Added More Sienna Senior Living Today

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With todays massive down opening on all stock exchanges we were actively looking for something that would look to be a super value for possible purchase–unfortunately most quotes over the internet were either late or non existant. Just trying to get a decent quote was difficult.

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Specifically we were looking for quality issues that were down a bunch–not just 1-2% like most issues were, but more like 10 or 15%.

We did locate the shares of giant BDC FS Investment (ticker:FSIC) which opened up down 30% (from $10 it opened at around $6.90).  We immediately put in an order, but by then shares had taken off closing the day at $9.50.  Oh, well.

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We did notice our favorite senior care company, Sienna Senior Living, was off 10% at $11.07, immediately we attempted to buy, but it trades very thin on the OTC market and when we finally caught up with it we made a small buy at $11.41.  Sienna Senior Living is a Canadian company that has performed almost perfectly the last number of years. The dividend is not huge–90 cents (Canadian) per year–this works out to about 6.3% when translated into U.S. Dollars.  The biggest issue with holding a Canadian stock now is the dollar has been so strong that it has held the share price down. YTD we are about breakeven on a total return basis with Sienna, but there is so much potential. We have mentioned this company numerous times and for those looking for a growth company with good yield and tons of potential Sienna might be for you.  Here is a recent company presentation outlineing the important data.  Remember that the data in this presentation is in Canadian dollars, which is why it shows the shares over $15 while it is on $11-12 in the U.S.  Shares trade very thinly on the U.S. pink sheets under ticker LWSCF.  We think this company could become a buyout target.

 

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Tim McPartland

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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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