Sienna Senior Living Inc (SIA-T)

Pandemic challenges continue, especially for labour. Good, long-term business. Costs have increased. Demand is still there. Starting to come back. Debt. Won't see dividend increases soon. If it goes up, take some money off the table. Better places to put your money.

Likes senior living space.
Has been investing in private REIT space for seniors.
Trend that will last for decades.
Current share price presenting value.
Would recommend buying.

The quarter for SIA looked fine. Net operating income was up 9.9% with retirement up 11% and LTC up 9.1%. Occupancy was up to 88% in the retirement business with LTC at 97% occupancy. They were also able to increase rates by 5% and the outlook sounds largely optimistic. 

Its not our favourite sector in general but things are moving in the right direction and think a case can be made if looking for something with an outsized yield.
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Previously, a very stable business with a nice distribution yield. The pandemic threw all this out the window. Difficulties on occupancy and labour costs. Very solid management. Pursuing attractive growth opportunities. Retirement portfolio has done surprisingly well throughout the pandemic. Challenge on LTC side will hopefully pass. Difficult stock, but you'll be rewarded long term.