Love it haha
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Median house price for Msrch up on February ....across the country
All good news for Summerset et al .......sale proceeds probably more than the ‘embedded’ value
Beagles $100m forecast looking even more certain I reckon
https://www.reinz.co.nz/Media/Defaul...rch%202018.pdf
It'll be good to attend next weeks annual meeting and see if I can get some more colour from Julian Cook regarding current year prospects and have a chat about a couple of other matters. $100m gives 44.5 cps underlying for FY18 and at $7.05 puts them on a forward PE of 15.8. Market average is about 20. I'm maintaining my 12 month forward $9.40 price target.
Should be interesting.
Besides getting a bit more colour around this year’s prospects you should broach the subject of optionality with him / get a feel for the growth trajectory over the next few years / find out what price prospects are like in the current landscape.
No doubt he will cover off brand metrics and such things in his presentation
Have fun.
I will be giving Julian a bit of a wind up about fixed fees for life, (I have already raised this with him before). Old folks love fixed fees for life because they know their super gets inflation adjusted every year which gives them heaps of optionality with the extra superannuation they get every time it goes up. I still believe this fixed fee for life thing is a hugely valuable marketing tool and one it appears they could make good use of in regard to selling their care suites.
I'd be interested to know if there has been an approach from govt on mandatory affordability units.