Share Name Share Symbol Market Type Share ISIN Share Description
Civitas Social Housing Plc LSE:CSH London Ordinary Share GB00BD8HBD32 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  1.90 2.1% 92.50 3,917,638 16:35:02
Bid Price Offer Price High Price Low Price Open Price
92.50 92.90 93.40 90.20 91.20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 49.02 36.08 5.80 15.9 575
Last Trade Time Trade Type Trade Size Trade Price Currency
17:28:28 O 19,989 92.126 GBX

Civitas Social Housing (CSH) Latest News (1)

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Civitas Social Housing Investors    Civitas Social Housing Takeover Rumours

Civitas Social Housing (CSH) Discussions and Chat

Civitas Social Housing (CSH) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-09-24 16:41:4192.1319,98918,415.07O
2021-09-24 16:34:1791.577,1616,557.33O
2021-09-24 16:34:1792.50298275.64O
2021-09-24 16:34:1791.9549,42545,444.80O
2021-09-24 16:34:1792.5043.70O
View all Civitas Social Housing trades in real-time

Civitas Social Housing (CSH) Top Chat Posts

Civitas Social Housing Daily Update: Civitas Social Housing Plc is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker CSH. The last closing price for Civitas Social Housing was 90.60p.
Civitas Social Housing Plc has a 4 week average price of 89p and a 12 week average price of 89p.
The 1 year high share price is 120.80p while the 1 year low share price is currently 89p.
There are currently 621,896,380 shares in issue and the average daily traded volume is 11,615,131 shares. The market capitalisation of Civitas Social Housing Plc is £575,254,151.50.
saltaire111: Would like to see some Director buys coming through. If they’re confident in their position, they should recognise the value in the company at the current share price. Salty.
davebowler: Liberum; Civitas Social Housing Response to Shadowfall letter Mkt Cap £593m | Share price 95.4p | Prem/(disc) -11.9% | Div yield 5.8% Event Civitas Social Housing has published a response to yesterday's open letter from Shadowfall Capital. Shadowfall has a 0.8% short position in CSH. Shadowfall's letter focused on three main areas: Transparency on transactions with entities where the directors of the investment manager have an interest The funding framework for rental income Viability of rental income The board has stated that it believes the letter is inaccurate and erroneous. A more detailed response will be published following a review of the claims in the lengthy letter. The company has reiterated its confidence in the portfolio and business model and reports robust operational performance. Liberum view We would expect a thorough response to the claims in the letter in the near term, particularly in relation to the queries on the funding framework. We note the company has continued to buy back shares, demonstrating confidence in the underlying business model. The questions raised regarding conflicting lease terms should be relatively straight forward for the company to respond to. In relation to the transaction with the entities where the directors have an economic interest, Civitas undertook a number of transactions where it acquired operating care businesses with property assets. The transactions were structured in this way in order to facilitate the acquisition of the properties. CSH cannot hold the care businesses and these were sold on as part of a back-to-back transaction with the Envivo Group (an entity in which the directors of the investment manager each hold a 10% stake in). The transactions were not disclosed publicly at the time as CSH did not want to highlight the transaction structure to competitors. We believe the figures referred to in the Sunday Times article do not give an accurate representation of the acquisition multiple. From Companies House, the TLC Care Home business was acquired for £5.4m (£4.3m to Civitas and £1.1m to pay off some of the liabilities of the acquired entities and other costs). The multiple was approximately 3x on the following year’s operating profit. The letter from Shadowfall essentially claims that the true underlying occupancy of the properties is lower and rent is being funded through payments from care providers and developers. The company has consistently stated that service level agreements between the care providers and registered providers include provisions to cover voids. It is the care provider and local authority who decide on the fill rate based on clinical decisions and there are several reasons why a planned void may occur. Developers also agree to cover voids for a period of time when a new property is being brought into the sector and occupation will be staged for clinical reasons. In terms of void payments that are being met by the registered providers, the company previously guided to sub-5% and typically within a range of 1-3%.
cwa1: https://www.investegate.co.uk/civitas-social-hsng.--csh-/rns/holding-s--in-company/202109211023184624M/
saltaire111: I wouldn’t be surprised to see an opportunistic bid coming in for Civitas with the price at this level. And at some point Shadyfall is going to take profit on its short position and move onto its next victim. Salty.
cwa1: Thought I was mugged yesterday for selling at just over-98 but now looking worse. What price would folk be buyers at now given any and all new information?
cwa1: FWIW I decided to ditch first thing this morning. I had hoped that CSH would have issued a strong defence first thing and the fact we haven't heard a peep disconcerts me a little. Thought I was getting mugged at 98ish pence, and probably have been, but at that price it was a modest loss to take as I foresee a lot of volatility ahead here. Good fortune to those that remain
calaban: You can access the article from the author's twitter account (I found the link on shadowfall's site). Essentially Civitas bought operated assets, and then sold on the operating part of the company. In the interest of balance, I believe that the operating compant profit figure in the ST article does not include rent (as these were owned and operated assets) and therefore is not directly comparable. Civitas, of course, do not operate, only lease out. The two directors concerned took/owned a stake in the company that bought the rights to operate. In my view, this stinks, but Civitas still has a price.
badtime: Or they bought back in three times at the same price
apollocreed1: I bought back in at 101.2 on Thursday, but the above post made me check "ShortTracker" and you can see that 2 hedge funds have gone short starting on the 20th and 24th of August. One of them increased the short position on Thursday 2 September. I have been watching the Short Tracker website for a few years and most of the hedge funds seem to get it wrong so I am happy holding CSH for the long-term. Fund % short change Date changed Anson Advisors Inc. and Anson Funds Management LP 0.64% 0.0% 20 Aug 2021 ShadowFall Capital & Research LLP 0.80% 0.06% 2 Sep 2021
lozzer69: This from Citywire today ..........Civitas Social Housing (CSH) has moved back to trade at net asset value (NAV), closing on Tuesday in line with the value of its portfolio versus a 7.7% average premium over the last three months. It represents a rare chance to invest at par in the 5.1%-yielding real estate investment trust, which derives its income from government-backed rents.Growth in the sector has been knocked by regulatory concerns about the lease-based model operated by social housing property trusts, including Auckland Home Solutions being deemed non-compliant on some governance standards. Auckland accounts for about 17% of CSH's rent roll, though this has reduced since March.Numis took a bearish view on the sector in a recent note, though other analysts are more sanguine.
Civitas Social Housing share price data is direct from the London Stock Exchange
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