SUM - Summerset Group

[Timesurfer]

Generate were singing their praises in the last update and have been adding to their portfolio recently “at the expense of another - more expensive - aged care stock”

[minimoke]

After selling out last year at $6.40 to preserve my capital during a plunge I've re-entered the SUM family at $6.67 this evening. I'm a bit full of OCA and dont really want any more exposure there so figure I have to put SUM of my SML money SUM where else. My money is now on SUM doing better than SML. Lets see how this pans out!

[RupertBear]

After selling out last year at $6.40 to preserve my capital during a plunge I've re-entered the SUM family at $6.67 this evening. I'm a bit full of OCA and dont really want any more exposure there so figure I have to put SUM of my SML money SUM where else. My money is now on SUM doing better than SML. Lets see how this pans out!

Hope you are not part of that Bowling Club Mini!

[Beagle]

After selling out last year at $6.40 to preserve my capital during a plunge I've re-entered the SUM family at $6.67 this evening. I'm a bit full of OCA and dont really want any more exposure there so figure I have to put SUM of my SML money SUM where else. My money is now on SUM doing better than SML. Lets see how this pans out!

Welcome back mate. SUM stocks have proven management and a very well respected board, others have earned no respect after blindsiding shareholders and half the board are appointments from Bright Dairy who have their own agenda.

[Beagle]

Sizeable fall for SUM on Friday yet RYM did well. Back into the middle of the Couta1 50-60% relativity range now so probably good buying at ~ $6.50.
Forward PE only about 12 on my very early preliminary estimated 2019 underlying profit of $120m.
Probably the lowest forward PE the shares have ever traded on. TA looks reasonably supportive too.
Might park some former SML money here too....good companies with attractive metrics and TA and a consistent track record of growth and a well respected board are not exactly in over abundance on the NZX.

[BlackPeter]

Summerset expanding in the South Island and bought land in Rangiora and Blenheim. I'd see this as a good thing - both are nice places where retirees like to settle, though admittedly - they could have done a better job to review the annoucement before publication :

https://www.nzx.com/announcements/332408

Summerset has purchased land to build retirement villages in Rangiora, north of Canterbury, and Blenheim.

Hmm - last time I checked Rangiora was part of North Canterbury, NOT north of Canterbury ...

Mr Cook said Waimakariri District’s 75+ population was forecast to increase by 30% and Blenheim’s 26% over the next four years.

That's an amazing growthrate - "75+ population increasing by 30% over the next 4 years". I am wondering whether they put some aging agent into the water ;

Not sure, though what they really wanted to say - maybe they got the order of magnitude wrong? Lets hope that it was not the CFO who reviewed this announcement ...

[Beagle]

Multiple recent land acquisitions, (two others announced at the time of the annual result in late February), show SUM are gearing up for quite some considerable growth in the years ahead. I like how they're planning to execute that in regional N.Z. as the Auckland construction market is and will be under substantial pressure for many years. Happy holder.

[Grimy]

That's an amazing growthrate - "75+ population increasing by 30% over the next 4 years". I am wondering whether they put some aging agent into the water ;
.[/QUOTE]
Maybe a heck of a lot of 71-74 year olds live in the area...….

[macduffy]

That's an amazing growthrate - "75+ population increasing by 30% over the next 4 years". I am wondering whether they put some aging agent into the water ;
.

Maybe a heck of a lot of 71-74 year olds live in the area...….[/QUOTE]

Indeed they do. Both are preferred retirement locations, a la Tauranga/Mt Maunganui.

[Beagle]

Be interesting to see how their Q1 sales have gone.

Decided I felt I needed to do my bit to lift revenue for AIR and go and have a chat with Julian to see how things are going so winging my way down to the SUM annual meeting on 30 April. Heading down on the 9.00 a.m. flight to Wellington and if anyone wants to catch up and have a good chin wag with this dog, don't be shy, let me know Pretty sure Couta1 will be around so I'm sure there will be the usual drinkies afterwards.