Civitas Social Housing Share Discussion Threads

[pmusgrove123] 08/10/2022 08:16

Thanks for the link to Edison. I still fail to understand why the discount is so high.

[jonwig] 08/10/2022 07:55

There's a new Edison note on SOHO which has some general points, and sector comparisons:

[alanpro1] 30/9/2022 15:20

This is the sort of volume that will completely refresh the shareholder register within 3 months!

[wskill] 29/9/2022 09:40

They had £53m at end of March which is a decent buyback ,better to get the cash invested in more properties while the market is in turmoil maybe a few good prospects about now.

[pmusgrove123] 29/9/2022 09:11

Just hope they have the cash to buy more at this rate. Worth every penny.

[spoole5] 29/9/2022 07:02

....and another 750k

[spoole5] 28/9/2022 07:10

Good to see they're still buying back, another 500k.

[saltaire111] 27/9/2022 17:23

Alanpro - good observations. The absence of the much talked about US trade deal will be an irrelevance if the pound stays where it is. Americans will be buying British because the value we will be able to offer them will be irresistible.

Which sectors benefit from American buyers? Scots whiskey producers!!!

Salty

[alanpro1] 27/9/2022 16:17

Horrible feeling? The sale of the company for a modest discount should be actively looked at in my opinion. From the proceeds you could buy another REIT trading at 30+ percent discount. The FTSE 350 Real Estate index is currently at covid lows. Standard market overreaction, there is noway interest rates are going to 6%, unless the Bank of England wants a depression. I'm guessing the remit will change from solely inflation to something closer to the fed to give it flexibility. "promote maximum employment, stable prices, and moderate long-term interest rates"Meanwhile USD / EUR looks remarkably similar to the USD / GBP graph but you won't hear the manic media talk about that.Meanwhile maybe the UK can look forward to something more stable once things settle down, ala Japan. think.ing.com/amp/article/why-is-japans-inflation-so-low/

[pmusgrove123] 27/9/2022 16:09

But if the NAV is based upon the values of future rents (which are index linked and secure) surely the Board would not recommend a sale below that value?

[williamcooper104] 27/9/2022 15:35

That applies to the whole UK market at the moment

[saltaire111] 27/9/2022 15:11

I have a horrible feeling that this is being lined up to be bought out at a discount. The assets would be attractive to a pension fund or fund of funds in the infrastructure sector. I would not be surprised to see an opportunistic approach to snap this up on the cheap.

Salty.

[wskill] 27/9/2022 14:58

Yes REITS seem to be in the same boat property doesnt have value now in todays market .

[nicd] 27/9/2022 14:51

Ouch! This drop is really annoying me now.

[wskill] 26/9/2022 13:06

The company has another trick up its sleeve by the looks of it I await the methodology to be used ,there is little they can do about falling markets though.

"A share buy-back programme was instituted in late 2021. The Board has now given further instruction in this regard and purchases have recommenced.

Beyond the various initiatives noted above, the Board is also actively considering and exploring other ways to address the discount to NAV and to restore shareholder value."

[spoole5] 26/9/2022 11:10

Gonna be able to buyback a quarter of the company at this rate!

[williamcooper104] 25/9/2022 11:37

Well worth checking out the prospectus as a compare and contrast Will be looking for covenant strength, rental cover and what regulatory standing they've got relative to CSH and SOHO

[wskill] 25/9/2022 10:02

See LIVE is tipped today in the Daily Mail to buy in its IPO at £1 forecast yield is 5% hoping to be fully invested in 12 months or so.

Dont think I will be selling CSH ON a 8% yield with a net asset value of £1.10 at 70p to buy LIVE.

[wskill] 23/9/2022 11:39

Strange fall when more cash is being pumped into the NHS SOHO has suffered more though would think that inflation proof investments were what is required today seems I am wrong again.

[spoole5] 22/9/2022 15:37

Great time to be buying back

[cwa1] 22/9/2022 11:32

Indeed not ;-)

[spoole5] 22/9/2022 11:08

Doesn't seem to be helping the price!

[cwa1] 22/9/2022 07:16

Another solid buyback at prices which may, or may indeed not, be advantageous:-

Share Buyback

Civitas Social Housing PLC (the "Company") announces that on 21 September 2022, it bought into treasury 900,000 ordinary shares of 0.01p each in the capital of the Company ("Ordinary Shares") at a price of 75.95p per Ordinary Share.

[theprovosts] 21/9/2022 08:11

So most of the shares that were sold yesterday have gone into the treasury, ie. safe hands.

I do wonder what they mean by:

"A share buy-back programme was instituted in late 2021. The Board has now given further instruction in this regard and purchases have recommenced.

Beyond the various initiatives noted above, the Board is also actively considering and exploring other ways to address the discount to NAV and to restore shareholder value."


Clearly there is institutional demand for these (SSH) assets considering how liquid they are, are they planning some sort of collaboration between some of the larger investors? Civitas are the largest investor in this space with the biggest and best teams, it would make sense.

[cwa1] 21/9/2022 07:28

Indeed, makes you wonder...

Share Buyback

Civitas Social Housing PLC (the "Company") announces that on 20 September 2022, it bought into treasury 1,000,000 ordinary shares of 0.01p each in the capital of the Company ("Ordinary Shares") at a price of 77.75p per Ordinary Share.

The last published IFRS NAV of the Company was 111.89p as at 30 June 2022.