I've been building a position in Senior Living companies. BKD is the obvious one, but I've have a basket including NHI.
The industry has a powerful setup: an aging population is driving demand, while years of underbuilding have tightened supply and improved pricing power. I think that makes senior living an attractive long-term themes.
Sonida Senior Living SNDA is a better buy I think. It has an aligned sponsor, a highly incentivized management team, (recent grants with a tiered threshold up to $66!! ) and a recent transformative merger with CHP that should improve scale, synergies, and operating leverage.
Is anyone involved or invested in the space that has a view ?
Sonida Senior Living, Inc. SNDA
byu/ShowMeTheIncentives inwallstreetbets
Posted by ShowMeTheIncentives
2 Comments
Been watching the demographic trends for a while and senior living definitely has legs. The math is pretty simple – boomers aging out and not enough facilities to handle the wave.
SNDA looks interesting but I’m curious about their occupancy rates post-merger, those integration periods can get messy. The management incentives you mentioned are solid though, always like when leadership has skin in game.
The population of uncs does appear to keep going up so yeah