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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Residential Secure Income Plc | RESI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.70 | -1.43% | 48.30 | 16:35:04 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 49.80 | 48.10 | 49.80 | 48.30 | 49.00 |
| Industry Sector |
|---|
| REAL ESTATE INVESTMENT TRUSTS |
| Top Posts |
|---|
Posted at 14/6/2024 15:30 by cwa1 14 June 2024Residential Secure Income plc ("ReSI" or the "Company") Notice of Interim Results 2024 Residential Secure Income plc (LSE: RESI), which invests in independent retirement living and shared ownership to deliver secure, inflation-linked returns, will publish its Interim Results for the six months ended 31 March 2024 at 07:00am BST on Tuesday 18 June 2024. A webinar for analysts and investors will be held at 11:00am BST on Tuesday 18 June 2024. To access the live webinar, please register here or enter the following into your browser The Company's Interim Results announcement, Interim Report and Accounts, and webinar presentation will all be made available on the Gresham House website on 18 June 2024. |
Posted at 24/5/2024 18:29 by wunderbar This is a peculiar REIT, peculiar in the fact share price continues to fall in a rising market. Today, RESI hit a new all-time low of 45.91p. Since start of 2024 the share price has fallen 19%, and since inception in July 2017, is down 53%.So what’s going on here, is this downward momentum sector related. Well, no. Most other REIT’s have bounced off their recent lows whilst RESI is stubbornly stuck in the doldrums. I’ll throw out some possible reasons. 1]. Large seller in background, desperate to take any price they can get. 2]. Concerns over debt c.£182m / LTV 50% [at 31 Sep 2023] 3]. Investors selling up, unhappy with 20% dividend cut [announced 31 Jan] - rebased from 5.16p to 4.12p. 4]. Prolonged disposal of Local Authority Portfolio [c.£20m / 6% of portfolio at 31 Sep 2023]. Was expected to complete early part of 2024. 5]. The market is sceptical re accuracy of NAV. 6]. Too Boring! Niche REIT specialising in retirement rentals/shared ownership properties. No fashionable warehouse/logistics hubs here! 7]. A combination of all or some of above. 8]. No reason at all, it is what it is! I think there’s good value down at these levels. I’ve recently bought a couple of small tranches, one at 50p, and another today at 46.5p. Really just to add a bit of diversity to my portfolio which is mainly geared towards income plays that also have potential for significant capital growth. As it stands RESI is currently yielding 8.71% based on closing price 47.3p. It trades on a c.44% discount to NAV c.85p. The valuation gap seems hugely disproportionate to me, perhaps a 15-20% discount would be more fair in today's market, this would imply a share price of 68-72p, an increase of 30-34% on current price. It's worth noting between July 2017 [inception] and mid Sept 2022, the NAV discount [in the main, barring Covid flash crash] was quite narrow/steady at 10-17%, and even traded at a premium on sporadic occasions. Of course around the middle of Sept 2022 interest rates started accelerating which in turn began decimating REIT share prices and widening NAV discounts. The rest is history. As many of you will be aware, there’s been a fair few REIT's consolidating, merging or opting to initiate wind downs this year due to persistent large NAV discounts. Given the significant discount here and noting RESI’s lowly market cap of c.£88m it might only be a matter of time before one of the above scenarios plays out here. |
Posted at 03/5/2024 11:59 by pyufak Hiya, does anyone have a contact for investor relations - e-mail or phone. The Gresham house numbers don’t seem to work amd their list compotershare as IR which is clearly wrong (I called to be 100%).Thanks |
Posted at 26/3/2023 18:33 by pyufak Thanks HugePants and IncomeInvestor. Yes, I’ve also been an investor for a long period II and am well underwater. Hence my confidence been a bit low to add in any real size. The discount rates applied to the two income streams do not seem crazy low - the below is before the addition 25bp increase in Feb.‘This was driven by 4.5% like-for-like rental growth, partially offset by c. 35 bps year-over-year increase in the weighted average nominal discount rates applied to shared ownership and retirement portfolios of c.10 bps to 6.4% and c.45 bps to 8.2% respectively.’ The directors purchases, or certainly one of them, were not small which has perked my interest. I guess; my thinking is how much more bad news can we factor into the price - but I have thought this before on RESI. I accept, as you say income investor, that the divi is uncovered but it is 94% covered and it would be covered if they hadn’t raised it from 5p - personally I think they increased it too soon |
