INA - Ingenia Communities Group

[BlackPeter]

Funny - I thought there was a thread for this little jewel, but for some reason I can't find it.

INA is one of the Retirement stocks ... with a somewhat different model. Their main business is basically to buy up nice holiday parks and turn them over time into (at least as nice) pre-fab retirement villages. Their locations are typically desirable tourist spots with a sheltered beach or lake and other beautiful landscape around, they have a pool, a shop (and presumably a bowling green) and attract the generation which spent most of their holidays in these parks. If you enjoyed this lifestyle during your holidays - than why not retire here as well? The difference .. they don't sell their cabins, they rent them out (i.e. ideal for people just dependant on their pension), and they provide as well all necessary care services for their occupants.

INA had (despite rather healthy fundamentals: analyst consensus $3.22, forward PE: 12.6 combined with a growth rate close to 30% - admittedly lots of that financed with CR's) a rather quiet phase on the share market - basically moving up and down around the $2.80 (+/-25 cents) and at the moment more at the lower end.

4-traders calls them a BUY (based on 3 analyst opinions);

Here is their latest investor presentation: http://www.asx.com.au/asxpdf/2017062...hz5ny61mcr.pdf

They announced today that they managed to exceed even their already upgraded sales figures:

http://www.asx.com.au/asxpdf/2017070...p6cvh6sqhg.pdf

... and the market doesn't make a move!

But then, maybe this is the reason Ellerston Capital was recently buying in big:

http://www.asx.com.au/asxpdf/2017060...5rzgh3n5g5.pdf

They say on their website:

Ellerston Capital is a specialist investment manager with a distinctive approach to portfolio construction and investment selection.
Our investment approach is designed to focus on opportunities the market may have overlooked – exploiting inefficiencies by identifying stocks that are temporarily misunderstood and fundamentally mispriced.

Inspirational.

Discl: holding (XL)