Plenty of development planned in Wigram.
http://www.stuff.co.nz/the-press/bus...r-Wigram-Skies
http://www.stuff.co.nz/the-press/bus...ormer-airfield
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Plenty of development planned in Wigram.
http://www.stuff.co.nz/the-press/bus...r-Wigram-Skies
http://www.stuff.co.nz/the-press/bus...ormer-airfield
I'm pleased with the acquisition and am honing my skills around the disipline of patience :)
Very happy that SUM continue their focus entirely in N.Z as in my opinion the Aust economy looks like turning really sour for a considerable period of time. Implications for RYM and SKC's expansion plans over there ? (Disc, sold RYM and SKC)
This stock remains my most vexing hold. Good revenues, good management, confirmed forward planning in a economic and social environment that is supportive of company growth and potential..... yet the SP remains impotent at around 3.10 - 3.25. Hard to fathom this stock, I thought once Quadrant had finished its sell off we would start to see the true value reflected in pricing, but it seem immune to good news. Yet MET continues to soar... I don't get it.
I honestly don't mind. buying SUM for anything below 3.50 I believe will be great for the future. Of course for people who already hold lots of shares it must be a pain. From the sound of today's announcement these planned villages will bolster the share price when dirt is turned. The next financial report will be interesting to see earnings and how they are funding the current development of the 4 or is it 5 homes going ahead at the moment.
As for MET I wouldn't be surprised to see it fall below 3.50 in early 2014.
I have written many times regarding the above concerns that others have also mentioned but to spell it out again Sum is currently undervalued and the market hasnt recognised that yet and PartyPooper is correct Met is overvalued based on no proven results to date so i think the market has that wrong, goes to show the market isnt always right,if Sum hasnt got a 6 in front of it in 3-4 yrs time id be very surprised,cheers
Ryman are very savvy operators and i dont think anyone could write them off due to their Aussie expansion plans they have a proven track record but as Roger has mentioned on a few occaisions already Sums growth potential in NZ will be greater over the coming years, you only have to look at how Rym went from $3 to$6 in a relatively short space of time there is a lag phase from start of construction to the Acme phase when profits really start to show through, its like building a dam takes a while for the water to build up but once the dams full theres a lot of force ready to let rip and so we will see this process occuring with Sum in the coming years,stand firm
String assertions there. Any chance that you can back them up using figures from the company reports?
- Summerset's recent profit essentially equates entirely to the re-valuation of investment property by 2.5-3% pa;
- absolutely pathetic;
- the current price is based on the expectation that they up the build rate and improve their development margin.
- Metlifecare's current price is based on precisely the same expectation.
Best Wishes
Paper Tiger
I did do up figures for Sum will dig them up again when i get some time,regarding Met i havent really any detailed analysis but when the share price went from $3.06 to $4.55 in a short space of time based only on the fact that 2 new owners had come along I think it being overvalued speaks for itself, the other factors that come into valuing these companies for future growth are not based on numbers but on public perception of the overall standard of care offered to the residents by that company and if the company is seen as having a focus on excellent care not just profit it will do well and Sum is in that place,cheers