Like many other developed nations Canada’s population is aging rapidly. For the first time in Canada’s history seniors made up a bigger proportion of the population than children in a 2016 census. By 2031, Statistics Canada projects that 1 in 4 Canadian will be over the age of 65.
These trends have catapulted healthcare, pharmaceutical, and supplement stocks. However, today we are going to look at Sienna Senior Living Inc. (TSX:SIA). Sienna Senior Living owns and operates long-term care homes, retirement homes, and independent living facilities. It also provides care workers for these facilities.
The company released its second quarter results on August 9. Same property net operating income was up 10.1% to $6.8 million compared to Q2 2016. Retirement occupancy and private occupancy was up 2% and 1% respectively from the previous year. Shares of Sienna Living were up 1.29% in mid-afternoon trading on October 27. The stock has increased 10.3% in 2017 and 11% year over year.
Sienna Senior Living also boasts a dividend of $0.08 per share representing a 5% dividend yield. So it is an attractive income generator for investors as well.
Ignoring its good dividend this is a stock that has a great long-term outlook. Investors can catch the beginning of an aging trend that will continue over the next several decades and the services of this company should remain in high demand. Buy and hold this one for the long haul.