Morningstar raises fair value estimate on Australia's Ingenia Communities

Ingenia Communities

03/10/2024 24:05

** Analysts at Morningstar raise fair value estimate for
Australian property developer Ingenia Communities  INA.AX  by
15% to A$5.30 from A$4.60
    ** Raises estimate after taking a fresh look at our cost of
equity assumptions for our Australian land lease coverage —
brokerage
    ** "We estimate an operating income compound annual growth
rate of 11% over the decade to fiscal 2034," Morningstar
    ** Brokerage also lifts margin assumptions for the rental
business, now 58% at the midcycle from 55% previously
    ** Six of nine analysts rate the stock "buy" or higher, two
"hold" and one "sell" or lower – data compiled by LSEG
    ** Stock has risen 12.8% YTD, as of last close

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))