MET - Metlifecare - one for the fundies?

[janner]

Agree CJ. MET has long been on my To Buy list.. No funds available :-((..

If starting today ... It would still be well up on my to buy list..

Unfortunately.. Happy riding the HNZ rise at present until ???????.. Two years ??..

Monies coming in . !!.. " So little coming in .. ( to many DRP's ) So many opportunities..

MET run hasn't been as good as the others and is trading at a discount to the others. That is justified historically but I think this latest result shows they have turned a corner - much better cash flows, sales up. The only think they need to do is up the build rate and continue the improvements they have been making.

[CJ]

MET run hasn't been as good as the others and is trading at a discount to the others. That is justified historically but I think this latest result shows they have turned a corner - much better cash flows, sales up. The only think they need to do is up the build rate and continue the improvements they have been making.

article in the NBR suggests I am not alone/making it up: http://www.nbr.co.nz/article/metlife...says-bd-145038

extract:

Ryman shares are trading at around 4.6 times book value while Summerset is trading at about 2.6 times and Metlifecare is trading close to its book value at 0.8 times.

Ryman and Metlifecare both generated free cash flow of about $30 million in the 2013 financial year. Summerset hasn't yet reported its full-year earnings.

[CJ]

http://www.sharechat.co.nz/article/2...tlifecare.html

Consent for a new village in Glenfield. Interesting location choice - Glenfeild is probably one of the cheaper suburbs on the shore. Mall is close but up a step hill so to far for the oldies to walk (I wonder if they will offer a shuttle service).

I note Ryman has bought a site in Birkenhead somewhere (still haven't seen the address) which is very close and (potentially) a slightly better demographic.

[baller18]

Is MET undervalued compared to SUM?
I tend to think MET is the better one over SUM..
The book value is twice of that of summersets..
And doesn't MET earn more profits than sum as well...
How come all the attention is on SUM and not much on MET?
Am I missing something here...

[MAC]

Is MET undervalued compared to SUM?
I tend to think MET is the better one over SUM..
The book value is twice of that of summersets..
And doesn't MET earn more profits than sum as well...
How come all the attention is on SUM and not much on MET?
Am I missing something here...

Baller, may I suggest that you may benefit from having a go at some FA. Let us know what results you get and may wish to contribute for constructive comment.

[baller18]

Baller, may I suggest that you may benefit from having a go at some FA. Let us know what results you get and may wish to contribute for constructive comment.

i'm a bit confused, if we are taking book values of each company, without taking account into earnings, met BV per share is $2.1 and SUM's is $1.1 or something.
I have read over the posts, is it because of the management, and how they can grow the business?

[CJ]

i'm a bit confused, if we are taking book values of each company, without taking account into earnings, met BV per share is $2.1 and SUM's is $1.1 or something.
I have read over the posts, is it because of the management, and how they can grow the business?

BV is relevant but only if they can turn it into earnings. Look at earnings and growth. I think MET is adding 200 a year, SUM 300 and RYM 700! It's this development, especially if they do I house and earths full developers margin, that drives the high prices.

Common thought is RYM is market leader in all respects, SUM is doing a reasonable job at copying (and wins awards) while MET is still to turn that corner. If they do, then they should take off.

Disc: hold RYM and heavily into MET

[baller18]

BV is relevant but only if they can turn it into earnings. Look at earnings and growth. I think MET is adding 200 a year, SUM 300 and RYM 700! It's this development, especially if they do I house and earths full developers margin, that drives the high prices.

Common thought is RYM is market leader in all respects, SUM is doing a reasonable job at copying (and wins awards) while MET is still to turn that corner. If they do, then they should take off.

Disc: hold RYM and heavily into MET

Thanks heaps CJ, will study the growth and earnings of each company. Cheers!

[baller18]

Anyone know much about grant arbuckle? Tried googling him... couldn't find much

"Grant is an experienced property and development manager. Having completed a
Bachelor of Town Planning at Auckland University in 1984 and a Master of
Business Administration at the University of Surrey in the UK in the 1990s,
Grant has gained valuable skills and experience, both locally and
internationally, in the leadership of multidisciplinary teams, property
development, master planning, urban regeneration and social and retirement
housing. Grant is a results-oriented, strategically-focused individual who
is well set to lead the development initiatives at Metlifecare. Grant will
assume the role of General Manager: Development and Assets on 1 November
2013."

[Jasemc]

Think he might work for them already as development manager?