RMC - Resimac Group

[sptrawler]

Well at last taking off 0.67c to $1.04 in 3 days. This has been a good dividend play, but now has really suprised everyone with a 0.35c return of capital announced. Also says it won't affect the dividend.

 

[sptrawler]

HOM - Homeloans Ltd

This appears to be a well run company and the directors have a decent share holding. 3-4 months ago they were sitting around 0.60 - 0.70c then announced a return of capital of 0.35c and a dividend of 0.035c. Apparently they have got too much in the way of cash reserves, now thats what I call a decent handout.
Anyone know their history?
I was just lucky to stumble on them at the right time. Yeh at last a winner

 

[sptrawler]

Re: HOM - Homeloans

Still paying a good dividend, sold out enough to cover my initial cost and still in front. Hope the housing market holds up.
This has been a great little investment.

 

[pixel]

Re: HOM - Homeloans

Still paying a good dividend, sold out enough to cover my initial cost and still in front. Hope the housing market holds up.
This has been a great little investment.

Mackas think so too. They just announced they've become a substantial holder. (took CGF's 21M stake off-market)
I'd like to join you, but the trading volume is too thin for my liking, and I'm not into long term holdings.

 

[WRiley]

Re: HOM - Homeloans

Wonder how will the dpu for 1st half FY2017 be impacted by the SIA, effected after the acquisition of RESIMEC...

 

[System]

On December 4th, 2018, Homeloans Limited (HOM) changed its name and ASX code to Resimac Group Limited (RMC).

 

[Dona Ferentes]

after a battering during Covid, Resimac has come back to life

Resimac Group Limited (ASX:RMC) provides the following trading update (13/11):
• 1H21 Normalised NPAT guidance in the range of $48m - $53m reflecting low 30 day BBSW resets, disciplined cost control, and Assets Under Management growth.
• Home loan settlements from July to October were $1.4b (c65% Prime; c35% Specialist).
• Resimac home loan Assets Under Management at 31 October 2020 was $12.7b (30 June 2020 $12.4b).
• At 31 October, approximately 4.4% of customers were in COVID payment deferrals (30 June 2020 10%).
• The Group is unlikely to increase the 30 June 2020 COVID collective provision overlay of $16.

 

[Telamelo]

The Australian Financial Review reports this morning that Resimac RMC is preparing a $1 Billion residential mortgaged-backed security (RMBS) deal that would be cheaper (for Resimac) than the last one it did in May.

Excellent prospect's/potential then going forward in FY 2021/22 noting RMC reports it's results next Tuesday

 

[Telamelo]

Very nice uptick this morning with RMC @ $2.38 +4.85% on good volume already

Cheers tela

 

[Telamelo]

Strong close RMC @ $2.45 +7.93%

https://asx.swingtradebot.com/equities/RMC:ASX

 

[Telamelo]

Resimac RMC prices $1Billion RMBS transaction as announced last Friday mid-afternoon 27/08

*and report full year results tomorrow Tuesday 31/08

 

[Telamelo]

Resimac RMC prices $1Billion RMBS transaction as announced last Friday mid-afternoon 27/08

*and report full year results tomorrow Tuesday 31/08

Resimac Group RMC

NPAT of $104M +87% on the prior year!

Strong growth in all metrics including 2H settlements - FY22 growth guaranteed!! Return on Equity 37%. Increased fully franked dividend

They are currently developing a new asset finance division. A genuine non-bank lender with their own warehouse funding facilities. Revised growth strategy....

FY24 target of $9B annual settlements is huge!

Recent broker/analyst valuation $3.50c+ but take that with a grain of salt imo

 

[Telamelo]

Resimac RMC targets bigger share of ‘healthy’ home loan market​

*article covered in "The Australian" 31/8 @6:28pm (sorry as unable to provide link)​

https://www.********.au/2021/08/31/resimac-asxrmc-share-price-lifts-on-104-million-profit/

*as covered in the motley fool

 

[Telamelo]

RMC now @ $2.50 +2.88% noting goes ex-dividend on Friday 3rd September.

 

[Telamelo]

building nicely RMC @ $2.54 +4.53%

 

[Telamelo]

Since going ex-dividend RMC dropped back down to about $2.33-2.38 range.... believe this is quite cheap imo on current metrics & low P/E ratio etc.

Refinancing of mortgages & home loans etc. is booming across Australia coinciding with spike in property prices as well.

 

[Dona Ferentes]

building nicely RMC @ $2.54

and that was about it. Down...... made it to under $1.60 last week.

So now, RMC will undertake an on-market buy-back of ordinary shares.

The Board considers that the Company’s current share price does not accurately reflect the underlying value of the Company’s assets and the Share Buy-Back represents an opportunity to add value to the remaining shares on issue.

That seems to have helped, with a 12% lift today, and now above $1.80

 

[finicky]

Now 0.99

I'm interested if it tanks even further and I can sell something else to fund it. The chart suggests to me that it could fall further and this stock has suffered particularly badly during general market downturns. I just read a Daily Reckoning article that mentioned this stock as well as VUK, MGH and MEA. Suggests the possibility that bad news is already accounted for in the housing stocks' share prices. This is priced at almost book value and mostly has had strong ROE in the past.

Why Housing Stocks Could Spring Higher - Daily Reckoning Australia

In today’s Daily Reckoning Australia, Louis Christopher from SQM Research has just released his latest ‘Boom and Bust Report’ outlining his forecast for the Aussie property market for 2023.

www.dailyreckoning.com.au

Not Held

RMC All Data Monthly

 

[divs4ever]

i hold VUK ( bought back when NAB spun it out )

and am fighting my instincts to run and hide ( from VUK)

now with RMC all my instincts tell me to sit and WATCH

but i remember the nice outcome i had with RAMS ( was it RHG from memory ?? ) and wonder if lightning could strike again , especially now the BIG 4 have 'shrunk the bank'

i don't always bet on a take-over ( but had luck with TTS and AHG/AHE )

but do i dabble in RMC and hope a take-over is my emergency out ?? ( if i need it )

i suppose i should watch the price action first and reassess my feelings at , say . 90 cents ( and prepare to nibble down if the housing market slides )

 

[finicky]

I'll be keeping a watch on the chart. There's a chance of 50c or even 25c but that's just my vibe, not a serious call. I can never pick a takeover prospect so don't consider it. Not my kind of business but I was surprised when I looked at the basic stats on Commsec, recent years have been returning strong ROE on rising book value + pays a good franked dividend. My one housing stock, CWP has picked up over the last month or so.