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INA, INGENIA COMMUNITIES GROUP
blacksheep
post Posted: Nov 13 2019, 11:44 AM
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FWIW - Lifestyle Communities: Goldman Sachs raises price target 21 per cent
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Robert Guy

Retirement living provider Lifestyle Communities has earned a 21 per cent upgrade to its price target from Goldman Sachs, while the broker lifted its target for Ingenia by 14 per cent.

The broker lifted its target on Lifestyle Communities to $10 a share, citing accelerating capital recycling that should allow the company to deliver at least two communities a year.

Goldman says the company remains self-funding with no need for additional equity, adding that its growing annuity asset base and contracting cap rates should allow it to debt-fund land acquisitions and developments.

The greater-Melbourne area also provides the company a strong tailwind because it has a lot of flat land available for development, higher population growth than the national average, and a growing proportion of retiree-aged people with no retirement savings outside the family home.

Goldman Sachs also lifted their price target on Ingenia Communities by 14 per cent to $5 a share.

The broker said the company is well-placed to grow at around 10 per cent a year as it focuses on developing its strong on-balance sheet pipeline and joint venture greenfields projects.

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Jul 1 2019, 11:54 AM
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QUOTE
Ingenia Communities Group is set to expand into funds management via the acquisition of Queensland-based Eighth Gate Funds.

It is understood Ingenia has agreed terms to acquire Eighth Gate Funds, which was founded by former Mirvac executive Nick Bonifant and has control of six unlisted property funds.

The acquisition will see Ingenia take control of about $140 million in assets under management. The underlying assets include 10 holiday and lifestyle communities sites picked up over the past five years.


Ingenia Communities, which owns lifestyle parks including the over-55s Ingenia Lifestyle Stoney Creek village in western Sydney, is moving into funds management. Louise Kennerley

Ingenia will pay $17 million for the business and will co-invest in each of the six unlisted funds. It expects to receive about $2 million a year in management fees.

The deal is expected to be announced on Monday.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Feb 20 2019, 06:10 AM
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QUOTE
Ingenia Communities said revenue and operating profit jumped in the six months to December on the back of higher settlements and rental payments, even as falling property valuations pulled net profit lower.

The producer of budget accommodation for retirees said revenue rose 21 per cent to $93.4 million and operating profit before interest and tax jumped 19 per cent to $22.9 million as customers who were selling their homes to buy in to its communities were mostly from regional areas that were less affected by the falling property markets of Sydney and Melbourne.

"There's no doubt if we were in the trading conditions of 12 to 18 months ago, settlements would have been materially higher," said chief executive Simon Owen. "But I do think a lot of the price weakness is really in the upper end of the market, particularly in Melbourne and Sydney, whereas we tend to operate at the more affordable end. We've got 10 projects in market, we're delivering a high-quality affordable product and we've got some geographic diversity – I think that's giving us opportunity to continue to grow."

The results show the relative resilience of developers targeting home owners in outer suburbs, where property value gains are less. The slowing market also affected the company. Ingenia's net after tax profit dropped by almost a quarter to $13 million, as its property portfolio took a $6 million write-down in on investment values and the failure of a planned 247-home expansion of its Avina community in western Sydney's Vineyard.

"There's no doubt that we are in challenging residential markets and they are continuing to deteriorate," he said. "There's no near-term catalyst from our perspective on what's going to turn the market around. We've had to be very flexible."

That flexibility included offering rent holidays of up to six months – in "three or four" of the 10 projects it is marketing – to induce customers to buy and removing the third bedroom from some new homes to make them more affordable. "It's all driven around affordability, and also a call to action," he said. "You've got to really try and appeal to people's frugality."

These measures would help the company meet the guidance it previously gave for the year of 350-plus settlements for the year to June, he said. It also said it had exchanged contracts to purchase a 6.8-hectare development site adjacent to its existing community in Lara near Geelong, as well as an established mixed-use park near Byron Bay in NSW.
The company declared an interim dividend of 5.4¢, up 6 per cent on the 5.1¢ it paid a year earlier.
The shares rose 3¢, to $3.15, bringing their cumulative gain over the past 12 months to 21 per cent.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Feb 2 2019, 08:11 AM
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QUOTE
Ingenia Communities

Long-term readers of this column will know that Under the Radar has long been a big fan of this retirement accommodation operator, where the yield is low ... at 3.6 per cent.

