How are 3 NZX retirement villages faring amid Omicron outbreak?

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How are 3 NZX retirement villages faring amid Omicron outbreak?

retirement villages
Image source: Gustavo Frazao, Shutterstock.com

Highlights

  • NZ houses a host of well-managed retirement villages which offer quality care for its elderly residents.
  • Arvida Group confirms the divestment of its three retirement villages.
  • Ryman Healthcare announced a strong half-year performance, underpinned by resale earnings.

New Zealand boasts having world-class healthcare facilities. It has a strong network of rest homes to take care of its aged population and offers a range of living and care options.

Despite facing challenges of the pandemic, the country’s retirement villages operators witnessed continued demand for new units and aged care, thereby resulting in their growth.

Moreover, these villages continue to work hard to keep their residents safe by developing additional safeguards like rapid antigen testing, timely vaccinations, etc., thus, trying their level best to keep the virus infection at bay.

With this overview, let us walk through the three popular retirement villages worth considering amid the pandemic.

NZX retirement villages: ARV, SUM, RYM

Source: © 2022 Kalkine Media® data source- Refinitiv

Arvida Group Limited (NZX:ARV)

First on the list is Arvida Group Limited, which offers a range of living options and rest homes to suit the needs of its residents. Some time ago, the retirement village operator had affirmed the settlement of the divestment of its Rangiora-based three retirement villages, including Bainswood House and Bainlea House.

Must Read: Arvida (NZX:ARV) Did the Company report solid 1H22?

ARV’s portfolio has now been reduced by 14 serviced apartments and four villas.

At the time of writing, on 18 January, Arvida Group was up by 0.52X% at NZ$1.920.

Summerset Group Holdings Limited (NZX:SUM; ASX:SNZ)

Next, we will talk about Summerset Group Holdings Limited, which houses over 6,600 residents in its various retirement villages spread across the country. Recently, it has announced to publish its FY21 performance on 24 February.

It is noted that the Company had also released its 4Q21 metrics wherein it revealed that the sales for the fourth quarter remained strong, in spite of lockdown and restrictions across the Auckland and Waikato regions.

Also, it will commence the construction of its four new sites this year.

At the time of writing, on 18 January, Summerset Group Holdings was down by 0.60% at NZ$13.15.

Ryman Healthcare Limited (NZX:RYM)

Last on the list is Ryman Healthcare Limited, which has been providing retirement living options for more than 35 years. Last month, it had disclosed its half-year result ended 30 September 2021, wherein its underlying profit was recorded at NZ$95.9 million, up 8.5% on pcp.

Related Read: Are these 5 NZX mid-cap aiming to become large-cap stocks?

This was majorly on account of resale earnings, which reflected increased pricing and higher volumes.

Its total assets rose by 18.1% to NZ$9.85 billion from September 2020, and RYM boasts a strong pipeline of projects with 11 new villages coming up in the future, thus maintaining its future momentum.

At the time of writing, on 18 January, Ryman Healthcare was up by 1.27% at NZ$11.93.

Bottom Line

NZ retirement villages have coped well during these difficult times and are committed to safeguarding the health and welfare of their residents.

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