Sienna Senior Living Inc T.SIA

Accumulating

[William32]

This stock for a while now. Another 10k$ this morning. Tax selling season is on right now. I believe in January we will be very happy... if not, I'm paid 8.5% to wait.

[smalltimeinvest]

Watching the comments fairly closely. I am debating adding more. Not sure if it is a risky move or not. The coverage of the interest on the floating rate debt is just about my only concern. The company is very effectively managed IMHO.... 

[BlueJay2020]

I first purchased this stock when it hit around $10 in March 2020 during COVID.  I can hardly believe we're approaching those levels again!  The downside risk appears to me to be low, looking at the long-term demographics and also the moat around a stock like this. I also think this is the standout play in this seniors sector. The only question is at what point do I add more. 

[dogatcat]

It is the certainty that is  the kicker.  This is only being sold down because interest rates are on the rise.  Once the pause the ascension of rates, this takes off again.     This is a GIC just waiting to run.

[BlueJay2020]

I picked up another 1000 today at 10.81.  I figure tax loss selling is just about done. Happy to get paid handsomely to wait while the SP climbs back up to $15. If it does happen to drop into the $9s at any point, I will be opening up the emergency casket of dry powder!

[William32]

Same thing here. And would love to see it drop in the low $10s, high $9s... 

[AmorFatiforlife]

I added more today as well. Been accumulating this since 2019.  Their debt ratio has been  improving yoy and qoq if you take a look back over the last year or so.  Great long term potential. They didnt cut their divs during pandemic. They have made some great strategic acquisition over the last few years.  Boomers are coming to retirement very soon and demand for LTC beds and

[ANALOG GUY]

As a retiree, I buy all the SIA I can when it goes on sale  not for future capital gains but the juicy dividend income that is VERY tax efficient in my province  I will own it for a LONG time its a solid company that hasn't reduced it's dividend since 2010

[William32]

All great comments and I share everything that has been said. It is a very well managed company and yes, they NEVER reduced or suspended their dividend. Not in the pandemic and even not in the global financial crisis (when, btw, the yield on the stock was approximatively the same as currently). They also have a significant moat. When you think about it, who could enter this business in this

[AmorFatiforlife]

I think Chartwell might be in their sights for a future JV or acquisition. If they buy CSH that gives them a huge monopoly here in Canada.  Chartwells numbers have been dwindling so I'm curious to see if they make a move for them.  

[BlueJay2020]

Well, it would give them a dominant position in the publically traded retirement space in Canada, but nowhere near a monopoly in the total space.  A lot of mom and pop establishments plus those bigger fish held privately. I'm not sure they could manage the debt burden, to be honest.  Deeper pockets might be needed.

[AmorFatiforlife]

Good point. Chartwell may be a bit of lofty goal.. if they could pac man up a few of the smaller independent places, grab some government grants and funding, they could grow this out organically.  I'm on the west coast and they have nice facilities here.. would like to see them expand out here.

[newcoin]

Big difference in market cap. SIA is $800M while AQN is $5B. I own both.

[BlueJay2020]

True. There are many ways to assess risk, naturally.  I'm personally not too bothered about relative market cap size as long as the smaller stock is liquid enough.  Plus, it's often a case of who owns the stock vs. how much stock there is. I own both stocks, but while Sienna is a strong hold, I am looking for a shorter-term return from AQN.  There are lots of alternatives

[ANALOG GUY]

Added 2400 at $10.91  all done for this year  GLTA