HGH - Heartland Group Holdings

[LaserEyeKiwi]

Picking bottoms is a grubby pursuit.

Much better to pick a rising trend..... at the end of the day missing out on 1 to 2% by being cautious is preferable to being wrong.

At present any HGH  holding with a av SP below $1.00 av cost,  is looking "well positioned."

ps Clever new television ads for HGH reverse mortgages screening at present look  likely to boost demand

Complete fluke I got a chunk at 72c

[Left Field]

Complete fluke I got a chunk at 72c

Well done....Craigs reckon your shares now worth almost double that.

"At a current one year forward PE of 11.8x (vs sector average 18x) with a cash dividend yield of 5.4%  Overweight rating $1.38"

[LaserEyeKiwi]

new 52 week high

[Basil]

Goodness me.  According to a behind the paywall article in the Herald today Jeffrey got a lavish golden farewell handshake / parachute of $4.1m.  Maybe this is not new news but this seems OTT to me considering the legacy of bad loans he left behind him such that dividends have been severely impeded.
https://www.nzherald.co.nz/business/companies/new-zealands-highest-paid-ceos-17m-payday-smashes-records/premium/HL72BF5WQVCUVBCXBTCOCYXWFQ/
Excerpts "and a $4.1m "retirement payment" to outgoing Heartland Group Holdings boss Jeffrey Greenslade"
Greenslade's pay packet for the 2025 financial year was enough to see him claim sixth place on the list of highest-paid chief executives, despite retiring from Heartland in September 2024....(a date brought forward from December 2024 so in my opinion he didn't have to face the music at the October 2024 annual meeting).

He got barely a mention in the meeting but was lavished with $4.1m farewell payment by the board.
I imagine some of that was contractually based but it would appear to me there is probably a large ex gratia payment in there as well.  Nice that the board feel so generous to senior management while at the same time giving shareholders a massive haircut to their dividend.  If they're so generous with the CEO just imagine how far that generosity filters right down through all the layers of management ranks on both sides of the Tasman.  Hmmm.

Someone needs to look up the annual report and find out how many staff are earning more than the Prime Minister, how many on $500K plus ?

[Left Field]

Interesting read

https://www.deloitte.com/au/en/about/press-room/deloitte-australian-reverse-mortgage-survey-090326.html

Australians over 60 are sitting on $3 trillion in home equity, including around $600 billion that could be unlocked through structured equity release products to boost retirement incomes and help older Australians stay in their homes, a new report has found.

Produced in collaboration with lenders Heartland Australia Bank, Gateway Bank and Inviva, Deloitte's 2026 Australian Reverse Mortgage Survey found reverse mortgages are used to access just 1% of the potential equity available via equity release products to eligible Australian households.

[Left Field]

German investors write up HGH as an opportunity for a niche lender likely to benefit from global tailwinds.

https://www.ad-hoc-news.de/boerse/news/ueberblick/heartland-group-holdings-niche-lender-with-global-rate-tailwinds/68620818#google_vignette

[Left Field]

Talk on the other channel, (and it is just talk,) of HGH shifting its primary listing to the ASX and/or 'selling off' a share of its Aus assets  (with a view to both raising more capital and maintaining a majority holding within the revised HGH structure.)

Just talk maybe, but I like it.

[Ferg]

They will need to do something like that (as in selling off a share of the Australian assets) if they want to avoid another capital raise IMO.  Either that or the ASX will give them access to more capital to enable another CR.  As much as I love compound interest, interest on a growing reverse mortgage book doesn't pay the bills.  The proof of RM's being a cash drag are all there in the historical financials.