Ingenia Communities Group (ASX:INA) benefit from ease of restrictions - Sequoia Direct Pty Ltd

27MayMay 27, 2020

Ingenia Communities Group (ASX:INA) benefit from ease of restrictions

Ingenia Communities Group (ASX:INA) reports that they are continuing to benefit from recurring revenue streams from a stable rental base of 4,000 income producing sites, largely underpinned by Commonwealth Government pension payments and rent assistance.

The Group is Ingenia’s seniors rental (Ingenia Gardens) and Ingenia Lifestyle communities have continued to provide uninterrupted cash flows, with Ingenia Gardens’ occupancy reaching an all-time high of over 93.5 per cent.

The Group’s holiday parks will now be open for the upcoming school holidays, with NSW parks also open for the June long weekend after recent announcements by the NSW and QLD Governments advising that holiday parks are able to open from 1 June and 12 June.

Shares in Ingenia Communities Group (ASX:INA) are trading 0.25 per cent higher at $4.09.

Copyright 2020 – Finance News Network

Source: Finance News Network

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