What Does Estia Health Do?
Estia Health Limited [ASX:EHE] is an aged care provider that operates a network of retirement homes. The majority are in Victoria, but the company also operates in South Australia, New South Wales and Queensland. It’s looking to grow its portfolio of assets.
What is Happening to Estia Health’s Share Price?
The company only listed on the Australian Stock Exchange in December of 2014. After making a low of $4.75 in January of this year, the stock has moved up strongly to trade over $6 today.
On March 6, S&P Dow Jones Indices announced its Quarterly Rebalance of the S&P/ASX Indices. Estia Health is now included in the S&P/ASX 200 Index and S&P/ASX 300 Index. Fund managers that have a mandate to only invest within the top 300 shares may now consider Estia Health.
What Now for Estia Health Shares?
The company, according to its half year report released in February, is on track to meet its projected results as forecast in its prospectus. With Australia’s baby boomer population ageing, Estia looks well positioned to capitalise on this key demographic trend.
Editor, Markets and Money