Share Name Share Symbol Market Type Share ISIN Share Description
Residential Secure Income Plc LSE:RESI London Ordinary Share GB00BYSX1508 ORD GBP0.01
  Price Change % Change Share Price Shares Traded Last Trade
  -0.40 -0.44% 89.60 71,350 16:35:09
Bid Price Offer Price High Price Low Price Open Price
89.20 90.00 90.00 89.20 89.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 32.20 2.45 1.40 64.0 162
Last Trade Time Trade Type Trade Size Trade Price Currency
16:28:46 AT 1,032 89.20 GBX

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Residential Secure Income Daily Update: Residential Secure Income Plc is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker RESI. The last closing price for Residential Secure Income was 90p.
Residential Secure Income Plc has a 4 week average price of 86.40p and a 12 week average price of 86.40p.
The 1 year high share price is 101p while the 1 year low share price is currently 69p.
There are currently 180,324,377 shares in issue and the average daily traded volume is 107,257 shares. The market capitalisation of Residential Secure Income Plc is £161,570,641.79.
cwa1: Residential Secure Income plc Acquisition of 85 new build homes for shared ownership Homes acquired from Brick By Brick, the development company set up by Croydon Council Residential Secure Income plc ("ReSI") (LSE: RESI), which invests in affordable shared ownership, retirement and local authority housing, has exchanged contracts for GBP29 million to acquire up to 85 newly completed homes for delivery as shared ownership. The properties are being acquired from Brick By Brick, the housing development company set up to deliver a large programme of high quality and affordable homes for local people across the London Borough of Croydon. The transaction will allow Brick By Brick to offer these homes as shared ownership, accelerating the delivery of much-needed affordable homes and returning the proceeds of the sale to the London Borough of Croydon to be spent on frontline services. The homes will be held by ReSI's wholly owned registered provider of social housing, ReSI Housing, and part financed by government grant. The acquisitions will be completed in a staggered manner to align with when purchasers are ready to occupy the properties. This is expected to happen rapidly, as 90% of Brick By Brick's available homes for sale are already reserved. The portfolio consists of one, two and three-bedroom apartments in new developments in Upper Norwood, Thornton Heath and South Croydon in South London, designed by outstanding architects, including RIBA Stirling Prize-winning Mikhail Riches. The homes have been developed to a high specification, with timber parquet flooring, Silestone worktops, Bosch appliances and private balconies. The homes meet or exceed ReSI's sustainability criteria and include secure cycle storage, solar energy, electric vehicle charging points, and have an energy efficiency Environmental Performance Certificate rating of B or higher. Shared ownership allows a purchaser to buy a property with a lower deposit requirement and lower annual costs, making the apartments more affordable and allowing local individuals and families to get onto the housing ladder. The homes will follow ReSI's best practice approach, as set out in its shared ownership customer and environmental charters and will be available starting at 25% shared owner stakes on 250-year shared ownership leases. The deal brings ReSI's total shared ownership portfolio to 281 homes and will be funded through the GBP300m 45-year debt facility ReSI put in place in July. Upon occupation, each home will be fully income generating, with an expected inflation-linked leveraged yield which supports ReSI's 8% total return and c. 5% dividend targets. Assuming that the shared owners each acquire approximately 25% of their asset from ReSI on occupation, the acquisition commits more than half of the GBP32m capital still required to reach ReSI's target 50% leverage. Earlier this month, ReSI reported resilient rent collection, at more than 99% for the year to September. This is in line with normal performance and was unchanged through the Covid-19 pandemic, supporting virtually flat investment valuations for the year. ReSI's recent shared ownership deals include the July 2020 purchase of the final 73 apartments at Clapham Park, London, from Metropolitan Thames Valley Housing, and 39 houses from Step Forward, in Cheshire, Lancashire and Yorkshire, also in July. Ben Fry, investment manager of ReSI Capital Management and head of housing at Gresham House, said: "We are delighted to help Brick By Brick increase its delivery of affordable homes, while generating a return for the London Borough of Croydon. These homes exemplify the sort of high-quality assets we seek, delivering value and housing security to first-time homeowners, and meeting the pressing housing needs of London and the rest of the UK. We see this as the start of a long-term partnership with Brick By Brick to facilitate its delivery of much needed affordable homes. "This investment further diversifies our portfolio and is a key step to reaching full dividend cover by the beginning of October 2021. We look forward to updating shareholders on further progress in 2021." Colm Lacey, Chief Executive at Brick By Brick added: "Brick By Brick's partnership with ReSI will help us to realise the delivery of high-quality and affordable housing in Croydon and accelerate the returns we provide to our shareholder Croydon Council. ReSI's approach means we are transacting with a registered provider of social housing that delivers best-in-class shared ownership and provides long-term housing security for Croydon's residents." ENDS ENDS
income investor: I watched the management presentation of the results. They are hoping to achieve 4p per share of rental income etc in this financial year - 100% cover at last 12 months away. I suspect it will be even longer given previous statements!!
