Triple Point Social Hous... Share Discussion Threads

[spectoacc] 18/4/2023 15:56

Owned by Norfolk Trustees Limited, a lot of Accounts For a Dormant Company.

The Earl of Arundel a director, pretty sure no SOHO connection.

[spectoacc] 18/4/2023 15:54

Interesting q - are CBRE pitching it?

[flyer61] 18/4/2023 15:49

anybody know if Norbury Court in Sheffield is one of SOHO's?

[cruelladeville] 18/4/2023 09:05

Agreed. Liquidating the entire portfolio would be better than a share price of ~50p, I think.

[chucko1] 18/4/2023 08:41

At the discount this is on, sell anything. In fact, sell everything.

[wskill] 18/4/2023 08:38

Why sell the best better to sell the property which requires the most work to upgrade and lowest epc grade .

[cruelladeville] 18/4/2023 08:35

Yes, agree with you. Lack of bad news hasn't been enough to get this share out of the 40p's. Need to see some positive news coming through.

[chucko1] 18/4/2023 08:35

Far more interesting, yes. This will be far higher once the market sees the colour of the prices stained.

[spectoacc] 18/4/2023 08:17

£5m into a thin market might help, but much more interesting is the appointment of CBRE to sell a portfolio of the properties. If that happens - depending on price, and whether anyone can work out if it's just a selection of the best - then it ought to go some way to validating the 109p NAV.

[cruelladeville] 18/4/2023 07:17

£5 million share buy back announced in RNS this morning. With the shares having been through the mincer, it makes sense to me.

[cruelladeville] 14/4/2023 16:26

I keep thinking the worst is past for the share price here. Wrong every time. It seems.

[cruelladeville] 04/4/2023 18:14

Look up today's RNS.

[tradez4dayz] 04/4/2023 16:36

What's behind today's bounce

[wish i wasnt in rbs] 04/4/2023 13:42

Hope you had the courage of your convictions.

[cruelladeville] 04/4/2023 12:49

Told you so! LOL.

[cruelladeville] 03/4/2023 13:02

Doom remains spectacularly over done here?

[spectoacc] 15/3/2023 08:44

Divi uncovered this year, and:

"In addition, as noted in the Chair's Statement and the Investment Manager's report, we are considering including a new clause in the Group's existing leases. The aim of this clause is to protect Registered Providers if factors beyond their control, such as a change in government policy in relation to Specialised Supported Housing rents...."

So they do at least recognise what may be coming.

[spectoacc] 15/3/2023 08:32

On holiday so taking the time to have a look.

Surely no longer in a closed period now results have been released - so why no director buying?

Why isn't rent collection stronger?
"91.8% of rent due was collected during the year, 25 out of the Group's 27 lessees recorded no material rent arrears.'

"Whilst the Group is well placed to navigate the current economic headwinds, we must acknowledge that the Group's Approved Providers have been presented with significant operating challenges. We continue to work closely with our counterparties whose operating margins have come under pressure from increases in maintenance, staffing and energy costs at a time where local authorities and central Government are tightening fiscal policy. Rent collection during the year fell below historic levels of 100% to 91.8%. As noted in the Company's recent trading update, these rent arrears are predominantly attributable to two Approved Providers, My Space Housing Solutions and Parasol Homes. "

Can't help but think of HOME going from 100% (it wasn't) to 23% & falling.


"As noted in our recent trading update, in order to deliver value to shareholders, the Board and Manager are exploring making accretive share buybacks outside of a close period and the potential sale of a portfolio of the Group's properties"

Does that mean the buybacks only happen once some property is sold? They need to get in ahead of HOME liquidating! Yet they have cash, so I don't see why the inaction.

Main bear point for me is always political risk - fail to see how a Labour govnt won't make life harder for the social housing providers.

But everything has its price...

[flyer61] 14/3/2023 10:28

Two isolated incidents.....equals 17.5% of the rent roll. Lets hope they can sort things out with my Space and Parasol.

[flyer61] 14/3/2023 10:10

Also interesting one their website they have not updated their general guff (news) for 9 months....including this years dividend information

[cruelladeville] 10/3/2023 10:02

I agree. This is ripe for a Chinese or Middle East buyout. A crying shame but the share price seems stupid presently.

[wskill] 09/3/2023 19:54

Would have thought that the FEDs hawkish viewpoint will have little effect on SOHO with borrowing cost fixed for more than 10 years ahead, but looking like I am wrong again .
Cannot see the UK Government wanting to run these units through local council offices they closed most of the ones they ran as costs were out of control.

[fevertreeman] 09/3/2023 11:53

Something or someone has spooked the horses again......almost 1m shares traded and down another 3.5%.....Blackrock selling more ?

This really is getting silly....Given its barely a week since the blasted FY results, when supposedly everything was hunky dory, management if they had any commercial sense, be either stepping in with drectors buys to show confidence in the strategy, or even more pertinently getting on with a buy back. If they dont , s/o is going to start agitating hard, and wouldnt be surpriased if Private Equity or a big property outfit isnt running slide rule over this...

[cruelladeville] 04/3/2023 14:27

I feel the same I see nothing bad in the results. A share buy back is a no brainer with the massive discount to NAV here.