Finding traction once again
DJ Sienna Senior Living Retirement, Long-Term Care Segments Driving Recovery -- Market Talk
Wednesday, May 17, 2023, 10:40 AM ET
1040 ET - RBC says Sienna Senior Living's retirement and long-term care segments are finding traction again, which should support continued recovery in organic growth and margins. Pammi Bir in a note says, "Retirement growth was driven by higher occupancy and rents, partly offset by higher operating costs, while LTC was partially aided by a C$3M prior period pandemic cost recovery." Bir adds that Sienna's "effective sales and marketing efforts continue to support retirement occupancy," as well, boosting the rebound. Shares are down 0.4% at C$11.42, but up 4.7% year-to-date. (adriano.marchese@wsj.com)
DJ Sienna Senior Living Retirement, Long-Term Care Segments Driving Recovery -- Market Talk
Wednesday, May 17, 2023, 10:40 AM ET
1040 ET - RBC says Sienna Senior Living's retirement and long-term care segments are finding traction again, which should support continued recovery in organic growth and margins. Pammi Bir in a note says, "Retirement growth was driven by higher occupancy and rents, partly offset by higher operating costs, while LTC was partially aided by a C$3M prior period pandemic cost recovery." Bir adds that Sienna's "effective sales and marketing efforts continue to support retirement occupancy," as well, boosting the rebound. Shares are down 0.4% at C$11.42, but up 4.7% year-to-date. (adriano.marchese@wsj.com)