The Summerset one in Parnell is further down, so it's not them and Aveo already have one in the area.
Printable View
Retirement sector on fire - MET takeover, RYM and ARV at record levels, SUM on a big run. Even unloved OCA up 10% in short time. Happy to hold all of these :)
Its just gob-smacking to me of the speed the share prices are climbing.Boring old MET and RYM are now worth 5 % more today that yesterday. Pretty well all the retirement companies are now worth 25-30% more than 2 months ago (except OCA - of course.) I still don`t consider any of them to now be pricey, even now. Considering the pattern of the industries YOY growth, its just they were soooo cheap back then.
Its a bit sad for little ol` OCA though being left out of the party. Its barely farted while the others are roaring. Accordingly I`ve recently done more workings and reworkings on the spreadsheets looking particularly, with Beagles valid points in mind, about their care side not doing well to this point (it is especially warranted as this is where they are expanding into).
From these updated projections I have, once again, proven to myself that the future numbers are still very solid.
My workings have the care profit improving at 10% yoy and village profit at 20% yoy. (for those that might not be aware, the 2 divisions are very separate, both financially and in practice) Interestingly, the maths say the care profit increases an extra 1% each year while the village side diminishes about 1 % yoy. Due to the higher weighting of the village v`s care the combined profit increases remain a fairly constant 20% YOY increase overall. There is only a few years of data to draw on so I accept the future projections will vary greatly so I have tried to be conservative.
Of course these are just my unproven workings and no evidence of any good news, if I am right, will be apparent until late January. So until then I continue to wait and watch the others leap ahead. If things are actually on track and OCA is performing "only" inline with everyone else then at some point there is a large wave of catch up needed to happen.
I am enjoying watching you all doing very well in the mean time.
Earlier this week was talking to an Auckland buyer ( going to a lot of auctions & missed out on a couple of properties due strong bidding ) who said the Auckland market has really ignited again with these low interest rates, dozens of people at open homes & property prices going up at rate of $20,000 per month. (this in the around $1M category).
Looks like there's a revaluation of retirement sector which was so unloved in flat property market.
Makes sense why Adrian Orr has not removed LVR's if market has taken off again.
Why wouldn't this sector do well ? NZ is one of the best countries in the world to retire in.
Just been reading that Heritage Lifecare (Aus) has purchased Golden Healthcare to becomes NZ 3rd largest operator.
Norah still busy as .....good to see.
Interesting financials that Heritage have.