SUM, RYM: 2 NZX retirement village stocks gaining attention in March

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SUM, RYM: 2 NZX retirement village stocks gaining attention in March

Retirement villages
Image source: Gustavo Frazao, Shutterstock.com

Highlights

  • NZ retirement villages witness a continued strong demand for retirement living and aged care amid the ongoing pandemic.
  • Summerset Group Holdings reveals the exit of its director in April-end.
  • Ryman Healthcare boasts of having strong long-term growth plans.

New Zealand is home to a well-established network of retirement villages, which are purpose-built for the aged people and offer a range of lifestyle and care options.

These retirement villages not only provide adequate onsite security but also offer numerous facilities and instill a sense of belongingness among retirees.

With this overview, let us quickly take a glance at the two NZX-listed retirement village stocks that can be considered.

NZ retirement villages- SUM, RYM

Source: © 2022 Kalkine Media® data source- Refinitiv

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

Summerset Group Holdings Limited is New Zealand’s leading operator of retirement villages. Monday, its director, James Ogden, who is also the Chair of the Audit Committee, announced his retirement from the Board w.e.f. 27 April.

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Ogden has been associated with SUM for last 11 years and has contributed significantly to its growth and performance.

It is noted that Anne Urlwin will be appointed Chair of the Audit Committee after Ogden’s retirement.

At the time of writing on 22 March, SUM was down by 1.02% at NZ$11.660.

Ryman Healthcare Limited (NZX:RYM)

Another famous retirement village is Ryman Healthcare Limited, delivering a strong HY21 performance, with an 8.5% rise in its unaudited underlying profit, amounting to NZ$95.9 million and 32.5% growth in its IFRS profit, amounting to NZ$281.5 million, majorly on account of investment property revaluations.

Also Read: OCA, RYM, RAD: NZX retirement village stocks to watch amid Omicron surge

It had distributed an interim dividend last December and has adjusted its dividend payment range between 30%-50% of the underlying profit.

The Company boasts of having strong long-term growth plans with a pipeline of projects.

At the time of writing on 22 March, RYM was gaining by 0.31% at NZ$9.780.

Bottom Line

NZ retirement villages are working hard to safeguard their residents and teams during these uncertain times.

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