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Eureka Group Holdings Limited ( (AU:EGH) ) has issued an update.
Eureka Group Holdings Limited has announced the acquisition of Hillside Garden Village in Mount Richon, Perth, for $22.15 million. This acquisition, the company’s largest single-village purchase to date, expands Eureka’s portfolio by 200 sites and marks the introduction of their all-age rental model in Western Australia. The site offers strong rental income potential, with over 87% of revenues secured by long-term rental agreements, primarily with seniors. The acquisition is part of a broader strategy following a capital raise in October 2024, which has enabled Eureka to invest $73.5 million in acquiring eight communities, increasing their portfolio size by 29%.
The most recent analyst rating on (AU:EGH) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Eureka Group Holdings Limited stock, see the AU:EGH Stock Forecast page.
More about Eureka Group Holdings Limited
Eureka Group Holdings Limited operates in the real estate industry, focusing on the acquisition and management of rental communities. The company primarily offers residential home villages and seniors rental living communities, with a significant presence in Western Australia.
Average Trading Volume: 815,283
Technical Sentiment Signal: Hold
Current Market Cap: A$219.7M
For an in-depth examination of EGH stock, go to TipRanks’ Overview page.