RE:Viewing Posts Noted BelowI can only provide my own perspective.
1) The market is forward looking and expects that at some point in the next 6 months, the virus will be under control thanks to the vaccine.
2) If that is not the case, then a lot of companies on the stock market will be in trouble! However, what is the risk to Sienna? I suppose the worst case scenario is that it kills off all its residents and therefore cannot collect the rent, nor could it replace the tenants That hasn't happened up to now, and doesn't seem too likely to me.
3) If that worst case scenario doesn't happen, then you are left with some negative press and some extra COVID-related expenses, some of which are covered by the government.
Big picture - in the long-term there is going to be huge demand for the services that Sienna provides. LTC isn't going away. It is far less risky than an office or a retail REIT at this moment. I started buying this I started buying this at under $10 and now have 6,000 shares at an average of $11.21 - I am not even remotely thinking of selling.
Would I start a position at around $14? It's a cliche but the easy money has been made. Personally, I can see 40% upside to the share price from here within 12-18 months, plus you're being paid to wait. But there are certainly risks to be borne in mind. It all depends on your risk appetite and overall portfolio mix.
I wouldn't criticise you for staying on the sidelines at $14 - after all, you sat on your hands at $10 .... and missed a significant run-up!