Citi reiterates 'buy' on Australia's Ingenia Communities on rate cuts view

Ingenia Communities

21/07/2025 05:29

Updates

** Citi reiterates 'buy' on Ingenia Communities Group INA.AX; says operating environment could improve going forward due to rate cuts

** INA currently down 0.8% to A$5.21, while the broader ASX200 benchmark index .AXJO lost 1.1% as of 0418 GMT

** Earlier, INA gained as much as 2.3%, hitting highest level since July 4

** "INA is our top pick in the land lease space, and we see upside potential heading into results as we expect INA to beat FY25 EPS guidance of 29-30c" - Citi

** Brokerage trims the property developer's earnings estimates but remains 2-2.5% ahead of the consensus for 2025-2027

** Adds stock lost about 3% in the past three months and is underperforming the REIT sector and residential peers

** Five of eight analysts rate the stock "buy" or higher, two "hold", and one "strong sell"; their median price target is A$6.11 - data compiled by LSEG

** Stock is up 14% YTD, including the day's move

 (Reporting by Anjali Singh and  Rajasik Mukherjee in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))