Sienna Senior Living Inc
TSX:SIA
Sienna Senior Living Inc
Sienna Senior Living, Inc. engages in owning and managing seniors’ living residences. The company is headquartered in Markham, Ontario. The company went IPO on 2010-03-22. The firm serves independent living (IL), independent supportive living (ISL), assisted living (AL), memory care (MC) and long-term care (LTC) through the ownership and operation of seniors' living residences in the Provinces of British Columbia and Ontario. The firm's segments include Retirement and LTC. The Retirement segment consists of approximately 27 retirement residences (RRs), five of which are located in British Columbia and 22 of which are located in Ontario, and the RR management services business. The LTC segment consists of approximately 35 LTC residences located in Ontario, eight seniors' living residences located in British Columbia and the LTC management services business. The firm offers various services, including meal packages, housekeeping, transportation, laundry and long-term chronic care.
Sienna Senior Living, Inc. engages in owning and managing seniors’ living residences. The company is headquartered in Markham, Ontario. The company went IPO on 2010-03-22. The firm serves independent living (IL), independent supportive living (ISL), assisted living (AL), memory care (MC) and long-term care (LTC) through the ownership and operation of seniors' living residences in the Provinces of British Columbia and Ontario. The firm's segments include Retirement and LTC. The Retirement segment consists of approximately 27 retirement residences (RRs), five of which are located in British Columbia and 22 of which are located in Ontario, and the RR management services business. The LTC segment consists of approximately 35 LTC residences located in Ontario, eight seniors' living residences located in British Columbia and the LTC management services business. The firm offers various services, including meal packages, housekeeping, transportation, laundry and long-term chronic care.
Strong Q3 Results: Sienna delivered robust operational performance in both retirement and long-term care, with significant increases in occupancy and NOI growth.
Occupancy Gains: Retirement segment same-property occupancy reached 94.1% in Q3 and rose to 94.7% in October, on track to hit the 95% target by year-end.
NOI Momentum: Same-property NOI rose 13.2% in Retirement and 6.7% in Long-Term Care, with asset optimization initiatives driving over 40% NOI growth in select properties.
Acquisition Activity: Over $800 million in assets added via acquisitions and developments in 2025, with several high-quality properties acquired in Ontario and strong pipeline ahead.
Financial Strength: Revenue increased 16.4% to $261.7 million, OFFO jumped 33.3%, AFFO up 36.1%, and payout ratio improved to 78.7%. Liquidity remains strong with $464 million on hand.
Guidance Raised: Same-property NOI growth targets increased to 13–14% for Retirement and 4–5% for Long-Term Care for the year.
Labor & Team Retention: Employee engagement and retention have improved significantly, with turnover down 60% and no vacancies across the portfolio.
Development & Funding: Two large Ontario redevelopment projects completed on time and on budget, with rapid lease-up and full government funding from day one.
