SUM - Summerset Group

[Bjauck]

https://www.nzx.com/files/attachments/253843.pdf

To be fair MET's latest result and outlook doesn't look too bad. Heaps of embedded value that's for sure ! When you're the trailing horse of the field in terms of value and past development performance you've got plenty of room for improvement whereas how RYM provide outperformance from here given their perfected systems I have no idea whatsoever.

I still hold MET in part as a recovery shareholding.

[silu]

As NZ allows it, if you are a wealthy foreign investor looking for diversification and/or capital appreciation and/ or a potential safe haven, why wold you want the risk and hassle of tenants.

And in this quote is everything I hate about property and government (both major parties are responsible) in NZ. Makes me mad just thinking about it.

[Joshuatree]

We have a great prop manager who deals to everything for 7% of weekly Rental charge. ; real easy, top quality sevice;and great value.

[Onion]

Meters were "introduced" some years ago in Wellington on an optional basis. The deal included a lower base water charge for those who were metered and charged according to usage, ie it suited lower consumption but not heavy users of water. I don't know how successful this proved to be.

The council web site says that about 1200 properties have installed a water meter (so not very successful!).

I pay about $460 annually for water -- and additionally for both sewerage ($400) and stormwater ($240). For that I am allowed to drink, pee and storm as much as I like (sometimes I am told to hold the hose and not sprinkle).

[Beagle]

We have a great prop manager who deals to everything for 7% of weekly Rental charge. ; real easy, top quality sevice;and great value.

Definitely worth the money if you have a proactive good one...an awful lot of mediocre and worse performers in that industry in my experience.

Bjauck, yeah I picked up a few MET today just as a diversification strategy rather than getting too big in any one share in the sector. (Can't see any value in the other two).

I think the whole sector will do extremely well for the foreseeable future.

[Bjauck]

...
Bjauck, yeah I picked up a few MET today just as a diversification strategy rather than getting too big in any one share in the sector. (Can't see any value in the other two).
I think the whole sector will do extremely well for the foreseeable future.

So that explains the slight drop in SUM and the 3% increase in MET SP for the day!

[macduffy]

The council web site says that about 1200 properties have installed a water meter (so not very successful!).

I pay about $460 annually for water -- and additionally for both sewerage ($400) and stormwater ($240). For that I am allowed to drink, pee and storm as much as I like (sometimes I am told to hold the hose and not sprinkle).

Always good practice to hold the hose and not sprinkle.

[Beagle]

So that explains the slight drop in SUM and the 3% increase in MET SP for the day!

LOL I didn't sell any SUM. Ex divvy today...keep my snout close to the ground for any opportunity.

[trader_jackson]

Assuming $21m (+31%) underlying profit for F17 that's 6.3 cents a share and PE of 21/22 (not historical)

Seems like ARV is liked by the market already - even more so than SUM - good effort by the NE boy on the block

t_j will be pleased

Pleased for all the SUM holders, and very pleased with ARV, not only with their share price performance, but also that people are actually talking and comparing "the dog" ARV. Looking forward to Oceania Healthcare.

[Beagle]

Pleased for all the SUM holders, and very pleased with ARV, not only with their share price performance, but also that people are actually talking and comparing "the dog" ARV. Looking forward to Oceania Healthcare.

Article behind the paywall on NBR a few days ago about the owners looking for a trade sale or float. Owners and investment bankers have been talking about this behind the scenes for a very, very, very long time now. We'll see if it happens. Development book isn't great and that's where the real money is.