Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
AVEO GROUP (AU), a company active in the Real Estate Holding & Development industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, defensive market behaviour. The title leverages a more favourable environment and raises its general evaluation to Positive. As of the analysis date October 22, 2019, the closing price was AUD 2.14 and its potential ...
The RBA cut interest rates for the first time since August 2016 lifting banks and many domestic cyclical names. Despite the bearish sentiment by analysts, the market posted another strong gain (3.7%) led by Resources, Healthcare and Financials. Global stock markets rallied by 6.6% has markets decided the Fed will provide a safety net for the global slowdown that is unfolding. The strong relative performance of Australia during the May global market correction and the solid performance d...
No-moat Aveo Group’s downbeat earnings update highlighted ongoing challenges facing the retirement operator. Subdued residential property markets are slowing settlements, leading the firm to lower fiscal 2019 earnings guidance. Other highlights include guidance for full-year dividends of AUD 4.5 cents per security, the confirmation of an indicative takeover offer for Aveo, and a change towards more conservative revenue recognition. Adjusting for the weaker short-term outlook results in a decre...
No-moat Aveo Group’s downbeat earnings update highlighted ongoing challenges facing the retirement operator. Subdued residential property markets are slowing settlements, leading the firm to lower fiscal 2019 earnings guidance. Other highlights include guidance for full-year dividends of AUD 4.5 cents per security, the confirmation of an indicative takeover offer for Aveo, and a change towards more conservative revenue recognition. Adjusting for the weaker short-term outlook results in a decre...
No-moat Aveo Group’s downbeat earnings update highlighted ongoing challenges facing the retirement operator. Subdued residential property markets are slowing settlements, leading the firm to lower fiscal 2019 earnings guidance. Other highlights include guidance for full-year dividends of AUD 4.5 cents per security, the confirmation of an indicative takeover offer for Aveo, and a change towards more conservative revenue recognition. Adjusting for the weaker short-term outlook results in a decre...
We reiterate our AUD 2.10 fair value estimate for retirement operator Aveo Group following transfer of coverage to a new analyst. Our no-moat, medium fair value uncertainty, and Standard stewardship ratings are retained. Negative media attention since June 2017 and near-term earnings risk centred on slower unit sale rates have weighed on sentiment, but the firm’s escalation in development activity could provide some upside earnings potential. The shares currently screen as fairly valued, tradi...
We reiterate our AUD 2.10 fair value estimate for retirement operator Aveo Group following transfer of coverage to a new analyst. Our no-moat, medium fair value uncertainty, and Standard stewardship ratings are retained. Negative media attention since June 2017 and near-term earnings risk centred on slower unit sale rates have weighed on sentiment, but the firm’s escalation in development activity could provide some upside earnings potential. The shares currently screen as fairly valued, tradi...
We reiterate our AUD 2.10 fair value estimate for retirement operator Aveo Group following transfer of coverage to a new analyst. Our no-moat, medium fair value uncertainty, and Standard stewardship ratings are retained. Negative media attention since June 2017 and near-term earnings risk centred on slower unit sale rates have weighed on sentiment, but the firm’s escalation in development activity could provide some upside earnings potential. The shares currently screen as fairly valued, tradi...
Aveo reported first-half fiscal 2019 underlying profit of AUD 12 million compared with AUD 36 million in the previous corresponding period, or pcp. Development was the major detractor, with earnings falling by AUD 10 million and profits booked from the divestment of noncore assets falling AUD 20 million. In many respects, the first-half 2019 financial result is a mere side-show, overshadowed by a potential part or even full sale of the business being progressed by Aveo’s investment bankers. In...
Aveo reported first-half fiscal 2019 underlying profit of AUD 12 million compared with AUD 36 million in the previous corresponding period, or pcp. Development was the major detractor, with earnings falling by AUD 10 million and profits booked from the divestment of noncore assets falling AUD 20 million. In many respects, the first-half 2019 financial result is a mere side-show, overshadowed by a potential part or even full sale of the business being progressed by Aveo’s investment bankers. I...
Aveo is one of Australia's largest owners and developers of retirement living units, with 93 villages and around 11,800 independent-living units and serviced apartments. Most of the group's earnings are derived from deferred management fees, or DMFs, which are paid when residents depart a retirement unit or serviced apartment. Earnings upside will come from a greater volume of newly developed retirement units, which are sold to incoming residents. The rollout of the Freedom model that provides a...
Aveo reported first-half fiscal 2019 underlying profit of AUD 12 million compared with AUD 36 million in the previous corresponding period, or pcp. Development was the major detractor, with earnings falling by AUD 10 million and profits booked from the divestment of noncore assets falling AUD 20 million. In many respects, the first-half 2019 financial result is a mere side-show, overshadowed by a potential part or even full sale of the business being progressed by Aveo’s investment bankers. In...
We reduce our fair value estimate for Aveo to AUD 2.30 after making further downward adjustments to our assumptions for the company’s build rate on increased concerns for the domestic residential property market. Long-term low auction clearance rates of about 45% on a national level and even lower in some cities combined with faster than anticipated falls in property prices have driven this revision. Meanwhile, credit growth is falling rapidly as funding is becoming increasingly difficult to o...
A director at Aveo Group Trust bought 989,366 shares at 1.603AUD and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clea...
We reduce our fair value estimate for Aveo to AUD 2.30 after making further downward adjustments to our assumptions for the company’s build rate on increased concerns for the domestic residential property market. Long-term low auction clearance rates of about 45% on a national level and even lower in some cities combined with faster than anticipated falls in property prices have driven this revision. Meanwhile, credit growth is falling rapidly as funding is becoming increasingly difficult to o...
Aveo is one of Australia's largest owners and developers of retirement living units, with 89 villages and around 11,000 independent-living units and serviced apartments. Most of the group's earnings are derived from deferred management fees, or DMFs, which are paid when residents depart a retirement unit or serviced apartment. Earnings upside will come from a greater volume of newly developed retirement units, which are sold to incoming residents. The rollout of the Freedom model that provides a...
We reduce our fair value estimate for Aveo to AUD 2.30 after making further downward adjustments to our assumptions for the company’s build rate on increased concerns for the domestic residential property market. Long-term low auction clearance rates of about 45% on a national level and even lower in some cities combined with faster than anticipated falls in property prices have driven this revision. Meanwhile, credit growth is falling rapidly as funding is becoming increasingly difficult to o...
Aveo reported fiscal 2018 underlying earnings of AUD 22 cents per security, slightly above June guidance of AUD 21.4 cents per security. The business has yet to fully recover from negative press 14 months ago. Newly completed units are taking longer to sell, resulting in a large buildup of unsold inventory on balance sheet totalling AUD 347 million at June 2018, compared with AUD 135 million a year prior. The sales rate of units upon resident departure is 7.5%, well down on the long-term average...
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