip.
Investors should note that Sonida's stock price movements have been quite volatile, as another InvestingPro Tip indicates. This volatility is exemplified by the company's impressive one-year price total return of 404.43%, and the fact that it's trading near its 52-week high, at 95.74% of this peak. The company's share price, which closed at $32.99, reflects strong recent performance, with a substantial return over the last three months of 179.91%.
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