Social Housing Reit Share Discussion Threads

[pdt] 22/1/2025 09:34

I suspect they are at quite an advanced stage with a transfer to Inclusion if they are are bothering with holding a General Meeting to facilitate it.

On the face of it good news if they can resolve the MySpace issue within the next two or three months.

[redhorse2020] 22/1/2025 09:02

Works well providing they keep paying - feels like Tesco and Sainsbury's pose less risk on that front than social housing providers but I could be wrong.How comfortable are we with the NAV here? Looks like a bargain but the fact Triplepoint have been involved doesn't fill me with confidence...

[pdt] 22/1/2025 08:52

I guess today's announcement will allow them to transfer the MySpace assets to their biggest approved provider Inclusion. That would be about 35% of total assets. That is quite a concentration risk or in other words having most of your eggs in one basket.

However, Supermarket Income REIT who they also manage has most of their assets with sainsbury and Tesco and that arrangement works well.

Disappointing to have no income from MySpace for the best part of a year.

[cruelladeville] 09/1/2025 20:05

Very disappointed. But with the turmoil in the gilts market and a long term risk free return of ~5% it's not so surprising.

[badtime] 09/1/2025 10:46

Hmm ..not a great start to the new year for the sp

[chucko1] 02/1/2025 00:53

Huh, I bought TSLA shares, but at least I have liquidity!

[grahamg8] 01/1/2025 11:40

I just hope I can get back my deposit on the private jet.

[mark5man] 30/12/2024 19:27

lol - caused a moment of confusion for sure - who knew a name change could cause a 100 bagger

[grahamg8] 30/12/2024 16:54

I'm a multi millionaire according to ADVFN. How much do they pay their staff? Too much I think.

[cruelladeville] 24/12/2024 14:57

Hoping that from January next year, Atrato can perk up the share price here somewhat. I don't think Triple Point covered themselves in glory. Far from it.

[badtime] 28/11/2024 10:02

Ex div today

[chucko1] 21/11/2024 13:53

When the sale of the £20mn "portfolio" was originally announced, the share price moved very little. This morning's 4% move was a good one to trade against, although I did not as I needed a larger move than that to justify a further purchase to top of a current moderately sizeable position.

I did like the point about Atrato coming to the aid of the current crowd - not a minute too soon.

[pdt] 21/11/2024 13:46

I took the opportunity to add this morning.

I suspect they will get the MySpace leases transferred in 2025 with the new manager in place in January. The dividend yield of 9% is fully covered now and will be more covered when the move is completed.

The NAV will improve once leases are moved and the big discount to NAV (110p vs 60p) will narrow. An advantage is that debt is on a long fix. I don't think the sale of £20m of properties will make much difference one way or the other.

Happy to hold and collect dividend.

[naeclue] 21/11/2024 08:44

From todays announcement:

"Portfolio Sale Update

As noted in the interim results for the six months ended 30 June 2024, the Company had expected to complete on the sale of a portfolio of properties with a value in excess of £20 million in November 2024.

Despite successfully completing their operational due diligence and agreeing terms on the portfolio, the purchaser has not been able to close the funding required to progress the transaction at this time although they continue to pursue funding options."

Perhaps this explains the fall over the last week or two?

[cruelladeville] 08/11/2024 17:48

Inching towards 52 week high, hopefully. Onwards >70p in the new year.

[redhorse2020] 31/10/2024 10:17

I think there is also still a fair amount of scepticism regarding the NAV due to Triplepoints involvement - presumably that will remain until the new managers have had a chance to properly look under the bonnet of this one

[redhorse2020] 31/10/2024 10:14

It won't help Resi NAV calculations as the budget caused an immediate jump in Gilt yields. Soho's NAV on the other hand seems unaffected by this for some reason....

[williamcooper104] 31/10/2024 10:05

A big driver of the discont to NAV is concerns about the sustainability of SOHOs tenants

[williamcooper104] 31/10/2024 10:04

Yep - should do

[langland] 31/10/2024 09:50

Should help RESI as well re sale?

[williamcooper104] 31/10/2024 09:20

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

[williamcooper104] 31/10/2024 08:40

One to watch for care homes in particular

[williamcooper104] 31/10/2024 08:40

In saying that though employers NI and the min wage won't help of course

[williamcooper104] 31/10/2024 08:39

Helps the credit strength of those tenants Plus its likely the leases will be restructured to better match the tenants funding