What you get in return is a company with a recurring revenue stream and strong development pipeline supported by demand from retirees with a limited budget. In its innovative model, Ingenia offers accommodation based on either a land or lease model where a person buys a home within an Ingenia community and rents the land on which the home sits on, or just rents the home.

Richard Hemming is an independent analyst who edits www.undertheradarreport.com.au



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jun 26 2018, 03:24 PM
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Ingenia Communities Group (ASX:INA) today announced that the Group expected to exceed

its FY18 guidance and was well placed to continue its established track record of growth with

progress on two additional asset sales and the successful refinance of the Group's funding facility.

QUOTE
Guidance for FY18 underlying earnings per security (EPS) increased from >15.6 cps to >17.2 cps (up 10% on previous guidance and up 32% on prior year)

- Forecast 280-285 new home settlements for FY18, up 33% on prior year and above guidance

- Close the year with 160 deposits and contracts in place (up 19% on prior year)

- Remain on track to deliver 350+ settlements in FY19 (up 25% on FY18)

- Debt facilities refinanced, providing longer tenure and increased loan capacity

- Contracts exchanged for additional $24.5 million in non-core asset sales

- yeah, but ... all pitched at the 'squeezed retiree' and assumes Age Pension and the Rent Assistance component. Who's to say this is a given, in the future (it is a cash strapped Govt, after all)?



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: May 3 2017, 08:38 AM
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Retirement village and holiday park owner Ingenia Communities Group will seek to raise $74 million via an underwritten institutional placement and rights issue via brokers Moelis, Morgans and Petra Capital.

Funds would go towards the purchase of four established lifestyle parks, including two in the rapidly growing Brisbane market. The acquisitions will include 740 income producing sites and 320 development sites bringing the total to 2600 homes across the group.

Ingenia is also increasingly turning its eye to greenfield opportunities and they are expanding their development pipeline with a fully approved 196-site development south of Coffs Harbour.
Ingenia will issue the new shares at $2.60 each



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 

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nipper
post Posted: Feb 16 2013, 04:31 PM
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Ingenia Communities Group is believed to be working on a new property acquisition which would see it invest proceeds from recent asset sales in the US into Australian assets.The property group’s shares are in a trading halt until Monday, to allow two material transactions involving a number of parties to close.

Investors look to Ingenia receiving proceeds from its recent New York sale, worth about $50 million, and investing the money into retirement village assets in Western Australia. Ingenia has been looking at a number of WA opportunities, believed to have come from distressed debt investor Fortress Investment Group.

Ingenia is the $130 million real estate investment trust formerly known as ING Real Estate Community Living Group. Ingenia has gone through massive change in the past two years, including a change in management, shedding offshore assets and gradually closing the gap between its share price and net tangible asset valuation.
and having manageable debt; the NTA is around 36c and current S/P just below 30c,





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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
ShareScene.com
post Posted: Jun 15 2012, 01:35 PM
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Company name updated:

From: ING REAL ESTATE COMMUNITY LIVING GROUP (ILF)
To: INGENIA COMMUNITIES GROUP (INA)

Regards, ShareScene.com

 
wren
post Posted: May 7 2010, 03:44 PM
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In Reply To: wren's post @ May 7 2010, 03:34 PM

tax,
If you like property,try and buy at the 'bail out' price when cash is injected by the big guys.
I bought MDT today at 0.055--the same price as some Israeli lads who are kicking in some much needed capital.At least it's a chance !

 
wren
post Posted: May 7 2010, 03:34 PM
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In Reply To: tax123's post @ May 7 2010, 11:12 AM

Hi tax,
Think you should examine ING's form.Other than the Health trust,their other listed entities have lost an absolute fortune,with original investors having their shirts ripped off.These trusts were bailed out with cash injections that diluted the interests of smaller investors to a figure close to zero.ING also got into a heap of trouble in Europe.Despite ING's alleged size and influence they did not tip their own cash into the troubled trusts.Further,the finance deals they came up with were about as good as the local Bendigo Bank manager might be able to arrange.
Ditto for GPT---still has plenty of debt and no signif.capital growth ahead.

 
 


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