TSX:SIA - Post Discussion
Post by
traderlong2 on Feb 25, 2024 8:50pm
Scotia Capital analyst Himanshu Gupta
Globe says Sienna Senior kept at "sector perform"
2024-02-23 08:00 ET - In the News
The Globe and Mail reports in its Friday edition that Scotia Capital analyst Himanshu Gupta has reaffirmed his "sector perform" call for Sienna Senior Living. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gupta boosted his share target to $14.50 from $13.50. Analysts on average target the shares at $13.67. Mr. Gupta says in a note: "With stabilization achieved in LTC [long-term care] segment and NOI margin upside on RH, we think Sienna Senior Living is our top candidate for SO-rating upgrade. However, we do note that Sienna Senior stock is up 9 per cent year-to-date (vs REIT sector up 1.9 per cent) and now trading at 13-per-cent discount to our NAV vs REIT sector at 18 per cent. Our 2024 estimated AFFOPS [adjusted funds from operations per share] implies 4.5-per-cent year-over-year growth which stacks well within our coverage universe (Chartwell Retirement Residences REIT leading the pack at 30 per cent; Sienna Senior screens above average). We recommend Sienna Senior to income/yield investors given dividend yield of 7.5 per cent at 2024E AFFO payout ratio of 86 per cent." The Globe reported on Nov. 21 that RBC kept Sienna Senior at "sector perform" when it could be had for $10.70.
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