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

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat C$253.60 C$243.70

Adjusted mln mln (1

Revenue Analyst)

Q2 C$0.262

Adjusted

FFO Per

Share

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 ( LWSCF ) 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:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)