“It’s been a very good performing stock,” Williamson said. “It’s had seven years in a row of positive gains, so it has done well.”
The positive sentiment flowed through to fellow retirement village operator Ryman Healthcare, which gained 1.6 per cent to $13.30.
“Maybe investors are thinking that if Summerset is doing so well, then Ryman must be doing not too bad as well,” Williamson said.
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Summerset's Ellerslie retirement village in Auckland.
The benchmark index was pulled higher by a lift in the biggest stocks on the market.
Meridian Energy gained 3.5 per cent to $5.40 while Fisher & Paykel Healthcare rose 1 per cent to $30.30.