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  1. #1
    Senior Member Toasty's Avatar
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    Default VHP Vital Healthcare

    I couldn't find a thread for this company so I thought I would start one. I have owned a small amount of these for the last 5 or so years. Bought at 89 cents. They have just been ticking happily along with an ok but not exciting yield and a slow rise in value. Brief periods of excitement and controversy with the Australian acquisitions and then the management rights saga.

    Just wondering if anyone has any thoughts on this company and whether or not it is viewed as worth owning. I was thinking about buying a few more as it seems safe and delivers a reasonable return.

  2. #2
    percy
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    I brought a few last year.Went to a company presentation and am happy with their porfolio of medical related buildings.
    Good way to get into Australian property.

  3. #3
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    I can't understand why their share price is higher than their NTA. THis cannot be sustainable, so either the value of the buildings if forecast to go up signifciantly ot the share price must come down. Furthermore the manager promised fee reductions previously which has turned out to be rubbish. Someone should complain to the FMA about that as many investors sunk money into the rights issue for that very reason.

  4. #4
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    Quote Originally Posted by SparkyTheClown View Post
    May have been on the Sharetrader forums as ING Medical or IMP in a former life.
    It was CHP - Calan Healthcare Properties before that.... but I think generally covered on the property trusts thread.

    I quite like owning it for the geographical diversification (Australian property) while still benefiting from NZ tax structure. I don't think they're particularly cheap at the moment though - I can't quite fathom the upwards move in property trusts of late. Presumably either resulting from cheaper debt funding or investors hunting for anything better than bank deposit rates as older investments mature.

  5. #5
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    Quote Originally Posted by SparkyTheClown View Post
    Lizard, what do we make of NZX listed firms that go through multiple name changes in a period of only a few years? :-)

    Calan, ING Medical, Vital Healthcare....

    Canuckiwi Medical Properties can't be far behind...


    Yes, seems there is more money to be made trading the management contracts than the shares - if you have deep enough pockets.

  6. #6
    Senior Member Toasty's Avatar
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    Haven't had a chance to read properly yet but the interim results look pretty good. I really like this company even though its not a startling performer and despite the management rights debacle a while back. Just keeps paying me a dividend and the share price just tracks up slowly. Probably my property ownership bias creeping in....

    Beats a term deposit anyway...I think...

  7. #7
    percy
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    Quote Originally Posted by Toasty View Post
    Haven't had a chance to read properly yet but the interim results look pretty good. I really like this company even though its not a startling performer and despite the management rights debacle a while back. Just keeps paying me a dividend and the share price just tracks up slowly. Probably my property ownership bias creeping in....

    Beats a term deposit anyway...I think...
    Yes a good steady performer.

  8. #8
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    Quote Originally Posted by percy View Post
    Yes a good steady performer.
    I would say a star performer amongst LPT's.

  9. #9
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    Northwest partners planning to acquire another 5% (they already have19.99%) on the market over next 12 months. One has to question whether VHP will remain as a PIE entity in the future (IRD has given an exception as long as they are under 25% mark) but what if they increase their stake again after 12 months!

    Northwest won't benefit from VHP being a PIE entity. I think gradually they will increase the stake and will be eventually taken over. Are we losing another excellent investment opportunity from NZX?

    There was an opportunity to internalise management few years ago, even if it meant overpaying for it by a few millions

    I will hold for now.
    Last edited by RRR; 20-04-2013 at 06:08 PM.

  10. #10
    Senior Member Toasty's Avatar
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    One small bright moment for me on the market today was VHP finally getting to the $1.40 barrier. It has been waffling between $1.38 and $1.39 for so long. Not an exciting company and I don't really keep track of news or anything to do with it other than bank the dividend payment when it arrives (mental note: set up DC). I still like owning a bunch of hospitals. Beats the waterworks, Electric Company and Railway Stations.

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