Added to YB: 2026-04-16
Pitch date: 2026-04-12
HCW.AX [bullish]
HealthCo Healthcare and Wellness REIT
-2.96%
current return
Author Info
No bio for this author
Company Info
HealthCo Healthcare & Wellness REIT (HCW) is a Real Estate Investment Trust listed on the ASX focused on owning healthcare and wellness property assets.
Market Cap
AUD 368.6M
Pitch Price
AUD 0.68
Price Target
1.07
Dividend
N/A
EV/EBITDA
N/A
P/E
-3.68
EV/Sales
11.28
Sector
Health Care REITs
Category
value
HEALTHCO HEALTHCARE AND WELLNESS REIT (HCW.AX) — A dollar for 50c
HCW.AX: Australian healthcare REIT at 50% NAV discount ($0.68 vs $1.37 NAV). Key tenant Healthscope (59% portfolio) in admin but making rent payments; alternative operators submitted proposals maintaining face rents w/ 10-15% incentive haircut. Base case: 12.5% income cut, 50bp cap tightening = $1.07 NAV (37% upside), 8-10% yield. 45% look-through LVR, 1.95x+ ICR. Catalyst: distribution resumption + receiver approval (6mo est). Risk: mgmt track record, rates, tenancy transition.
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