I bought a decent swag yesterday , after comparing this with Summerset who have higher debt ratios (gearing ) 30% as against 23% for Aveo of interest bearing liabilities (not inc resident loans ) / (assets (less receivables).+ net debt )
Summerset has a share price around 85% higher than its NTA while AOG is less than half its NTA per share .
Why buy one poxy house in NZ and probably have to shear the sheep , when you can buy 4 classy houses in Australia for the same money and less risk in regard to gearing ?
AOG Price at posting:
$1.84 Sentiment: None Disclosure: Held
