Q: please comment on recent quarter and 3 - 5 year hold.
5i Research Answer:
The quarter for SIA looked fine. Net operating income was up 9.9% with retirement up 11% and LTC up 9.1%. Occupancy was up to 88% in the retirement business with LTC at 97% occupancy. They were also able to increase rates by 5% and the outlook sounds largely optimistic.
Its not our favourite sector in general but things are moving in the right direction and think a case can be made if looking for something with an outsized yield.