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  1. #5221
    ShareTrader Legend Beagle's Avatar
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    Default Recording of Macqurie presentation with extensive Q&A

    https://oceaniahealthcare.sharefile....b6d6481344e8cb

    Well worth downloading and watching. A very strong and resilient business. Dividend yield at 80 cents still just north of 6%.
    Last edited by Beagle; 22-05-2020 at 03:54 PM.
    No butts, hold no mutts, (unless they're the furry variety).

  2. #5222
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    Quote Originally Posted by Beagle View Post
    https://oceaniahealthcare.sharefile....b6d6481344e8cb

    Well worth downloading and watching. A very strong and resilient business. Dividend yield at 80 cents still just north of 6%.
    The only downside I heard was difficulty hiring overseas nurses and carers due to the border being shut. Otherwise business as normal for OCA.
    6%+ dividend pretty damn good and share price where it was 3 years ago at the IPO. Lots more upside to come I think???!!!!

  3. #5223
    Turn and burn Maverick's Avatar
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    Quote Originally Posted by dubya View Post
    The only downside I heard was difficulty hiring overseas nurses and carers due to the border being shut. Otherwise business as normal for OCA.
    6%+ dividend pretty damn good and share price where it was 3 years ago at the IPO. Lots more upside to come I think???!!!!
    Hey Dubya,
    most here won't know, OCA have a training business that convert NZ and overseas nurses to NZ RV requirements.
    This arm contributes 1-2m income as " other income" every year.
    There is an overall strong resistance from NZ nurses to convert to RV but with local doctors now doing online and car park consultations during level4 there are plenty being forced to reconsider their positions.
    OCA has placed themselves in the front line to cherry pick the ones they like. Now overseas nurses have dried up we still have a facility that puts us in front of our competitors to assimilate the best nurses up for grabs.
    I know that sounds dodgy but you know what I mean.
    Last edited by Maverick; 22-05-2020 at 06:31 PM.

  4. #5224
    ShareTrader Legend Beagle's Avatar
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    A number of highlights of that presentation for me included :-
    1. How strong, resilient and flexible their business model is. I didn't realise that they can either sell their care suites under an occupation right agreement model or simply let new people in and charge them a premium room rate of ~ $60 a day and from a financial perspective the returns are not dissimilar. Gives them a lot of flexibility with provision of those services.
    2. How needs based this business is. I think Earl really reiterated that for us with how he said when people need care and support they need it, its completely unrelated to the business, housing or economic cycle. Instinctively I knew this already but it was nice to have that point reiterated.
    3. The full continuum of care model. They're actually building out quite a lot of independent living apartments over the next few years but I think going forward after this Covid 19 scare people will really be focusing on who really does provide a first class full continuum of care model with plenty of access to care services, (not just a token number of hospital and dementia beds like some other operators)
    4. How they can adjust their development model and speed in a prudent manner to the changing circumstances without penalty. (Bewing a bean counter I love that word prudent). The directors and senior management have really meaningful stakes in OCA and Earl is both a qualified lawyer and accountant. Senior leadership really do have their heads screwed on well and truly in my opinion.
    5. Robust demand right through the Covid 19 crisis for care suites (essential service). Government pay cheque every fortnight.
    6. Nobody who has signed a contract for a new independent living unit before the lockdown has subsequently cancelled. You'd have to say that's very comforting.
    7. Covid 19 has really shined the spotlight on the value of the late stage healthcare services that private companies like OCA provide. Augers well for future Govt funding increases.

    A "little birdie" tells me Govt funding is going up by more than 3% from 1 July 2020. Probably not enough to cover all extra expenses but it helps.

    Yes Covid 19 has presented some challenges But YES OCA have responded to them very well indeed. A LOT to like here. Feels very solid to me.
    Last edited by Beagle; 22-05-2020 at 06:47 PM.
    No butts, hold no mutts, (unless they're the furry variety).

