The reverse argument and the reason I continue to hold is - at current valuations arbitrage between the listed entity and the assets it is acquiring at an EBITDA yield of 11 - 14% is material. Given they can squeeze a few extra percent out of the assets through operational inefficiencies and economies of scale; i.e. clusters of retirement villages.
It is not without its risk given it relies on equity currency but it has the institutional support to achieve a successful roll up.
Early days and I am happy to let this one play out for a few more years.
Good sector, strong management, sticky revenues, pricing power, still cheap, page-15
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Last
53.5¢ |
Change
0.005(0.94%) |
Mkt cap ! $162.5M | |||
| Open | High | Low | Value | Volume |
| 53.0¢ | 53.5¢ | 52.5¢ | $16.34K | 30.85K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 20833 | 49.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 54.0¢ | 179406 | 1 |
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| Last trade - 15.55pm 28/06/2024 (20 minute delay) ? |
| EGH (ASX) Chart |