Did someone just sell 500k plus shares?
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Did someone just sell 500k plus shares?
https://www.nzx.com/files/attachments/241628.pdf
Juicy dividend ...1.1c....
Great to see 150 units are well on track, probably completed in 1 to 2 years, not bad for a company with a capitalization 1/4th of SUM, and paying a near 5% dividend... what I really did liked to see (bold):
"Yesterday we received resource consent for the proposed Rhodes on Cashmere development which entails 28 apartments and a combination of 33 care suites and care beds. With the delivery of new care suites, we will be providing up to Hospital-level care in premium quality rooms."
- This part is nice, but what got me excited:
"This will enable us to place an ORA over the bed, thereby reducing our capital invested and improving investment returns to shareholders. We are also starting the process to implement the care suite model on existing beds within the portfolio."
- I would almost deem the bold above as price sensitive! Seems like ARV is about to make a whole lot more money on their care bed portfolio, both new and existing (quite a turn around from the few that had dogged this part of the business not long ago)...
With 94% occupancy across the portfolio, ARV are extremely efficient.
On another note, I found it interesting that the chairman noted: "We are mindful of external economic and political factors that could impact our economy and the concerns at the level of house price inflation and household debt in New Zealand." Lucky ARV are not on a huge building-spree, nor dramatically exposed to what some have labeled "the biggest ponzi scheme ever": Auckland Housing market... if these things do make a turn for the worst, ARV should be well sheltered, well at least compared to the bigger 3 (1 in particular mentioned before;))
There will be a few of us excited holders : Lets hope management keep performing :)
seems like there were a few people who waited till the final few minutes to read the meeting's address, in particular the bold above...;)
Whats going on with ARV t_j
Share price heading south again
Ouch. Depth of market supply is currently 9 times greater than market demand...