Sienna Senior Living Expands with Acquisition in Waterloo

Sienna Senior Living ( (TSE:SIA) ) has provided an update.

Sienna Senior Living Inc. has announced its acquisition of The Hygate on Lexington, a 216-suite retirement residence in Waterloo, Ontario. This strategic purchase, valued at $93.3 million, is expected to enhance Sienna’s presence in the southwestern Ontario market, which is known for its technological and innovative environment. The property, built in 2021, offers various living accommodations and includes a development site with potential for further expansion. The acquisition is anticipated to close within 60 days, pending regulatory approvals, and will be financed through cash and credit facilities.

The most recent analyst rating on (TSE:SIA) stock is a Hold with a C$19.00 price target. To see the full list of analyst forecasts on Sienna Senior Living stock, see the TSE:SIA Stock Forecast page.

Spark’s Take on TSE:SIA Stock

According to Spark, TipRanks’ AI Analyst, TSE:SIA is a Neutral.

Sienna Senior Living’s overall stock score is driven by a strong earnings call that highlights strategic acquisitions and operational improvements. However, financial performance concerns, particularly around cash flow and leverage, along with a high P/E ratio, weigh on the score. The technical analysis suggests a neutral market sentiment, contributing to a moderate overall score.

To see Spark’s full report on TSE:SIA stock, click here.

More about Sienna Senior Living

Sienna Senior Living Inc. is a company that offers a comprehensive range of senior living options, including independent living, assisted living, memory care, long-term care, and specialized programs under its Aspira retirement brand. The company employs approximately 15,000 people who are dedicated to enhancing the quality of life for seniors.

Average Trading Volume: 271,300

Technical Sentiment Signal: Buy

Current Market Cap: C$1.75B

Learn more about SIA stock on TipRanks’ Stock Analysis page.