Analysts from financial firm Ord Minnett have revised their price target for the stock of Ingenia Communities (ASX:INA), raising it from A$4.47 to A$4.65.

Furthermore, Ord Minnett is retaining its ‘Buy’ rating on Ingenia’s shares.

The firm continues to see significant value in Ingenia’s shares, citing sturdy structural demand for their land lease communities in addition to robust asset valuations.

These are chiefly supported by persistent demand and continuous interest from mergers and acquisitions.

Ingenia, a company involved in managing holiday communities and providing senior-care rentals, is expected to announce their FY23 results on August 22.

At 0418 GMT, Ingenia’s shares traded down by a small margin of 0.25%.

Analyst perspectives on Ingenia’s shares vary, with four out of eight analysts recommending ‘buy’ or higher, two suggesting ‘hold’, and two advising ‘sell’ or lower.

The median price target among these analysts is A$4.40.

As per the most recent closing data, Ingenia’s shares have declined 9.17% this calendar year.

Ingenia Communities (ASX:INA) is a leading property group in Australia operating holiday communities and providing senior-care rentals.