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  1. #7831
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    Quote Originally Posted by Beagle View Post
    LOL BP - Told you SUM people would try and put their own creative spin on the numbers. These same people probably have very little understanding of the company or how it operates and its probably never occurred to them that property developers can do very well even in a flat market as they can procure land, building supplies and manpower at cheaper prices.

    People will see what they want to see. For example - disaffected renters will probably always be hoping for and seeing a pending property crash in the hope they may one day be able to afford a house of their own.

    Julian told me after the meeting he is confident of earnings growth this year and with the company track record and trading on a forward underlying PE of 11-12 that's plenty good enough for me.
    Still rated as BBB?

  2. #7832
    Gnawing on Bones Beagle's Avatar
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    Quote Originally Posted by MauroNZ View Post
    Still rated as BBB?
    Rating has been upgraded to HHH which is better than BBB or even AAA

    HHH = Happy hound holder
    Last edited by Beagle; 15-05-2019 at 05:37 PM.
    No butts, hold no mutts, (unless they're the furry variety).

  3. #7833
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    SUM at 560 pretty good value

    Slightly underpriced but will still increase over next year in line with earnings growth so 630/640 likely by year’s end.

    ...but you never know the world might go mad and rerate it a bit ...then 770 is on cards mid next year
    ”You can't cross the sea merely by standing and staring at the water.” -Rabindranath Tagore

  4. #7834
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    “Seeing the world anew”- the seeing of new patterns- is one of our most important survival skills, and is something that we all need to include in our thinking.
    ”You can't cross the sea merely by standing and staring at the water.” -Rabindranath Tagore

  5. #7835
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    Quote Originally Posted by winner69 View Post
    SUM at 560 pretty good value

    Slightly underpriced but will still increase over next year in line with earnings growth so 630/640 likely by year’s end.

    ...but you never know the world might go mad and rerate it a bit ...then 770 is on cards mid next year
    I'm thinking a lot further out than one year, (for a change lol), but that's pretty much how I foresee it travelling in the short term.
    No butts, hold no mutts, (unless they're the furry variety).

  6. #7836
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    When it comes to house price trends there really isn’t that much difference between the gold standard and the numbers real people use

    Then again QV have another series.
    Attached Images Attached Images
    ”You can't cross the sea merely by standing and staring at the water.” -Rabindranath Tagore

  7. #7837
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    Quote Originally Posted by winner69 View Post
    When it comes to house price trends there really isn’t that much difference between the gold standard and the numbers real people use

    Then again QV have another series.
    Love your charts winner, just goes to show the quibbles over a few % here or there are nonsense. Look at the trend! Wow. No sign of reversing into the doldrums, and with RBNZ slashing OCR and banks debasing mortgage interest rates, ballyhoo, property continues to be the best investment in NZ. Or listed property companies of which there are a few special ones we like.
    BAA

  8. #7838
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    Quote Originally Posted by BlackPeter View Post
    OK - I obviously realise that some people here are desperate to spread fear and generally love to emphasize anything which could be interpreted as bad news. I hope you have fun ...
    Thats rubbish BP these were news items from ASB's site this morning but sorry if it wasn't balanced.

    My portfolio includes retirement stocks but until I see clarity on property prices and the Govt's intentions regarding LandBankers will watch from sidelines.
    Last edited by dreamcatcher; 16-05-2019 at 12:59 AM. Reason: corrected spelling

  9. #7839
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    Quote Originally Posted by dreamcatcher View Post
    Thats rubbish BP these were news items from ASB's site this morning but sorry if it wasn't balanced.

    My portfolio includes retirement stocks but until I see clarity on property prices and the Govt's intentions regarding LandBankers will watch from sidelines.
    I tend to call a spade a spade. If that's what you call "rubbish", be my guest ...
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  10. #7840
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    https://www.sharetrader.co.nz/attach...4&d=1557906661

    Picture says a thousand words. QED.
    No butts, hold no mutts, (unless they're the furry variety).

  11. #7841
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    Quote Originally Posted by Beagle View Post
    Rating has been upgraded to HHH which is better than BBB or even AAA

    HHH = Happy hound holder
    Cool, just curious if the current price is still a good buy.

  12. #7842
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    Quote Originally Posted by winner69 View Post
    SUM at 560 pretty good value

    Slightly underpriced but will still increase over next year in line with earnings growth so 630/640 likely by year’s end.

    ...but you never know the world might go mad and rerate it a bit ...then 770 is on cards mid next year
    That's what my gut says, how do you see it from the TA?

  13. #7843
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    Quote Originally Posted by MauroNZ View Post
    Cool, just curious if the current price is still a good buy.
    Yes absolutely. I think there is compelling value on offer around $5.60-$5.70.
    No butts, hold no mutts, (unless they're the furry variety).

  14. #7844
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    Quote Originally Posted by winner69 View Post
    When it comes to house price trends there really isn’t that much difference between the gold standard and the numbers real people use

    Then again QV have another series.
    I don't know when, but this is not good, house prices can't keep rising forever, something is going to happen. Is not a wish nor down ramping but just a huge concern.
    Interesting documentary:

    https://www.youtube.com/watch?v=HzSAmOQuyjU

  15. #7845
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    Quote Originally Posted by MauroNZ View Post
    I don't know when, but this is not good, house prices can't keep rising forever, something is going to happen. Is not a wish nor down ramping but just a huge concern.
    Interesting documentary:

    https://www.youtube.com/watch?v=HzSAmOQuyjU
    I am an investor in three of the ORA providers. Barring a major correction I am happy with that as there business is not just about land price increases.

    However, given NZ households’ major dependency on real estate investment and its reliance on untaxed (leveraged) capital gains to provide a large proportion of its return, I am concerned any further increase at this stage may mean a more dramatic correction.

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