A big driver of the discont to NAV is concerns about the sustainability of SOHOs tenants |
Yep - should do |
Should help RESI as well re sale? |
It's the housing associations/charities that sign the leases and then get payments from the public sector for providing their tenants with homes The issue with the sector has been that established housing associations with good covenants have been wary of signing up to long term/RPI leases |
One to watch for care homes in particular |
In saying that though employers NI and the min wage won't help of course |
Helps the credit strength of those tenants Plus its likely the leases will be restructured to better match the tenants funding |
But the contracts SOHO have via their managers have fixed rent increases anyway. Why would the proposals mentioned by Rachel make any difference? |
What's not to like A rare winner from the budget Glad topped up |
The Government will also consult on a new 5-year social housing rent settlement, which caps the rents social housing providers can charge their tenants, to provide the sector with the certainty it needs to invest in new social housing. The intention would be for this to increase with Consumer Price Index inflation figures and an additional 1%. The consultation will also seek views on other potential options to give greater certainty, such as providing a 10-year settlement. |
Agreed, I think this will rise over the next week after the focus and attention to social housing in the budget are factored in by investors. Well done Rachel Reeves |
Nice to see a bit of share price perkiness here at last. Hoping over the next year or so to see that continue. The country is hugely short of the facilities SOHO provide. |
FT article: Treasury confirms plans for inflation busting rise in U.K. social housing. Reeves intends to introduce a formula in next week's Budget that will increase annual rents in England by the consumer price index measure of inflation - currently 1.7 per cent - plus an additional 1 per cent. |
Just the big UT at 63 after hours.Should tick up on Monday. |
Any idea why the drop today |
Divi paid in both IG Index and iWEB this morning. |
my dividend from SOHO has landed in my broker account. It wasn't there first thing this morning.
Asagi (long SOHO) |
They're good - they manage SUPR - have built up a social/assisted housing team - took over the management of the private HOME reit |
SOHO can close the gap a bit with a buy back. I'm expecting that soon and we should get to 80p. |
Hope not SOHOs about 2.5x the market cap of RESI so it's got a shot at getting to a reasonable size to get a cheaper cost of equity RESIs assets didn't work that well together - one a pure duration play and the other an operating intensive set of properties |
Take a look at RESI. Throwing in the towel in order to close the discount gap. Perhaps SOHO need to do the same. |
Well, that's my line of thinking. But there folks out there know a lot more about this business than I do. Hence the question. |
They couldn't be any worse than Triple Point. Could they?? |
Only just noticed the upcoming change of management from Triple Point to Atrato probably January next year. I don't actually know anything really about either of them. Any likely upside for shareholders after the management change or just business as usual? Thanks. |
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