Originally Posted by
_Michael
hey sauce and lizard,
good posts and agree with the four years remaining value as the average hold is around seven years and property market has been in doldrums for only three years now so makes sense based on the seven year tail lizard alludes to
not sure i agree it is unloved though as this is a long time darling of the market, compare its valuation with counterparts in australia and you will find it is actually a well loved stock
it does deserve premium however as it is run as good as any listed company and has always stuck to doing the basics exceptionally well
ryman have generally priced competitively as they are the lowest cost operator due to scale and out of the box repetitive design features etc however the real tail wind now is that developer finance has dried up meaning half of their competitors disappeared during the financial melt down
i hold a couple from the depths of the 08/09 crash but would sell and lock in gains if something better comes along good but not cheap imo
cheers
michael