U cracked me up...:D
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Tried to find out who won the 2018 award. Apparently it was the "Wyndham & Districts Community Rest Home Inc in Wyndham": https://nzaca.org.nz/events/awards-2018/;
Don't know the criteria for the price but not too concerned if one tiny retirement home in Southland with a total of 23 beds takes it. Small is beautiful, but it can't be an insurmountable competitor for OCA:
https://www.eldernet.co.nz/Facilitie...ce/FaStID/1082
Wow. So many buyers and relatively few sellers. Presentation may have stirred interest? I've not seen a line up like this for a long time.
I have sold my OCA holding today,getting $1.08 from buyers wanting in before OCA hits the NZX 50 index..
I did not see the property down turn affecting the sector.
Yesterday's SUM agm proved me wrong.
The projected reduced development margin sends a clear signal that the glory days have gone for the time being.
Hopefully the property market downturn in Auckland and ChCh will not last too long,but who knows.?
Long term no worries and OCA has more of a moat than SUM others due to their care based % and the lower average sale price of their care suites and apartments. Having said that the Macca overhang is a very large elephant and $1.10 is a huge resistance level at this point in time IMO.
Good stuff Percy. However I am sure OCA is a bargain. Here's why:
1. How many stocks that pay 4% return on current share price exist at the low purchase price of approx 110 cents,
2. How many Companies have done exactly what they said they would do?? OCA has.
3. How many stocks have a solid gold backing of real estate that OCA has?.
4. How many stocks in NZ can you buy into with close to 3000 skilled staff?
5. How many stocks have the Ageing Population/longer living population figures to market to like OCA does?
6. How many Companies have absolute 'company business experts" on the BoD like OCA does?
7. Look at the competitors share price R =$12 S-$6 so I suggest at $1.10 OCA is a bargain
No surprises there.!!.
I was prepared to sell at $1.06 so am relaxed.
Just have to see how I get on now with my buy order for the stock I am repacing OCA with.
Just received the contract,brought SKL at $2.19 which is better than the $2.20 I thought I would have to pay.Remain "well positioned."
ps .Have a bit leftover to buy a fun stock in Aussie