Investment Thesis
Sienna Senior Living (LWSCF) (TSX:SIA) owns and operates senior housing communities in Canada. In Q3 2018, the company saw its adjusted funds from operation per share decline by 2.6% year over year. The company should be able to resume growth in 2019 thanks to: (1) a development project that should reach completion in mid-2019, (2) ageing populations in Canada that continue to drive strong demand for senior residences, and (3) cost-savings and occupancy improvement from its newly acquired retirement residences.
The company is currently trading at an attractive valuation to its