Effects of Unfavourable Media Appear to Be Waning. Aveo Remains Undervalued
Aveo’s share price has fallen following negative media in June 2017 and we view the stock as undervalued, trading at a meaningful discount to our AUD 3.10 fair value estimate. Accusations raised by the media focused on the minority of residents who own their units outright under a "freehold" contract in villages that Aveo acquired in August 2016. The accusations have no bearing on the majority of residents in villages where residents stay under "leasehold" contracts.Immediately following the me...
Aveo Group is engaged in the development for resale of land and residential, retail, commercial and industrial property, the investment in, and management of, income producing retail, commercial and industrial Property, commercial, industrial and residential building and construction for the Group, and funds and asset management. As of June 30, 2016, Co. operated in two segments: Retirement, which develops and operates retirement villages and aged care facilities to produce rental and other income; and Non-retirement, which develops residential, commercial and retail property.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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