MET - Metlifecare - one for the fundies?

[Bjauck]

44% increase in the interim dividend! A silver lining? Maybe they think the extra costs associated with the leaky buildings fiasco will be a one-off...and income streams will increase.

Auckland and NZ Property prices being at such high multiples of NZ incomes in a low interest rate environment are on sandy foundations?

I’m Still a holder although having made a reduction over the holidays.

[Ggcc]

I am a little surprised that the share price is not lower following their released figures. Maybe people are seeing things I just can’t in comparison to others in this sector

[hardt]

I am a little surprised that the share price is not lower following their released figures. Maybe people are seeing things I just can’t in comparison to others in this sector

Pipeline and a PBV of 0.87 Attachment 9566

[winner69]

Pipeline and a PBV of 0.87 Attachment 9566

Maybe it’s Glen sowry’s presence holding back the MET share price these days

Chart since floating not that bad ...and every sector needs an unloved laggard and MET is that in the retirement sector. Just not sexy enough

[hardt]

Maybe it’s Glen sowry’s presence holding back the MET share price these days

Chart since floating not that bad ...and every sector needs an unloved laggard and MET is that in the retirement sector. Just not sexy enough

I would agree, not too sexy, but everyone's idea of *sexy* is vastly different from the rest...

Still plenty of value left to come out of MET... I find that a little bit sexy.

[Scrunch]

I would agree, not too sexy, but everyone's idea of *sexy* is vastly different from the rest...

Still plenty of value left to come out of MET... I find that a little bit sexy.

I recently bought a few after comparing the alternatives. My take on it was that most of the sector profitability comes from three sources - development margins on new build, and margins achieved on resale of units and upwards revaluations of the portfolio. Compared to SUM others, MET has similar development margins and is doing well on unit resales. Revaluation gains should also be broadly similar. What MET doesn't have is scale on its development activities. If this is developed, there's a lot of upside in the share price. As per the build chart from Hardt, they are increasing activity in this area, but still not to the extent of SUM others. You are buying into essentially a property company at a small discount to NTA, not a near double multiple. If profitable development activities step up over the next 3-5 years there's potential for the share price to increase a lot. SUM others need a strong development pipeline just to support the current share price.

[Ggcc]

Can someone set up a thread to discuss all the retirement villages and to where they see them being valued at in 5 years time. Which do people value as cheaper or more expensive

[Investor]

Can someone set up a thread to discuss all the retirement villages and to where they see them being valued at in 5 years time. Which do people value as cheaper or more expensive

You are welcome to create a thread

[Ggcc]

You are welcome to create a thread

Absolutely if I knew how

[peat]

Absolutely if I knew how

Click on NZX as shown

Attachment 9568

Then click on Post New Thread as shown
Thread02.JPG

I hope this helps