Summerset learns from Ryman’s mistakes

Summerset is sticking to broad-acre development. (Image: Supplied)

Mon, 27 Feb 2023

Summerset Group was very smart to highlight in its latest annual results that although it's following in Ryman Healthcare’s footsteps, it's being a lot more cautious about cashflow and debt.You could see the immediate payoff in Summerset shares, which rose as much as 29 cents, or 3.1% to $9.70 – that’s also notable for being above net tangible assets (NTA) of $9.44 per share at a time when most property-related companies are trading below NTA.Ryman shares had a theoretical ex-rights price of $6.03 per share and the ins...

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