Civitas Social Housing Share Discussion Threads

[speedsgh] 25/8/2021 21:20

Numis: Regulator could knock social housing dividends (19/8) -

Regulatory concerns about the lease-based model operated by social housing property trusts could force a new way of operating that would cause ‘variability’ in cash flows underpinning their dividends, according to Numis Securities...

... Numis director Ewan Lovett-Turner said although the social housing Reits are engaged with the regulator, the ‘core issue’ continues to centre ‘on the viability of the lease-based model’.

He questioned whether the Reits will have to find a new way to rent properties to housing associations in order to satisfy regulatory demands.

‘It will be interesting to note whether potential lease amendments that allow for the rent level to be renegotiated if there were a significant change in housing benefits would serve to placate the regulator’s concerns on the income-liability mismatch,’ he said.

‘Investors will be wary that this would have the potential to create more variability in cashflows to the Reits over the life of the leases,’ said Lovett-Turner.

This could have a knock-on effect on the Reits’ quarterly dividends – Civitas shares currently yield 4.7% and Triple Point’s 4.6%.

However, other analysts do not share Numis’ concerns, arguing the importance of delivering adult social care should deter the regulator from taking too heavy-handed an approach.

‘Although the RSH has alluded to risks around the lease-based model used by housing associations, there is an acute shortage of housing to accommodate vulnerable adults - expected to reach 47,000 units by 2025, up from 15,600 in 2015,’ said Berenberg’s Tom Horne.

‘Therefore, while room for improvement remains, we view the RSH’s actions as a necessary evil required to ensure that contract is carried out professionally and in a risk-free way,’ he added in a note to investors...

[speedsgh] 25/8/2021 15:36

Back to trading at a discount to its last reported NAV of 108.42p as at 30/6/21

[chucko1] 25/8/2021 14:28

Picking some up now. 107.14p. Last sold 10p higher than that, though I am professing zero skill on t his share - just see this moving randomly and playing what seems a reasonable range.

Yet another REIT experiencing serial panic? Buy their pain.

[nerja] 25/8/2021 14:24

Not a scooby what’s going here, can’t see any pattern with the trades, in fact if anything looking at the trades amazed it’s not down further, hell of a drop for a bond like proxy share.

[badtime] 23/8/2021 12:10

I blame that poster who mentioned break out lol

[nerja] 23/8/2021 09:53

Phew, what the hell is going on here?

[return_of_the_apeman] 04/8/2021 14:12

Looks like a breakout here :-)

[pdt] 09/7/2021 10:34

It has had a tip in today's Telegraph. I cannot post the article because it is behind a paywall. Here is an extract;

With a yield of 4.6pc, Civitas Social Housing Reit is another strong option for retirees, according to Ms Maffioli. Owning a portfolio of social housing across Britain, it pays out a reliable income to investors which is not correlated with the swings of the stock market.

“I like it because it comprises a large diversified portfolio of principally freehold properties within the regulated social housing sector across Britain. Retirees benefit from the stable income provided by the receipt of rents, with the potential for capital growth as well,” she said.

[return_of_the_apeman] 21/5/2021 19:17

Thanks chucko1, will check it out

[chucko1] 21/5/2021 14:58

Try Odey's SWAN fund. -300% in long Gilts! (2061s, for example).

No yield, mind you. But if there is inflation and Gilts get smacked, you would not be complaining.

[return_of_the_apeman] 21/5/2021 14:56

Any ideas welcome for other inflation hedges? Now have CSH with this xdiv drop, SUPR and miners. Prefer something with a yield.

Unfortunately the miners aren"t as inflation proof as I hoped, everyday still a schol day :-)

[rik shaw] 17/5/2021 10:49

Research note from QD just published:

[return_of_the_apeman] 14/5/2021 20:52

Hmm, MSFC on a buying spree, thanks

[return_of_the_apeman] 14/5/2021 15:14

4.8% inflation linked and rent paid by govt not to be sniffed at - looking for an entry point

Fingers crossed

[rik shaw] 14/5/2021 09:40

This weeks presentation via QuotedData is now available online:

[speedsgh] 11/5/2021 10:33

Net Asset Value, Trading and Market Update -

c.99% Rental Income Received, 100% EPRA Run-Rate Dividend Cover, Raised Dividend Target 5.55 pence per Ordinary Share...

[badtime] 10/5/2021 18:37

Continuing good progress on the sp

[badtime] 04/3/2021 21:17

Anyone not got their div....A J BELL havnt as yet...unusual for them

[cwa1] 24/11/2020 10:27

Taken a half holding here at 103p, hopefully will get a chance to add a few more lower down but happy to have stuck a few toes in the door to start with. Fingers crossed

[chucko1] 06/11/2020 11:33

I would agree on that (albeit the government finances are hardly Aaa nowadays). The "little correlation" is such a strong point for the long-term holder.

[winnings1] 06/11/2020 11:24

In today's Trading Statement I particularly like the following paragraph:
"From an investement perspective, the Company's activities take place within a sector that has very little correlation to the broader equity market movements and benefits from 100% Government Funding..."
A safe place for parking some of one's money in these turbulent times, IMHO.

[captain james t kirk] 29/10/2020 06:44

The Stigologist28 Oct '20 - 23:36 - 12964 of 12964
0 2 0
We're not moving to NASDAQ we're getting a Dual Listing and the SPAC is acquiring 4D that's why it's called a Special Purpose ACQUISITION Corp

I hope we upgrade our lawyers when we move [sic]

[badtime] 22/10/2020 16:44

Small increase in target income

[winnings1] 19/10/2020 16:09

I would think that the rental income for CSH is virtually guaranteed by the authorities involved (Social Housing). So, as opposed to offices etc. not much in thw way of Covid-defaults here. Looks like a sensible & safe return on capital here with the share price currently at just 103p.
IMHO,
Winnings1
.