  5. #5225
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    Quote Originally Posted by Maverick View Post
    Hey Dubya,
    most here won't know, OCA have a training business that convert NZ and overseas nurses to NZ RV requirements.
    This arm contributes 1-2m income as " other income" every year.
    There is an overall strong resistance from NZ nurses to convert to RV but with local doctors now doing online and car park consultations during level4 there are plenty being forced to reconsider their positions.
    OCA has placed themselves in the front line to cherry pick the ones they like. Now overseas nurses have dried up we still have a facility that puts us in front of our competitors to assimilate the best nurses up for grabs.
    I know that sounds dodgy but you know what I mean.
    Thanks for that Mav. No, I wasn't aware (and yes I know what you mean lol) .
    Earl covered everything else really well I thought.

  6. #5226
    I like peanuts... youngatheart's Avatar
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    Close of day mid 80c by the look of it!

  7. #5227
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by youngatheart View Post
    Close of day mid 80c by the look of it!
    It wouldn't surprise me if we get there in the near term. At 81 cents you're still getting north of a 6% yield which looks reliable and sustainable and buying at a ~ 20% discount to NTA and on a historical underlying PE of just 10. There is no other company in this sector providing those compellingly attractive metrics.

    I am back buying even more today. There's nothing I can find on the NZX that I like more than this one.
    Last edited by Beagle; 25-05-2020 at 10:12 AM.
    No butts, hold no mutts, (unless they're the furry variety).

  8. #5228
    Senior Member King1212's Avatar
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    There is one more Master Beagle.... retirement village starts with M.....

  9. #5229
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by King1212 View Post
    There is one more Master Beagle.... retirement village starts with M.....
    LOL - Good metrics at MET for sure mate but the yield is only 2.5% so if one gets stuck there for years one is counting on capital gain, whereas with OCA @ 6% one has the luxury of infinite patience...what with interest rates going down to very close to zero, 6% is a compelling yield.

    P.S. I still have heaps of MET and reckon the odds on some form of settlement are about 50/50.
    Last edited by Beagle; 25-05-2020 at 11:02 AM.
    No butts, hold no mutts, (unless they're the furry variety).

  10. #5230
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    Lost all my OCA profits exiting AIR after being late following the BRILLANT MR B, but managed to buy back in for some at 72C.. about a month ago. There is still a chance of spread from Q Hotels into the wider community. I expect to get those profits back inside a few years and who knows MAYBE AIR becomes a trade again in 2022 , a BIG MAYBE. But right now OCA is a buy for transfer to Trust portfolios but imagine if they make all investments no matter the time frame who know what......$$$ transfering assets to trusts will be a non starter. Lets hope they dont go there. I really dont think labour wants you to know that money is a formula on a computer at the reserve bank. With labour ministers saying rates need to stay up we are really living with policies that could go anywhere...Imagine property prices for rest home operators going down and rates going up? oh dear.

  11. #5231
    A BEARISH BULL winner69's Avatar
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    Quote Originally Posted by youngatheart View Post
    Close of day mid 80c by the look of it!
    C'mon mate- show some enthusiasm ....close of 90c by look of it

  12. #5232
    Senior Member King1212's Avatar
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    50/50...well better winning than casino..... or other stocks at the market...black u win...red also u win.... skycity casino does not do that....lol

  13. #5233
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    Suspect buying is being driven by the move into the MSCI small cap index (up from the micro cap index). Expecting buying pressure until the end of the week.

  14. #5234
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    Quote Originally Posted by JohnnyTheHorse View Post
    Suspect buying is being driven by the move into the MSCI small cap index (up from the micro cap index). Expecting buying pressure until the end of the week.
    Thanks. With the free float so dramatically changed from the recent Macquarie sell-down one wonders what other index they might end up getting into ? I am thinking maybe that NZX50 inclusion could be on the cards soon too.
    No butts, hold no mutts, (unless they're the furry variety).

  15. #5235
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    Quote Originally Posted by Beagle View Post
    Thanks. With the free float so dramatically changed from the recent Macquarie sell-down one wonders what other index they might end up getting into ? I am thinking maybe that NZX50 inclusion could be on the cards soon too.
    I thought they managed to get into the NZX50 a year or so ago when I last held OCA...was that only temporary while they were above a buck?

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