Civitas Social Housing Share Discussion Threads

[saltaire111] 14/1/2020 16:09

Really positive momentum behind this recovery.

Salty

[george stobbart] 08/1/2020 17:54

Bosh! this is ripping higher every day

[spectoacc] 06/1/2020 15:37

Of all the stocks I dumped ahead of the Labour minority govnt (oops), losing CSH has caused the most angst. Good luck holders.

[spectoacc] 13/12/2019 16:48

It's still cheap, tho will need to be lower before I can justify buying back in.

[shauney2] 13/12/2019 16:45

Still down on the day.Must admit I was very tempted to sell other stuff prior but hung thankfully.This I thought would be ok.

[spectoacc] 13/12/2019 09:10

Lol I did that. Never been more wrong about anything.

[shauney2] 13/12/2019 08:55

You got the Labour minority right;)

[spectoacc] 11/12/2019 15:26

Reluctantly all sold ahead of Friday's surprise Labour minority govnt ;)

[shauney2] 02/12/2019 14:10

Just featured on sky news business after solid results today hence the tick up.

[spectoacc] 07/11/2019 08:19

Repurchases continuing to be little more than a rounding error, some minor concerns on divi coverage, but - seemed nicely positive this morning. NAV (even the non-Red Book) continuing to be very supportive of the price, c.£1.07/share.

[saltaire111] 15/10/2019 11:28

Positive momentum building here.
Salty

[saltaire111] 09/10/2019 15:17

Very positive article from Tempus. Although, isn’t he usually the kiss of death for a share?

Salty

[hopesprings] 08/10/2019 18:25

Written up in Tempus. Agree the valuation is undemanding.

[saltaire111] 08/10/2019 14:48

Bought 23,000 shares today. Cannot ignore the yield and 20% NAV discount.

Salty.

[davebowler] 11/9/2019 16:13

SOHO -Triple Point announcement 6 Sept;

Chris Phillips, Chairman of Triple Point Social Housing REIT plc, commented:

"Looking back over the past six months, and forward over the next six months, there is much to be pleased about. As expected, our existing portfolio has performed well and we have continued to deploy funds into high-quality assets leased to Approved Providers which continue to strengthen as a result of ongoing regulatory engagement. Commissioners continue to call for new housing, as reflected in our pipeline of close to GBP400 million. We continue to refine and evolve our due diligence processes and we have never failed to receive rental payments in full under our leases. For all these reasons, and despite movements in the Company's share price, our continued operational performance makes us look to the future with optimism."

[roha1] 22/7/2019 17:43

understanding of this sector is poor - even amongst the city brokerage community - not surprising given the sector is new to them. the real risk to the sector relates to changes in central govt funding policy towards specialist social housing (unlikely?). perception of regulator of social housing related risk is to some degree a red herring. housing associations should be thought of as no more than managing agents. the question to ask is are CSH assets fit for purpose, leased at market rents (i.e. not over rented), and occupied by tenants with long term special needs in areas of substantial supply / demand imbalance. if the answer to all these questions is yes (which it is), the risk of non payment is almost zero. if housing associations become financially stressed losses are imposed on void property stock, and or over rented premises. property which is fit for purpose and occupied at appropriate mkt rents would be unaffected and in extremis CSH could re-assign their leases to more financially viable HAs - which they have already been the case since IPO. n.b. many of these smaller specialist care related housings associations have grown rapidly in recent years and inevitably there have been associated growing pains. these issues are now being addressed to ensure their operations / governance are more professionally conducted going forward. other bear arguments focus on the mismatch of leases between housing associations and local authorities on one hand (typically shorter) and between housing assciation and social housing landlords on the other (typically longer). this misses the point that underlying tenants have long term specialist care needs (often longer than the lease) and will be funded by central govt whilst they are in situ - unless there is a change in govt funding policy...

[gopher] 17/7/2019 21:45

seems to have stabilized at this level which looks attractive for income investors who want the real value of capital maintained but probably needs to attract attention of wealth managers to see price rise

[spectoacc] 05/7/2019 15:10

Thanks @apollo. dcb = Dead Cat Bounce ;)

[apollocreed1] 05/7/2019 14:55

@spectoacc - what's a DCB? The article, by the way, is on Citywire Trust Insider.

[spectoacc] 04/7/2019 16:19

Been a decent dcb - read an interesting article I now can't find a link for, headline "The regulator doesn't hate us" or similar.

[spectoacc] 28/6/2019 08:58

Still some regulatory risk but agreed - so far they seem to be talking a good story, & there's a lot in the price down here.

[gopher] 26/6/2019 21:22

An uptick is the share price seems to signal we have seen the bottom when they were rated on a par with investments trusts who were either not understandable or to be avoided

[gopher] 24/6/2019 08:30

No surprises here as far as I can see
At 80p the company is offering a yield of 6.25% rising to 6.6% next year

[gopher] 18/6/2019 21:46

The discount against NAV was 28% at 77p. In fact discount and NAV have been moving in different directions this year.

This will clearly reverse at some point or we are looking at a write down of NAV which I can't see a reason for given the specialization (social housing for the disabled)