SUM - Summerset Group

[Beagle]

OMG ....median house price FELL in January (from December)

https://www.reinz.co.nz/Media/Defaul...ary%202021.pdf

Don't panic mate, Bindi has some soothing words for you

Bindi Norwell, Chief Executive at REINZ says: “Usually, in
January the residential property market slows down, and
prices ease off a bit as people head to the beach for their
summer holidays. However, the first month of 2021 was
anything but normal, as house prices across the country have
continued to rise with January seeing four regions reach new
record median prices and one region equal its December
record. Furthermore, 27 districts around the country reached
new record high median prices, with 13 of those districts
exceeding last month’s record.

[James108]

I imagine less expensive houses are sold in January as all rich folks have gone to their bach? Whereas us peasants are still here in the ghettos fighting over the $1m slums.

[thegreatestben]

It's just harder than it needs to be for all the steps to sell through the end of December and January. We see the same reduction in our data at work which is housing related November 2020 was the biggest month for us December wasn't far behind.

[winner69]

Profit of $238m for year pretty good effort ....up 32% on FY19


Well done Summerset

http://nzx-prod-s7fsd7f98s.s3-websit...001/340887.pdf

[MauroNZ]

Profit of $238m for year pretty good effort ....up 32% on FY19

Well done Summerset

And I sold too early in August :S.

[peat]

Profit of $238m for year pretty good effort ....up 32% on FY19


Well done Summerset

http://nzx-prod-s7fsd7f98s.s3-websit...001/340887.pdf

driven by an investment property revaluation uplift of NZ$221.1 million on Summerset’s retirement village assets for the year

[winner69]

driven by an investment property revaluation uplift of NZ$221.1 million on Summerset’s retirement village assets for the year

It is a property company

At least running villages and looking after people didn’t seem to cost them that much.

[James108]

Bit disappointed with result, sold some at open. Still a great company and my largest holding but now trading at slightly above fair value in my view.

[Beagle]

http://nzx-prod-s7fsd7f98s.s3-websit...001/340889.pdf

Julian Cook and Rob Campbell have been instrumental in creating a huge amount of value for shareholders over the years. Well done and a big thank you.
They have positioned SUM to grow strongly in the years ahead, the last statement on page 19 is interesting.

I feel the shares are fully valued at this point but nonetheless a sound long term hold. ( I prefer OCA and ARV and feel they are undervalued compared to SUM and RYM)

[Ggcc]

http://nzx-prod-s7fsd7f98s.s3-websit...001/340889.pdf

Julian Cook and Rob Campbell have been instrumental in creating a huge amount of value for shareholders over the years. Well done and a big thank you.
They have positioned SUM to grow strongly in the years ahead, the last statement on page 19 is interesting.

I feel the shares are fully valued at this point but nonetheless a sound long term hold. ( I prefer OCA and ARV and feel they are undervalued compared to SUM and RYM)

Good things take time and people will be more interested years after proving themselves. They will go up slowly and then all of a sudden boom, people will catch on.