pyufak: i think needs to achieve dividend cover for any material move in this share price upwards; for now sideways or drift off until we get that
cwa1: Very modest after hours announcement of a Director's purchase:- 18 August 2020 Residential Secure Income plc Share Purchases Residential Secure Income plc ("ReSI") (LSE: RESI), which invests in affordable shared ownership, retirement and Local Authority housing, announces that on 13 August 2020 Elaine Bailey, Non-Executive Director of ReSI, purchased the following number of ordinary shares in the Company. PDMR Date Acquired Number of shares acquired Elaine Bailey 13 August 2020 5,000 ---------------- -------------------------- ReSI's Non-Executive Directors now hold 168,552 ordinary shares. The total number of ordinary shares owned by the directors and former directors of the Investment Manager is 2,413,517. The Investment Manager also owns 752,989 ordinary shares directly. The Investment Manager and its current and former directors thus hold 3,166,506 ordinary shares, 1.95% of shares in issue (excluding shares held in treasury).
skinny: Acquisition of 39 shared ownership homes. Residential Secure Income plc ("ReSI") (LSE: RESI), which invests in affordable Shared Ownership, retirement and Local Authority housing, has acquired 39 shared ownership homes for a total consideration of £3.5 million including deferred payments. The properties have been purchased from Step Forward Homes, which specialises in the provision of homes for key workers, in particular the Armed Forces and Emergency Services personnel. The portfolio is located across the north west of England and comprises 24 two and three bedroom homes that will be immediately income generating, enhancing ReSI's dividend cover. The remaining 15 homes will be acquired by ReSI within six months once construction is completed and the homes are occupied. The acquisition brings ReSI's total shared ownership portfolio to 205 homes and is funded through ReSI's new ultra-long term £300 million debt facility. Gary Metcalf, Director at Step Forward Homes said: "The proceeds from this timely sale will be recycled into the development of further, much needed affordable homes for key workers. This is the first transaction we have worked on with the team at ReSI and we are looking forward to building a longer term relationship with them as Step Forward works to create a lasting social impact." Ben Fry, Investment Manager of ReSI Capital Management, commented: "We are particularly pleased to have completed this transaction against the current backdrop where many families, particularly those of key workers, are facing challenging situations where we can help meet a clear need. This is a portfolio of high quality homes that further expands our shared ownership exposure and enables us to support housing delivery at a time when the supply is starved."
rambutan2: Looks a great deal to me: The facility provides ReSI with long term and low cost funds to achieve full income generation and subsequently grow its shared ownership portfolio . The RPI-linked debt has an annual coupon of 0.461% whilst the debt principal will inflate in line with the RPI linked rent in ReSI's shared ownership leases, with an RPI collar of 0% and 5% p.a. The debt was arranged for ReSI by TradeRisks Limited and is interest only for the first three years and then will fully amortise over its remaining 42 years, with the fixed amortisation payments representing approximately 2 to 3 per cent of the principle per annum. Reflecting no refinancing risk and the strength of the shared ownership cashflows, the facility's covenants are cashflow based, rather than valuation linked, thus ensuring covenant compliance is fully in ReSI's control.
