Share Name Share Symbol Market Type Share ISIN Share Description
Home Reit Plc LSE:HOME London Ordinary Share GB00BJP5HK17 ORD GBP0.01
  Price Change % Change Share Price Shares Traded Last Trade
  1.50 1.33% 114.50 398,407 09:47:40
Bid Price Offer Price High Price Low Price Open Price
114.00 114.50 114.50 113.50 114.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 11.76 20.93 10.15 11.3 643
Last Trade Time Trade Type Trade Size Trade Price Currency
10:33:27 O 36,930 114.10 GBX

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Home Reit Daily Update: Home Reit Plc is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker HOME. The last closing price for Home Reit was 113p.
Home Reit Plc has a 4 week average price of 113p and a 12 week average price of 106.50p.
The 1 year high share price is 118.50p while the 1 year low share price is currently 105.50p.
There are currently 561,671,382 shares in issue and the average daily traded volume is 4,019,359 shares. The market capitalisation of Home Reit Plc is £643,113,732.39.
jonwig: Politicising an argument is rarely fruitful, though it can impact on the investment case, as when Corbyn caused a shudder in the PFI department. Here's an article about HOME, and the short-selling attack on Civitas (CSH). There's also another social housing REIT raising IPO funds (Responsible Housing REIT): https://quoteddata.com/2021/09/qd-view-home-run-strike/ This summarises the CSH issue: https://citywire.co.uk/investment-trust-insider/news/numis-regulator-could-knock-social-housing-dividends/a1544009
raptor_fund: Haha, Yes I totally agree with you. That's the role of rentier capitalism, hunting out the area's where you can easily transfer wealth from the poor to the rich. I have my preferred level of exposure to this 'sector' but I'll happy to look at Home if I want an increase. It's not my fault the government's too stupid to stop funding it.
jonwig: Result: Further to the announcement of 31 August 2021, the Board of Home REIT, which funds the acquisition and creation of high quality properties across the UK that are dedicated to providing suitable accommodation for homeless people, is pleased to announce that it has raised gross proceeds of £350 million through a significantly oversubscribed Initial Issue of 321,100,917 New Ordinary Shares at an issue price of 109 pence per New Ordinary Share.
jonwig: It's the standard model for an expanding rent-gathering property company. Loads do it, and so do renewable energy and infrastructure funds. You're aware of that, aren't you? Really all HOME is doing is collecting rent. If it borrows money it can do that below the running yield on the assets. Of course the assets need maintenance, and I guess there's alternative use (flats at open market). If you don't like the model, leave it alone. But lots of us do.
trcml: So, whenever Home wants to buy a property it taps shareholders for the money. As 'we' don't know whether the property has any potential beyond what's on offer, really all HOME is doing, apart from its overt purpose, is what?
jonwig: Trading update: https://www.investegate.co.uk/home-reit-plc--home-/rns/trading-update/202108310700101028K/ Looks pretty much in line with their promises at IPO. NAV 104.6. Also fundraising at 109p (not unexpected): https://uk.advfn.com/stock-market/london/home-reit-HOME/share-news/Home-REIT-PLC-Launch-of-Issue-Placing-Programme/85941800 Open to PIs.
jonwig: Well, at least HOME isn't one of the named culprits! But it's a potential issue, as HOME "currently has 19 tenants housing over 3,648 people in 643 properties across 81 local authorities." It would be surprising to get 643 clean bills of health! I wonder if the 19 tenants (charities, housing associations, etc.) would be on the hook, with HOME responsible only for the fabric?
trcml: It does of course borrow the money from shareholders! By the sound of it HOME has exhausted scope for bank loans. Any 'responsible' lender would require a charge over the property/properties to which the first mortgagee might not agree. Shareholders can be tapped for capital because in exchange HOME can offer (not promise) a dividend. Whether the shareholder's capital would be protected depends upon the market price for the share at the time the shareholder wants to sell. This is not a sector of the property investment market i am involved in - in the markets i am in index-linked rent reviews are common - but the impression I have is that HOME buy ready-made investments, as distinct from a vacant property, refurbishing it as necessary and letting it on long-lease to one of their approved tenants. Whether the price HOME pays for a particular property is 'inflated' because it comes with a lease in place depends upon the seller. (Worth considering also whether there are property traders that construct the deal in the first place.) Index-linked to CPI but subject to cap-and-collar is attractive to the tenant knowing for certain that the annual rent would not be less or more than x percent. For shareholders, including myself, the potential for capital appreciation depends upon the purchase price of each property compared to its current market value, either as an investment or for development when the lease expire or can be bought in. Also stock market investor sentiment for the price of the shares. Announcing a possible equity offer is unusual: presumably a portfolio has been offered to HOME which it would like to buy provided it can raise the cash. Its advisers might also be testing shareholder appetite for injecting further cash.
trcml: snag with index-linked property investments is that there hardly any potential for increasing capital value using asset management initiatives. Having invested all its borrowings, HOMe would either have to selloff e or more existing holdings to buy any more or borrow the money from shareholders. Because of raison deter the story can tug at one's heart strings but really all the HOMe is doing is buying into a sector of the market that provides a secure income. It is very easy to over pay for index-linked investments, especially cap and collar which offer minimum uplifts annually, bt the underling value of the property with vacant possession is what counts.
jonwig: Potential equity raise (details to follow): https://www.investegate.co.uk/home-reit-plc--home-/rns/potential-equity-issue/202107200700067292F/ Aldo trading update: no Covid, etc. issues. 100% rent collection.
Home Reit share price data is direct from the London Stock Exchange
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