"A broker's view"
http://www.stuff.co.nz/business/opin...view-summerset
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"A broker's view"
http://www.stuff.co.nz/business/opin...view-summerset
"The other major risk that retirement operators face is the prospect of retiree's living longer."
Another reason why underlying profit is such an important metric in this industry!
"The other major risk that retirement operators face is the prospect of retiree's living longer."
The Westpac "Old Flatties" advert might put them off....
That risk is often quoted but I'm not so sure it is all that significant. Operators can choose minimum entry age which is surely the defining and controllable factor. ADHB publishes this interesting list at http://www.adhb.govt.nz/seniorline/d...esAuckland.pdf which shows minimum entry ages varying from 55 to 70 in the Auckland region.
On move again
388 must be a new high
Good stuff
I can't wait for the $4.00 breach... getting close now. It will happen... but when...
Relatively small share numbers moving. RYM seems to have lost a bit of steam in this wake. Both will continue to do well long term. Supply and demand
I sold a few this morning.
I brought them on 12th Jan this year at $2.92,so they have been kind to me.
We will retain the wife's larger holding.
I think that's very good selling as its interesting to note that Craigs and First N.Z. are both projecting a very fulsome 400 new units being built next year which is a major uplift from 300 this year and most interestingly to the best of my knowlkedge this is unconfirmed by SUM itself...you would have thought if a company had of quietly mentioned to brokers analysts that they can facilitate such a substantial build rate uplift they would have done the right thing and appraised the market of this forward guidance, (is this another teenager mistake, you be the judge), but I think the 400 target is lofty given they're building out flat-stick at present on four of their key developments.
Even if they can build 400 units next year Craigs only value them at $3.71 and rate them a hold and the current PE is very close to RYM who in my opinion are arguably N.Z. premier growth stock with an enviable track record of 16 years of consistent growth and top level management and corporate governance...which in my book warrants a PE well north of SUM...go figure.
People a little obsessed with this years EPS growth and forgotten the patchy growth last year and maybe next isn't so flash either ?...you be the Judge.