NTA of $1.58 per security provides a good safety net.
as only 1/2 the income comes from Healthscope if it collapsed and we write down the carrying value of those assets to ZERO then the NTA becomes 79c or about where we are now (81.5c)
but of course you can't write down all the assets to Zero. Some of the Healthscope assets are profitable and will be taken over by others. so will some unprofitable ones which may require HCW to negotiate lower rents.
if a property becomes completely unviable as a hospital then you then have a well located development asset.
surely all those values would be worth more than the 2.5c the market currently places on the at risk HCW assets?
HCW Price at posting:
81.5¢ Sentiment: Buy Disclosure: Held
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