skinny: Net Asset Value & Corporate Update. Financial highlights: · IFRS NAV per share of 106.9 pence1 (31 December 2019: 107.7 pence), resulting in a total return for the quarter of 0.5 pence and taking the NAV total return to 0.8 pence for the half year to date · Total property portfolio value of £276.9 million (31 December 2019: £260.3 million), with a marginal 0.1% decrease (£0.3 million) in like-for-like valuation due primarily to a 1.2% or £2.7 million reduction in the net present value of cashflows in the independent retirement rental portfolio caused by the onset of COVID-19, offset by a 10% or £2.7 million valuation gain in the shared ownership portfolio as it progresses towards full income generation · In light of current market uncertainty created by COVID-19, the valuations have been reported on the basis of 'material valuation uncertainty' in line with recent RICS guidance Dividend: · The Company announces that it intends to pay its quarterly dividend of 1.25 pence per Ordinary Share for the period from 1 January to 31 March 2020 in full, and reaffirms its target dividend of 5.0 pence per Ordinary Share for the current financial year2 Update on portfolio and corporate activity since 31 December 2019: · Total portfolio rent continues to be secure, with 98% of April rent collected by 27 April 2020, in line with normal performance, with further rent to be received from Local Authorities who pay at the end of the month · As of 29 April 2020, ReSI had 93 completed shared ownership homes with 55 occupied, 26 reserved and moving to completion and 12 currently available · Three shared ownership completions and four reservations have been transacted since 30 March 2020. This follows an initial slowing of activity as the country began to prepare for and subsequently entered lockdown, and indicates a gradual reversal of this trend with virtual viewings also increasing and shared ownership mortgages now available with LTVs of up to 95% · The net rent on completed shared ownership homes is currently £498,000, with a further £274,000 on those reserved and moving to completion, or 0.5p per share in total · Following the acquisition of ReSI Capital Management by Gresham House plc during the quarter, ReSI is looking to leverage the buying power of Gresham House to reduce certain fund operating expenses and hence reduce the Company's total expense ratio · ReSI Housing was awarded Investment Partner status by Homes England in March 2020, extending ReSI's access to government grant funding to include schemes outside London and bring forward much needed additional Affordable Housing at national level · On 27 April 2020, Elaine Bailey joined the board of ReSI as an independent Non-Executive Director with Mike Emmerich stepping down as a Non-Executive Director on the same date. more.....
rambutan2: Well worth having: 19(th) March 2020 Residential Secure Income plc ReSI Housing awarded Investment Partner status by Homes England Residential Secure Income plc ("ReSI") (LSE: RESI), which invests in affordable shared ownership, retirement and Local Authority housing, is pleased to announce that ReSI Housing, its wholly owned For-Profit Registered Provider of Social Housing has been awarded Investment Partner status by Homes England, the U.K. government public body that funds new affordable housing in England. The new status allows ReSI to access Homes England's GBP4.7 billion Shared Ownership and Affordable Homes Programme "SOAHP" 2016-21. ReSI Housing is already an Investment Partner with the Greater London Authority ("GLA") and, as previously announced, has secured GBP6 million of government grant to date to support the ongoing delivery of ReSI's shared ownership portfolio in London. Investment Partner status with Homes England extends ReSI Housing's abil i ty to access grant funding to include schemes outside of London and bring forward much needed additional Affordable Housing at national level. Both the new Homes England and the GLA programmes provide government grant funding as a capital contribution towards new sub - market rented housing such as shared ownership, affordable rent and social rent. Alex Pilato, CEO of ReSI Capital Management, commented: "Achieving Investment Partner status from Homes England allows ReSI to help them bring forward much needed new affordable housing right across the UK, working with national House Builders in allocating funds efficiently."
rambutan2: Well yes, it did get a bit cheaper (low 70ps) and so I persuaded myself to add a few. As, it turned out, did the management... Residential Secure Income plc ("ReSI") (LSE: RESI), which invests in affordable shared ownership, retirement and Local Authority housing, announces that between 16 March 2020 and 18 March 2020 Robert Gray, Non-Executive Director of ReSI, Alex Pilato, Chief Executive of ReSI Capital Management Limited, ReSI's Investment Manager, James Sly, Financial Director of ReSI Capital Management Limited and Ben Fry, Managing Director of ReSI Capital Management Limited, purchased the following number of ordinary shares in the Company. Name Shares purchased Total shares between 16/03/2020 owned and 18/03/2020 Alex Pilato 32,136 1,251,690 -------------------- ------------- Robert Gray 33,552 108,552 -------------------- ------------- Ben Fry 24,843 100,000 -------------------- ------------- James Sly 2,500 2,500 -------------------- ------------- The total number of ordinary shares now owned by the directors of the Investment Manager is 2,413,517. The Investment Manager also owns 489,386 ordinary shares directly. The Investment Manager and its directors thus hold 2,902,903 ordinary shares, 1.77% of shares in issue (excluding shares held in treasury). ReSI's Non-Executive Directors hold 118,552 ordinary shares.
davebowler: Liberum; Residential Secure Income Gresham House acquires ReSI's Fund Manager Group Mkt Cap £162m | Prem/(disc) -12.2% | Div yield 5.3% Event Residential Secure Income (ReSI) has announced that TradeRisks Limited, the parent company of ReSI's manager, Residential Capital Management Limited, has been acquired by Gresham House plc. Gresham House will pay initial consideration of £7.0m, with further consideration of up to £4.0m payable subject to the achievement of certain performance criteria. Residential Capital Management will continue in its role as the manager of ReSI, with the day-to-day operations remaining unchanged under the current team. ReSI has also announced that Residential Capital Management CEO Jon Slater will retire and will be succeeded by TradeRisks CEO Alex Pilato.
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