Sienna Senior Living Inc (SIA.TO) Buy, Sell…

Sienna Senior Living Inc (SIA.TO)

19.83

+0.47 (2.43%)

as of Oct 15, 2026, 2:05:20 pm Market Open.

306 watching

BUY ON WEAKNESS

Re-rating of seniors REITs. Prefers Chartwell. SIA dividend is good, payout ratio should start looking better. Low valuation. You can buy both on weakness.

TOP PICK

They took a credibility hit after the Canadian army named them for several infractions at some retirement homes during the spring lockdown (some seniors died of Covid in Sienna home). They since made major management changes to beef up staff. The dividend is sustainable. The cost of operating these seniors' facililities has risen, though the government is covering a part of this cost and is thinking of helping to further fund home upgrades. (Analysts’ price target is $14.02)

DON'T BUY

She is very cautious seniors housing. Sienna is 44% retirement living and 56% long-term care. They've had very negative press, with a few homes needing army help. They face lawsuits. They're paying elevated costs to manage COVID, like hiring new advisors to fix their problems and conduct an internal review. They've suffered occupancy declines. A lot of noise in this stock. Sienna stock is cheap now, but it's too early to enter it. Sienna will not escape blame from the current government review.

BUY

Chartwell vs. Sienna A tough call. He owns both. Loves their yields and their valuations have plunged. Nursing homes remain a growth area. Sienna has more problems than Chartwell--Sienna was faulted in the Canadian army report about seniors' deaths in their homes. Chartwell is the stronger play, due to fewer cases in their homes. Both are hamstrung now, because they can't offer tours to prospective clients or allow visitors. This will effect occupancy rates in the short term. (His mother is in a retirement home.)

COMMENT

SIA-T vs. CSH.UN-T. It was sad what the pandemic has done in the long term care sector. Sienna has had to make some difficult management changes. This is an important needs-based sector in Canada. In Ontario the government has to look how they can properly fund that business. With question marks on the horizon, he would focus on CSH.UN-T because it does not depend on government finding as much. They have done a phenomenal job during the pandemic.

BUY

The whole industry is in the doghouse, because Covid attacks older people. Sienna followed all government regulations. Government needs to step up its standards and provide much more funding. He feels SIA is a good operator of retirement homes. Their dividend is safe. Aging demographics will feed demand in coming years. SIA pays over a 9% dividend yield that is sustainable. SIA is grossly undervalued. [Question: The CEO stepped down, the Canadian Army slammed Sienna in a report, there have been deaths by dehydration and malnutrition, hospitals have taken over three of its homes, and there's a lawsuit. So, aren't you downplaying the problems at Sienna?] Some of these are allegations need to be proven; retirement homes were particularly vulnerable to Covid; government regulations need to be beefed up; and ad luck may have been at play. He feels SIA handled most situations well, apart from a few exceptions--and this applies to the entire industry. (Analysts’ price target is $15.63)

COMMENT

People are now fishing for companies that were the most beaten up -- like airlines, etc. The long term thesis is still good for this space, but he sees other ways to play this. He would favour CSH.UN instead.

HOLD

The retirement living space has been going through massive challenges in terms of COVID. You would have wanted to be in this sector before COVID due to demographics. It is safe to say that regulations will tighten in the space and it may be hard to maintain capital to fund them to meet the regulations. You will have to be careful.

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COMMENT

She does not own Sienna. Their mix of long term care homes is much larger than others in the space. She has chosen Chartwell instead.

BUY

Just over half in long term care. They have been affected by the pandemic. They have protocols in place to deal with it and have done so effectively. This is a government funded business. It's not a discretionary service. Occupancy will remain very high. The distribution yield is safe and he thinks it is undervalued.

TOP PICK

The 8% yield is covered by government payments. This sector has been trashed. Half their business is LTCs, so cash flow is guaranteed by government. So, the dividend is safe. Good balance sheet. Vacancy rates are up because of COVID, but will be absorbed by aging demographics. This sector is very cheap compared to multi-residential REITs. The LTC side of their operation is government-regulated, though provinces need to do a better job of oversight for LTCs as a whole. In the future, there will be much better levels of service and supervision, which may add to costs. The government will absorb these costs, though. (Analysts’ price target is $17.00)

COMMENT

Not a lot of growth. 65% payout ratio. Balance sheet is not bad. Good valuation. Down because it's not the most liquid stock, and there's a flight to quality. Investors are rotating out of REITs into cyclicals. In markets like this, everything goes to cash or to high quality. Yield is 6.3%.

BUY

It operates in the healthcare sector. Half the earnings are from long term care. It is a great asset glass. There is a great supply of seniors waiting to get in. It has a nice dividend yield.

PAST TOP PICK

(A Top Pick Jan 28/19, Up 11%) He likes the company. They are nicely diversified. It pulled back last week because there was a bit of over capacity in a couple of markets. They are generating great cash flow and paying down debt.

BUY

He likes the company. On a larger theme, they will benefit from the retirement home trend and are subsidized by the government. The industry is ripe for consolidation. He also likes the dividend. Yield 5%

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Sienna Senior Living Inc (SIA.TO)