WOW, that was accurate.
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Couldn't have said it better myself -
Summerset Chief Executive Scott Scoullar said 2021 had been an extraordinarily good year for Summerset with record demand and build rates, reflecting the focus that Summerset has had over the last couple of years in keeping our residents safe and well cared for throughout the prevalence of COVID-19.
I underline the extraordinarily:t_up:
Doing it the proper way
Comprehensive Income $588m up from $234m the year before - up 151% and they paid $38m in divies
Book Value up to $1,925m or 42% - that's some gain
NTA $8.36 / Book Value $8.62
To highlight the recent carnage in the retirement sector (share price wise)
A year ago SUM share price $12.67 and trading at 2.1 times NTA
SUM shareprice now $11.60 and trading at 1.3 times NTA
A drop from 2.1 times to 1.3 times is some re-rating in valuation multiples eh
Maybe setting a new benchmark for the sector -- no high premium to NTA and you only get a premium if you perform.