Thanks @hindsight. Getting rates right has led more to avoiding losses, hopefully ultimately the same thing :)
@badtime - definitely. Greed/fear - easier when you've banked a little.
Nice to see it have another little spike just now, seems the buy back has had a positive effect in removing stock from the market. |
yes well done, deserve make something after calling rates right
Still little to go for me till profit, without income, despite some averaging down with part of csh cash |
Good on you ..and probably having locked in some profit it will make it easier on the mind to retain the rest |
Agree re positive news; it's only my uncertainty as to when that has had me selling some (that, & it being a rare winner). |
Nothing wrong in taking a profit. Those who bought in the 40's pence are doing nicely. Sadly, I'm not one of them.If we get some positive news soon, SOHO should rerate into the 70's pretty quickly. |
Must confess to letting some go at 66.64p. Still in plenty, but have sold on the strong days. |
Yep Of course rating agencies aren't infallible but I stable outlook is still pretty reassuring |
I think we will see a significant re rating here if/when either of the following happens;
- news of property sales
- updates on delinquent HA tennants (noting that there have been no updates for some time on this topic, and the market is pricing accordingly)
- visibility of the top of the rate cycle. Despite the fixed nature of SOHO’s debt, valuations are most impacted by rates and related adjustment to yield expectations from these assets. At the first sign of rate peak or future cuts I would expect assets like this to rally strongly. |
Positive update in an RNS this morning from SOHO - "INVESTMENT GRADE CREDIT RATING REAFFIRMED - The Board of Directors of Triple Point Social Housing REIT plc (ticker: SOHO) is pleased to announce that Fitch Ratings Limited ("Fitch") has reaffirmed the Company's existing Investment Grade, long-term Issuer Default Rating (IDR) of 'A-' with a stable outlook and a senior secured rating of 'A' for the Group's existing loan notes." |
Totally - they were on the money on this one |
Interesting article in The Times today about HOME.One reader comment "We're all supposed to dislike the short term focus of short-sellers, but what a job Viceroy has done in exposing what can best be described as a barrel of rotting fish."I agree. |
Alleged total fraud :)
Bear in mind they still won't show shareholders the full fraud report (that shareholders have paid for). |
There's been allegedly borderline if not actual fraud at HOME though. With properties allegedly being flipped multiple times at increasing values before finally landing on HOME'S books. As reported by the press anyway. So assets may actually have a lower real value than on HOME's balance sheet. I hope SOHO is actually far higher quality real estate. |
Yes. Massive difference between value of empty properties and those with a long lease tenant/operator. I suspect SOHO wont be long to announce their first sales and probably at a small discount to last redbook valuation. |
Not quite the same as the original cost on many HOME purchases was a fairytale. |
Looking at HOME today it has sold empty properties at 40% of cost not far off where SOHO is priced . |
Spoke too soon and doomed it. |
Certainly very nice to see a few days of positive price movement at last. Share price beginning with a 7 again by Q4 23? I hope. |
Optimistic on SOHO - holding firm without yet the possible good news on resolving the couple of difficulties with tenants, or yet any news on securing some sales. Catalysts to go higher, should either/both happen. |
What a terrible state of affairs at HOME and management staying in place to avoid any legal problems by stringing it out to make prosecution impossible .
It does go to show what well run companies SOHO and CSH are pity we lost CSH but I invested more in SOHO with the proceeds, There is decent value here with assets valued at around £1.30 not for everyone of course I will stay for the end game. |
Yep - that's about right I've got my losses on HOME (assuming it's a total write off - haven't had one of those before) now more than covered by realised profits on CSH and unrealised on SOHO |
This industry is about as OUT of vogue as possible. This presents a deep value opportunity with strong divi return, good potential for a bid at 30-50% share price premium, and if sentiment turns and questions over the operating model are resolved then there are significant growth prospects to be unlocked. All in all I am very comfortable holding. |
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