NZX Retirement Village stocks to watch amid Omicron surge
New Zealand has well-run and well-equipped retirement villages. These retirement communities were the first to achieve 100% vaccination programs.
Image source: © 2022 Kalkine Media
He completed all his vaccination formalities on time and is well on his way to securing the retreat villages from the Omicron wave.
In that context, let’s take a look at these three retirement village stocks.
Ryman Health Limited (NZX: RYM)
RYM is a provider of well-equipped retirement villages throughout New Zealand. It is home to over 12,800 residents in Australia and New Zealand. It recently announced its plans for expansion into Australia where it plans to build a 155 million Australian dollar integrated village. In its recently announced 1HFY22 results, RYM revealed strong performance and improved profitability. He reported increased demand for the aged care facility. RYM’s half-year results reflect underlying profit of NZ$96 million, up more than 8%.
Also read: How is Ryman (NZX:RYM) progressing with the retirement village expansion?
On March 15, the stock was down 1.36% at NZ$9,430, at the time of writing.
Also Read: What Are The 5 NZX Healthcare Stocks To Look Out For Before 2022?
Radius Residential Care Limited (NZX:RAD)
RAD provides healthcare facilities for the elderly. In its 1HFY22, it announced that it had acquired four facilities with a capital raise of NZ$48 million. Recently, it acquired a 69-bed facility in Ivercargill. The occupancy rate was higher than the industry average in its facilities. Soon, the Company plans to start its Brownfield development on its new sites. It will begin its Brownfield development at four sites.
Also Read: How Are NZX Retirement Village Stocks Doing in December 2021?
On March 15, the stock was trading at 0.395 at the time of writing.
Oceania Healthcare Limited (NZX:OCA)
Oceania Healthcare posted robust results for the six months ended September 30 versus pcp. It recorded a 19.7% increase in EBITDA to NZ$36.5 million and a 22% growth in NPAT to NZ$27.5 million compared to pcp.
OCA declared an interim dividend of 2.1cps in December 2021.
On March 15, the stock was trading down 1.89% at NZ$1.040, at the time of writing.
At the end of the line
New Zealand has a well-developed retirement village industry. Over the past 2 years, the villages have protected their inhabitants from the waves of COVID-19. The villages were the first to achieve 100% vaccination for their elderly residents.