Yeah there's nothing spectacular about what happens here and it's about as safe as any of the REIT's. The ongoing social requirements for infant care is well recognized by the Governments of the day which means that they stay supportive of public requirements.They have debt of about $350m which has grown steadily over time as a result of their development program. It's not been an issue before with interest rates down at the bottom of the ladder but rate increases are now starting to make a difference. They have made mention of their "hedging disciplines" which have contributed to supporting the rate increases but, even so, their interest bill was around $5.6m for the full 2022 year and $4.3m for the six months ended in December 2022 which suggests that the number for the full 2023 year may approximate $9m - $10m.The dividends have increased about about 5% each year until now but the interest rates may curtail dividend improvements for the next couple of years.
ARF Price at posting:
$3.85 Sentiment: Hold Disclosure: Held
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