Note that hospitals 2,3,4,5 in the download list are operated by Healthscope. The disclosed cap rates are all around 5-5.5% but I suspect the "real" cap rate should be around 6%, particularly with bonds at 4.5%. The current share price implies a cap rate of around 6.8% ... so that's around about a 9.8% ungeared IRR, or geared equity IRR of almost 12%. That's a steal in my view for these types of assets, if you think this will eventually resolve itself with little damage to HCW
HCW Price at posting:
94.3¢ Sentiment: Buy Disclosure: Held
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