Sauce has always been right on the money with his Ryman valuations on the Ryman thread, and has shared his thoughts on both SUM and MET.
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Thanks for the trouble you have gone to Sparky.
I can't comment on MET,however I think their view of Ryman is spot on.
Hi Sparky,
Cheers for the article above - very useful.
I never thought twice about MET as have preferred to hold RYM, but since the latest merger, sale and change in control I believe there is reduced risk and good potential for a turn around. Hence I bought a small holding.
Obviously a good industry to be in and MET is cheap relative to NTA with management hopefully using the assets now to generate some profit. If there is a Div it would really egt thing moving in terms of share price.
I still havn't invested in SUM as I increased my holding in RYM, and in my view it SUM similar but not as good as RYM.
However I may buy some SUM if RYM keeps moving upwards. Will also be interesting to see how RYM goes in Aussie.
Matt.T
No dividend for this year.
http://www.stuff.co.nz/business/indu...om-Metlifecare
Folks listen up. In the AFR 1/2/13 "The $553 million Retirement Village Group RVG is in breach of its loan covenants, triggering a dramatic recent jump in its borrowing costs...... RVG holds a 43% slice of Metlife Care NZ and its investors hope the sale of that stake may cover the outstanding debt......Financial sources argue RVG may have to stomach a deep discount on the Metlife share trade"
Yes . Icant cut and paste atm so selective v slow 2 fingered typing. Looking good for FKP(i hold from $1.40) and int re Metlife. Maybe a cheap entry coming up.
So in addition to owning Ryman and Summerset I have now added Metlifecare to my portfolio.
Currently still trading just under NTA and trading well under NTA+Resident Loans, if they can get their act together and up the rate at which they build, and more importantly, sell new units then I dare say the market in general will decide to push the price up.
The accounts say to me that they could borrow a bit of money (that was recently paid back) to develop their build capability and kick start some decent growth.
So then they would not be 'too cold' anymore.
Best Wishes
Paper Tiger
PS: 'too hot' and 'just right' ? try working them out. :mellow: