We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Civitas Social Housing Plc | CSH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 79.80 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 79.80 |
| Industry Sector |
|---|
| REAL ESTATE INVESTMENT TRUSTS |
| Top Posts |
|---|
Posted at 23/6/2023 12:25 by cruelladeville Thanks for explaining. Less than perfect situation then. No doubt some have made short term profits @80p but a lot of small investors will be thinking it's low ball. I guess. |
Posted at 25/1/2023 04:58 by up4itt Lucy presents the information about Herleva / SHO like a dark little secret that has been exposed. In fact, the matter was openly reported by CSH in its 2022 accounts (page 104) as follows:“During the year the Group acquired a property holding company from Herleva Properties Limited which held assets totalling £8,611,000. Herleva Properties Limited is a subsidiary of Specialist Healthcare Operations Limited (“SHO”). Andrew Dawber and Tom Pridmore (both directors of the Investment Adviser) are each 14.99% shareholders in SHO. They are not directors of SHO and have no operational role in that business. SHO does not meet the definition of a related party under IAS 24”. (Note: IAS 24.11 states that two entities are deemed not to be related simply because they have a director or key manager in common.) Regardless of what one might think of this and the other transactions mentioned in Lucy’s latest comment, they are all in the public domain and are in line with the relevant rules and standards. I would think that, having been the victim of a short attack in 2021, CSH will now be doubly careful to ensure that their future conduct is above reproach. William illustrates his tendency to confuse ropes and snakes by meandering off from CSH into a discussion about HOME. I believe that the market is currently subject the same confusion, hence the weakness of the share price of CSH. Of course, the market may remain irrational for longer than is reasonable, but rational investors would be wise not to be taken in by this unjustified and no doubt transient negativity. |
Posted at 23/1/2023 12:53 by wskill I do hear what you are saying but do not think this is as bad as you are making out,watched homes under the hammer today it was a bit cloudy for the beach that is my excuse, a home in the Nth of England was sold for £113k they spent £28k turning it into a 4 bed HMO which the estate agent said rents for £451 per month per room and if sold to an investor £211 k a decent margin there not so different to CSH and SOHO prices paid.HOME was another matter entirely do not believe SOHO and CSH are guilty of the same, |
Posted at 20/1/2023 14:11 by spectoacc Am sure this has been covered above, but interesting Citywire article:"Numis investment companies analyst Gavin Trodd believed this was the first time a social housing Reit tenant had received an enforcement notice. He doubted My Space would ‘be in a position to meet its rental obligations in the near future’ and said the regulator’s intervention ‘highlights that the nature of leases and the risk-return profile of these portfolios is likely to be materially different to investor expectations at the launch of these funds’. Civitas and Triple Point have, in the past, reassigned leases away from providers that are financially challenged, but Trodd said My Space was more complex as the stock it provides does not meet the definition of specialised supported housing. ‘We do not expect that simply reassigning the leases to a different provider would address the issue,’ he said." |
Posted at 19/1/2023 13:24 by lucydesouza Yes. Topland flipped a lot of properties into CSH. They also loaned money to First Priority, which leased the properties back from CSH. First Priority ran into problems. That's all a few years ago now - I'm simply using them as an example of wealthy, controversial offshore investors who have profited handsomely from all this. |
Posted at 18/1/2023 11:32 by catch007 The 'contagion' is actually the doubts and dark clouds across the whole sector now imho. Home appears to be a basket case and CSH was also recently subject to a shorting attack. It does appear CSH are being proactive to reassure investors, a prompt succinct response to alanpro1 is a good example as well as the steps taken re leases to satisfy regulators.We can't see under the bonnet for CSH or Soho so I hold with a watching brief. I added recently to CSH holding circa 59/60p on dividend considerations. The over arching consideration in social sector is the desperate need for such services - where do people go if these services become unavailable? |
Posted at 20/12/2022 09:36 by up4itt The stuff about Fairhome and Westmoreland was the subject of an investigation by the Social Housing Regulator who published their conclusions in 2018. The facts have been in the public domain for at least 4 years and I’m not sure that there is anything new in what Lucy is alleging.Lucy only posts on Civitas (and now on Victoria) and has tended to do so when Shadowfall and other shorters are active. There is circumstantial evidence, therefore, that she has an agenda. I have no problem with that, but it’s worth knowing, although that does not in itself nullify the value of her research. The Civitas share price has fallen sharply since October, but so have, to more or less the same extent, the share prices of other REITS unrelated to social housing. This suggests that the falls reflect the macro environment and higher interest rates and are not specifically related to the business model of Civitas and Triple Point. I suspect that the unique issues faced by HOME may have leached, unjustifiably, into perceptions of Civitas and Triple Point. All investments involve risk, but investors in Civitas and Triple Point are compensated for this risk by the low NAV and the high dividend. Full disclosure: I hold both CSH and SOHO. Together they comprise about 16% of my REITS holdings which in turn represent about 15% of my total UK share portfolio. I am well under water with both CSH and SOHO, and had not expected them to fall this far, but plan to hold for income and long-term recovery and may well add in the coming months on any further weakness. |
Posted at 20/12/2022 09:17 by lucydesouza The transaction with Herleva Properties is pretty mad. For anyone that likes a corporate rabbit hole, the shifting network of companies that surround Herleva (now "Rhoddos") is quite dizzying!What's clear is that at least 50% of CSH's acquisitions in 2021FY involved related party transactions (Herleva and CPI Care). On one side of "the table" you had Pridmore and Dauber. On the other side of "the table", you had Pridmore, Dauber, Simon Nixon and the Beaufort boys. It's the same people that were behind Beaufort Jersey, and the financing of Fairhome. I don't think any of these people have a material investment in CSH itself (perhaps they do and I haven't found it), but they are making plenty of money from all the entities that transact with it... Simon Nixon is a billionaire (lives in the BVI, obvs!), and is involved in several groups connected to CSH, but doesn't seem to be an investor in CSH itself. For some reason, an image of a vampire squid springs to mind. |
Posted at 16/12/2022 12:16 by catch007 LucyDeSouza: Excellent post detailing several dubious practices that I was not aware of previously, thank you. I suspect the BOD at CSH will be extremely wary of its buying practices in the short term given the market focus and attacks by shorting companies as it lays itself open with such activities.I agree with SpectoAcc that the NAV is pure fantasy however the current NAV discount looks very high, true value who knows! From an income investors viewpoint there are some positives 1. Yield is high and to date rent is being paid 2. Regulation being sought in regard to leases 3. The acute need for social housing in UK 4. Has the fire sale been overdone and an opportunity for share price to recover? The whole sector seems a bit dodgy so will take a bit of time before topping up again. |
Posted at 21/9/2022 08:11 by theprovosts 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. |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
