Social Housing Reit Share Discussion Threads

[badtime] 23/9/2022 14:30

Small top up at 75

[cruelladeville] 05/9/2022 15:54

Something is desperately needed here to get the share price moving closer to NAV. I have zero confidence in the current crop of no hoper politicians so I won't hold my breath.

[rik shaw] 05/9/2022 15:05

Telegraph article today suggests SOHO could benefit if Liz Truss diverts some money into the social care sector.

[davebowler] 10/8/2022 08:59

Liberum on Civitas Social Housing

2.7% NAV TR in Q2 2022

Mkt Cap £500m | Share price 81.8p | Prem/(disc) -26.9% | Div yield 7.0%

Event

Civitas Social Housing’s NAV per share of 111.9p, as at 30 June 2022, represented a NAV total return of 2.7% in Q2 2022. The 1.4% increase in NAV per share reflected lease indexation in the period, partly offset by capital expenditure on some of CSH's properties. The other impact on NAV in the period was attributable to share buybacks (+0.06p) impact. The net initial yield of the portfolio reduced marginally to 5.25% (Mar-22: 5.28 %).

CSH completed one acquisition in Q2, located in Wisbech, Cambridgeshire, for £0.6m. The asset is immediately income generating and subject to indexed leases with Chrysalis, an existing CSH counterparty.

Liberum view

The quarterly update is broadly in line with expectations. A key catalyst for the shares continues to be the regulatory clause CSH has been working on, in partnership with its approved providers, to help facilitate their achievement of regulatory compliance. CSH trades on a 27% discount to NAV and offer a CPI-linked, 7.0% dividend yield (based on the FY 23 target of at least 5.7p)

[hindsight] 30/5/2022 16:11

Thank you rik shaw

[rik shaw] 30/5/2022 15:47

See page 43 of the 2021 Annual Report
'Rents under the leases are indexed against either CPI
(92.6%) or RPI (7.4%), which provides investors with the
comfort that the rental income will increase in line with
inflation. Some leases have an index ‘premium’; under
which the standard rental increase is based upon CPI or
RPI plus a further percentage point, reflecting top-ups by
local authorities. These account for 7.9% of the Group’s
leases. '

[hindsight] 30/5/2022 11:00

Anyone have any offhand info on the indexing and cap on rents ie from quotedresearch on CSH they say "Across CSH’s portfolio, 27% of rents benefit from indexation at CPI+1%, with the balance of 73% at CPI. Additionally, 31% of rents are subject to a cap of 4%" and wondered how land lies with SOHO

[rik shaw] 30/5/2022 10:36

The RNS on 8 March set out proposed changes to the Investment Policy to address the key concerns of the Regulator.


These changes was approved at the AGM last week.

[dandigirl] 30/5/2022 10:20

This is why the share price fell last year.



I would have hoped that these matters would have been resolved by now.

[frederickbloggs] 30/5/2022 07:48

Thanks. Be nice to see some share price appreciation here after being caught up in the fall out elsewhere in the sector sending the SOHO share price southwards in sympathy.

[rik shaw] 30/5/2022 06:19

Increased NAV and forecast dividend plus dividend declaration

[rik shaw] 03/3/2022 13:02

interim dividend in respect of the period from 1 October 2021 to 31 December 2021 of 1.30 pence per Ordinary Share, payable on or around 25 March 2022 to holders of Ordinary Shares on the register on 11 March 2022. The ex-dividend date will be 10 March 2022

[theprovosts] 22/2/2022 12:37

Surely the next dividend is due soon? Picked up some today

[badtime] 21/2/2022 11:21

Continued weakness ...hmm

[hugepants] 06/2/2022 21:59

This has dropped quite a bit the last 4-5 months. Presumably in sympathy with CSH. 5.6% yield and a 13% discount to NAV at this price

[badtime] 24/1/2022 19:03

I made a little top up ..middle of the day ..got that one wrong ...sigh

[cwa1] 24/1/2022 15:58

Clearly I badly mistimed my little punt ;-)

[dandigirl] 24/1/2022 15:35

... and still buying.

[badtime] 24/1/2022 14:03

Still crossed

[cwa1] 12/1/2022 13:36

Decided to take a punt on a few between yesterday and today. Fingers crossed now...

[dandigirl] 12/1/2022 11:04

CWA1: See 83/84. Am still buying below 100.

[cwa1] 11/1/2022 15:29

It seems to be an unpopular counter at the moment. Constantly drifting off with the bid being taken out by ATs regularly.

Is it wrong of me to be eyeing it up for a purchase? ;-)

Anyone else considering it? What price represents good value levels for you?

[dandigirl] 05/1/2022 10:42

IMV SOHO was oversold on the news that one of their landlords had not satisfied some box-tickers regarding the admin of their properties. Rent continues to be paid as normal. Think SOHO will rise again after news that box-tickers are happy to tick their boxes. Have been topping up monthly and will continue to do so while share price remains below 100.

[hindsight] 04/1/2022 14:00

Brought a few, seems better value than CSH now