I'll put my two cents into this one. As a recent and sizeable investor in HealthCo, I think the current price is enormously undervalued. As an accountant and pretty decent investor, I can say the current share price doesn't even make any sense.
If you look at the Non Healthscope Affected portfolio, this represents approximately 45% of the portfolio, or about 71.5 cents per share at current valuations. You would anticipate the current Healthscope issues to have minimal to no impacts on these valuations.
Therefore the Healthscope Affected component is currently valued at about 5 cents at current share prices. Effectively, property valued at 86.5 cents about 6 months ago has now been marked down to only 5 cents, or about 6% of previous valuations.
All I can say is I've now become one of the bigger shareholders in the REIT (own about 0.1% of shares) at an average purchase price of 81 cents per share, over the last few weeks. The extremely bearish sentiment around this REIT has lost all rationality.
HCW Price at posting:
76.0¢ Sentiment: Buy Disclosure: Held
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