Yeah it's reasonably valued on an earnings growth basis. Arguably undervalued even at $4.20, div yield is still just under 3% which is high for such a high-growth company, and off a fairly low payout ratio (relative to other sectors).
My point was more around cost of equity vs cost of debt. Debt is cheap at the moment, but at this share price equity is cheap too. Holders often feel diluted when a company goes for equity over debt but I don't think there will be complaints this time around. I also like how they've reversed the traditional CR dynamic - most companies would offer $100M+ to sophs and then a token $20M or so SPP for retail holders, usually capped at $15k, but INA has done the opposite.
Ann: Ingenia Communities Retail Entitlement Offer, page-6
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Last
$5.02 |
Change
0.000(0.00%) |
Mkt cap ! $2.046B | |||
| Open | High | Low | Value | Volume |
| $5.04 | $5.05 | $4.96 | $3.186M | 634.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3588 | $5.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.07 | 4666 | 3 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| INA (ASX) Chart |