Aged Care Sector: Tide Is Going Out; Debt Coming to the Surface
The three aged care stocks with March year ends (Ryman [RYM], Arvida [ARV] and Oceania [OCA]) have tripled net debt over the last five years; As a...
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Aged Care Sector: Montgomerie-Ibbotson Aged Care Pricing Index (13-Dec-2022)
Our Montgomerie-Ibbotson (MI) index decreased very slightly in November, down -0.1% versus October 2022 and up +5.1% vs November 2021 - this is the...
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Aged Care Sector: What If? Fast Track to Ex-Growth
The aged care sector is valued around or significantly below equity book value, which suggests to us that the market is losing confidence not only...
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Arvida Group: 1H23 Result — Slowing Down to Speed Up
Arvida Group (ARV) delivered a confident 1H23 result, slightly ahead of our expectations, driven by very strong resales gains partly offset by...
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Arvida Group: Expectations Reduced but with a Silver Lining
Arvida Group (ARV) provided what could maybe be best described as a downgrade with a silver lining; the weakness versus our expectations is two...
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