Sienna Senior Living Inc

SIA-T

Analysis and Opinions about SIA-T

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Opinion
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PAST TOP PICK
PAST TOP PICK
November 16, 2011
(A Top Pick Nov 1/10. Up 12.76%.)
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(A Top Pick Nov 1/10. Up 12.76%.)
TOP PICK
TOP PICK
November 16, 2011
Low payout ratio and almost 8% dividend yield. Quite secure. If the market drops, it just stays where it is.
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Low payout ratio and almost 8% dividend yield. Quite secure. If the market drops, it just stays where it is.
BUY
BUY
October 18, 2011
Basically nursing homes. Small margin business almost all paid by the government. Ontario government is requiring them to replace a lot of their beds. There is funding for this, but critics feel it is not enough to justify. Feels dividend is safe but doesn't see much growth. Very appropriate for individuals. Yield of a little under 8%. Payout ratio of about 80%.
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Basically nursing homes. Small margin business almost all paid by the government. Ontario government is requiring them to replace a lot of their beds. There is funding for this, but critics feel it is not enough to justify. Feels dividend is safe but doesn't see much growth. Very appropriate for individuals. Yield of a little under 8%. Payout ratio of about 80%.
PAST TOP PICK
PAST TOP PICK
October 11, 2011
(Top Pick Sep 1/10, 16.00%) Unlike competitors, it is Ontario only retirement and nursing homes. Funding formula with province is much more understandable. Cheap financing and demographics work. Election out of the way could put upward pressure on pricing.
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(Top Pick Sep 1/10, 16.00%) Unlike competitors, it is Ontario only retirement and nursing homes. Funding formula with province is much more understandable. Cheap financing and demographics work. Election out of the way could put upward pressure on pricing.
BUY
BUY
September 26, 2011
Likes this one. Fairly low risk sector. Nursing homes with a focus in Ontario. Strong operational management. Distribution is reliable.
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Likes this one. Fairly low risk sector. Nursing homes with a focus in Ontario. Strong operational management. Distribution is reliable.
TOP PICK
TOP PICK
September 8, 2011
(A Top Pick Sept 1/10. Up 12.37%.) Senior care is a really complicated space. This one is so much each year because it has all its retirement/nursing facilities in Ontario. Getting into more higher end real estate and are getting CMHC financing..
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(A Top Pick Sept 1/10. Up 12.37%.) Senior care is a really complicated space. This one is so much each year because it has all its retirement/nursing facilities in Ontario. Getting into more higher end real estate and are getting CMHC financing..
PAST TOP PICK
PAST TOP PICK
August 10, 2011
(A Top Pick Sept 1/10. Up 10.19%.) Still likes. Fantastic company with a conservative capital balance sheet. Room for it to grow.
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(A Top Pick Sept 1/10. Up 10.19%.) Still likes. Fantastic company with a conservative capital balance sheet. Room for it to grow.
BUY
BUY
June 21, 2011
Is a defensive name, has a good yield/income to it. Believes that the yield is sustainable. It's in the nursing home sector primarily, and expanding into the retirement home side. Focused in Canada. Board is strong. 8% yield.
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Is a defensive name, has a good yield/income to it. Believes that the yield is sustainable. It's in the nursing home sector primarily, and expanding into the retirement home side. Focused in Canada. Board is strong. 8% yield.
TOP PICK
TOP PICK
May 30, 2011
Low payout ratio. Nursing homes. Good management.
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Low payout ratio. Nursing homes. Good management.
DON'T BUY
DON'T BUY
May 26, 2011
Long term care housing so operating margins will be thinner. Long term care requires professional help such as nurses so expenses will be higher. Will have to relocate some of their class C assets.
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Long term care housing so operating margins will be thinner. Long term care requires professional help such as nurses so expenses will be higher. Will have to relocate some of their class C assets.
DON'T BUY
DON'T BUY
April 20, 2011
Long term care facilities in Ontario. Not a big fan as he feels it was overpriced on the IPO. About half the portfolio (“A” quality assets) is fairly valued at about an 8% cap yield and the rest, B and C, were probably fairly valued at 12% to 13% but brought it all out as an 8% cap yield. Feels distribution is sustainable for the next couple of years. Expect investors will be left behind by some of the better quality REITs. 2 new acquisitions will improve their quality.
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Long term care facilities in Ontario. Not a big fan as he feels it was overpriced on the IPO. About half the portfolio (“A” quality assets) is fairly valued at about an 8% cap yield and the rest, B and C, were probably fairly valued at 12% to 13% but brought it all out as an 8% cap yield. Feels distribution is sustainable for the next couple of years. Expect investors will be left behind by some of the better quality REITs. 2 new acquisitions will improve their quality.
BUY
BUY
January 18, 2011
Solely focused in Ontario, which he likes. They get CMHC financing for upgrading facilities. Well run and cheap relative to its peers. Under levered.
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Solely focused in Ontario, which he likes. They get CMHC financing for upgrading facilities. Well run and cheap relative to its peers. Under levered.
BUY
BUY
January 11, 2011
Nursing homes operator in Ontario and probably one of the best operational teams out there. Revenues and increases in pricing completely controlled by the Ontario government.
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Nursing homes operator in Ontario and probably one of the best operational teams out there. Revenues and increases in pricing completely controlled by the Ontario government.
TOP PICK
TOP PICK
December 23, 2010
Long term health care. Nice demographic play in Ontario. Currently there is a 26,000 backlog of needed beds. Not expensive on a funds to operation basis at about 10X. 8.10% yield. Expecting reasonable growth.
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Long term health care. Nice demographic play in Ontario. Currently there is a 26,000 backlog of needed beds. Not expensive on a funds to operation basis at about 10X. 8.10% yield. Expecting reasonable growth.
TOP PICK
TOP PICK
November 1, 2010
8.4% yield. Ontario only. 40,000 more beds over the next 10 years. Can get CMHC funding. Getting 3% funding. Have to upgrade a lot of their retirement space to get funding. There is a huge barriers to new competitors.
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8.4% yield. Ontario only. 40,000 more beds over the next 10 years. Can get CMHC funding. Getting 3% funding. Have to upgrade a lot of their retirement space to get funding. There is a huge barriers to new competitors.
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