they turn up here ==> https://www.youtube.com/@NzxLimited/videos <== eventually.
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they turn up here ==> https://www.youtube.com/@NzxLimited/videos <== eventually.
They have a youtube channel where you can find previous ones so I assume it will be posted there.
https://www.youtube.com/@NzxLimited/videos
One other thing that's worth noting.
Brent has never mentioned throttling back the build rate, in fact hes saying business as usual.
It's well worth recognizing that the main future growth of any RV comes from adding new builds each year.
SUM must be at demand capacity by now of about 500-600 ( in NZ ar least)
RYM have got everyone worried about their ability to finance more things.
ARV has said they are retarding their deliveries.
OCA are maintaining their 300 objective which can be paid for from the medicine they ( we) took the last year or two to shore up their balance sheet in anticipation.
To me given OCAs relatively small size, it is placed ahead of its peers with the greatest growth position.
He also repeated they plan a 30% margin on top of their capital back when a delivery is sold down.
That means they should be forever capital flush once the first deliveries start maturing.
They will have the choice to ramp up deliveries further or pay down debt. Not a bad place to be.
DRiP shares at $0.8041 ?
Thank you.
Today's NZX event presentation.
https://www.youtube.com/watch?v=v50PygLI_kI
This would seem to be a silly approach? Why would you continue to develop properties only to have the equity market instantly value them at $.60 on the dollar? This would seem to be a value destructive approach.
Surely a wiser way would be to plough proceeds from sales into accretive buybacks that increase NTA per share. That would require some humble pie from the big cheeses and probably won't happen as it lacks the prestige of building flash new shiny buildings and cutting ribbons.
another sign of headwinds for the sector
An ANZ spokesperson told OneRoof the rate is going up to 8.6% next Monday due to it regularly reviewing its stress test rate to ensure it remains responsible and reflects the current interest rate environment
Based on October’s national median house price of $825,000, buyers with a 20% deposit would have last year been eligible to borrow $660,000, but under the new stress test rate this will plunge to $480,000. So instead of being able to buy a $825,000 house, they can now only spend $645,000
https://www.oneroof.co.nz/news/42772
so harder to buy a house , combined with lower house prices ..... hammer time. fancy presentations are just that
another nail in the coffin
New retirement village model shares capital gains with residents
https://www.stuff.co.nz/life-style/h...with-residents
fletcher building going to disrupt the sector big time
Its Vivid Living villages would have a 15% deferred management fee, which was lower than most traditional villages. Ryman had a fee of 20%, and the sector average was 30%, according to analysts.
Fletchers would pay back 10% of the residents’ advance within five days of an ORA ending, not charge weekly fees after the resident had left, and would buy back the home within four months.
oca cashflows :scared:
I don't disagree on the buy backs, that would be a phenomenal capital allocation, would it be better than continued development is a more difficult question to answer.
Specifically on the 'silly approach' developing properties - I never EVER want my managers to change their business decisions (aside from buybacks or equity raisings) based on the share price. That would be idiocy. There is no value being destroyed due to the marking down of asset values in the share price. The only way value is destroyed is if the future cash flows of the business are impaired due to current decisions.
Some bespectacled fund manager waking up in Auckland and realising he has wet the bed again should not affect the build rate that OCA management have decided on as the best course of generating future cash flows.
I'm going to repeat this as there are so many here that don't get this - There is no value being destroyed due to the marking down of asset values in the share price.