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Eureka Group Holdings Limited ( (AU:EGH) ) has shared an announcement.
Eureka Group Holdings Limited has announced the acquisition of Coral Tree Lodge Tourist Park on the New South Wales South Coast for $6.7 million, with an initial yield of 8.6%. This acquisition aligns with Eureka’s strategy to expand affordable rental accommodations in regions with high demand, such as the Shoalhaven area, which is experiencing a rental shortage. The park offers potential for rental conversion and is expected to deliver a five-year unlevered IRR of 16.1%-18.6%.
The most recent analyst rating on (AU:EGH) stock is a Buy with a A$0.70 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 affordable rental accommodation. The company is known for its investments in mixed-use tourist parks and long-term rental properties, with a strategic emphasis on expanding affordable all-age rental accommodations.
Average Trading Volume: 1,284,142
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$237.5M
Find detailed analytics on EGH stock on TipRanks’ Stock Analysis page.