Sienna Senior Living Inc

Latest Results (17.10.2025):

Sienna Senior Living Inc. reported strong financial results for the fourth quarter of 2024, demonstrating continued growth and expansion through strategic acquisitions in Ontario. The company achieved its eighth consecutive quarter of year-over-year adjusted same property net operating income (NOI) growth, reflecting robust performance across its Retirement and Long-Term Care segments.

Revenue and NOI Growth

In Q4 2024, Sienna's total adjusted revenue increased by 12.5% to $246.3 million, while adjusted same property NOI rose by 22.6% to $45.5 million compared to Q4 2023. This growth was driven by higher occupancy rates, rental rate increases, and enhanced care and ancillary revenues.

Occupancy Rates Improvement

The company's average same property retirement occupancy reached 92.9% in Q4 2024, a 300 basis point increase from the previous year. January 2025 saw further improvement, with average monthly occupancy rising to 93.1%, nearing the 95% target.

Strategic Acquisitions in Ontario

Sienna expanded its portfolio with the acquisition of two properties in Ontario for a total of $81 million. These include a 165-suite retirement residence in Stittsville, Ottawa, and a 192-bed Class A long-term care home in Mississauga, enhancing Sienna’s presence in key markets and expected to be immediately accretive to AFFO per share.

Enhanced Financial Metrics

OFFO per share increased by 17.5% to $0.356, and AFFO per share grew by 25.1% to $0.304 in Q4 2024. The AFFO payout ratio improved significantly to 77.1%, down from 96.2% in the previous year, indicating stronger financial stability and cash flow management.

Operational Efficiency

Sienna successfully reduced agency staffing costs by $2.4 million year-over-year in Q4 2024 through improved team member retention and proactive staffing initiatives, contributing to overall cost management and enhanced profitability.