Sienna Senior Living Q2 revenue up 17.4%, beats expectations

Overview

• Sienna Q2 revenue rises 17.4% yr/yr, beating analyst expectations

• Adjusted FFO increases 21%, per share declines due to equity issuances

• Co completed C$315 mln in acquisitions and C$80 mln redevelopment project

Outlook

• Sienna targets retirement occupancy of 95% by Q1 2026

• Company expects retirement NOI growth to exceed 10% in 2025

• Sienna anticipates LTC NOI growth in low single digits for 2025

Result Drivers

• OCCUPANCY INCREASE - Retirement segment occupancy rose 150 bps year-over-year to 92.1%, contributing to revenue growth

• ACQUISITIONS - Completed C$315 mln in acquisitions in Alberta and Ontario, boosting revenue

• RENTAL RATE ADJUSTMENTS - Adjustments in line with market conditions helped increase revenue in retirement segment

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the healthcare facilities & services peer group is "buy"

• Wall Street's median 12-month price target for Sienna Senior Living Inc is C$20.00, about 6.4% above its August 11 closing price of C$18.72

• The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 28 three months ago

Press Release: ID:nGNX1kLsCl