Posted at 20/10/2022 18:15 by quepassa jonwig.more than 5 years ago, your post 13 of July 2017:- "Buyers of this and similar are virtually guaranteed their 5% yield and some inflation proofing. It suits some investors who might be concerned at the state of equity markets. And social housing has been historically a very safe sector." Care to comment?? Especially about "inflation proofing". IPO price 90p. Price now 85p Max 5 year price 120p. Horrible. As I said 5 years ago these structured vehicles are run with great indifference and are just a great feeding trough of fees for their advisors. ALL IMO. DYOR. QP |
Posted at 05/10/2021 10:39 by melloteam Just to let shareholders and prospective investors know that Residential Secure Income, Oakley Capital Investments and Strategic Equity Capital will be presenting at Mello Trusts and Funds webinar event tonight, Tuesday 5th October at 5:00pm-9:00pm. There will be over 200 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions.The Programme is as follows: 5.00 pm Reg Hoare presents his selection criteria when investing in Investment Trusts and Funds 5.20 pm Company presentation by Residential Secure Income 5.50 pm Company presentation by Oakley Capital Investments 6.20 pm Andrew Hollingworth, fund manager, presents his investment strategies and ideas 6.40 pm Company presentation by Strategic Equity Capital 7.10 pm Investment Trusts and Funds Panel Session It is free to register, just click here: |
Posted at 30/3/2020 10:07 by davebowler Residential Secure Income Reit (RESI) should be celebrating as it has just secured access to government grants that will help it expand its portfolio. Its shares also fell heavily in the pandemic scare and even after rallying with the recovery in markets and investor sentiment this week remain on an 18% discount.Its portfolio is a mix of shared ownership homes, local authority accommodation designed to alleviate the problem of homelessness and retirement rental housing. |
Posted at 05/3/2020 09:54 by davebowler Gresham House is a fast-growing specialist alternative asset management company focused on sustainable investment for its clients and shareholders. The Group currently has £2.8bn in AUM and, through its British Strategic Investment Fund (BSIF), the Group targets local housing investments on behalf of local government pension schemes. The Gresham House platform is well established and should provide opportunities for growth and investment in the RCM team. The sectors addressed by RCM's offering are key areas for Gresham House to be able to scale its social housing strategy and to broaden its sustainable offering to investors. |
Posted at 07/7/2017 11:57 by jonwig "... speciality structured property investment vehicles." Most of these trade at or near NAV, though REITs such as AGR and similar ones (health centres) trade at a double-digit premium. In contrast, the largest REITs trade at a significant discount to their navs."... run with great indifference by committee" These managers are given a remit by the BoD which is one of strong compliance, and lack of risk: safety first. Do you suggest avoiding the fees you list? Buyers of this and similar are virtually guaranteed their 5% yield and some inflation proofing. It suits some investors who might be concerned at the state of equity markets. And social housing has been historically a very safe sector. That said, too many have come to market recently so some indigestion is understandable. Their error was to state a target of £300m. Had they said £150m with the option to increase, they'd have saved some face. |
Posted at 07/7/2017 10:56 by quepassa The question is why they got 40% less than their upper target. Clearly coming nowhere close to being oversubscribed.Good luck all but I personally have never had good experiences with speciality structured property investment vehicles. They seem to me generally to be run with great indifference by committee rather than by an owner with a strong vested interest. They appear on the scene when a new sector such as PRS is hot and much in the press and grabbing investors' attention. They also appear to me to be a rich fee trough for property advisers, surveyors, solicitors, actuaries, management companies to feed off and handsomely gorge at the expense of subscribers/sharehol Whilst I am not in any way saying/inferring/imp Good Luck All. ALL IMO. DYOR. QP |
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