Social Housing Reit Share Discussion Threads

[grahamg8] 01/9/2023 06:27

Wskill, move your decimal point. It’s 1% of the portfolio. But the point is good, sold at ~ book value.

[wskill] 01/9/2023 06:23

At least the sales were at asset values would have hoped for a few more but its a start 10% of the £70m portfolio without borrowings sold.

[spectoacc] 01/9/2023 06:21

This is good, but I'd question some of the wording. Hope they put it to more buy backs to remove the overhang of the sellers:


"Further to the Company's trading update announcement on 3 February 2023 (RNS: 8064O), the board of Triple Point Social Housing REIT plc (the "Board") is pleased to announce the completion of the sale of four specialised supported housing properties (the "Sale Portfolio") for an aggregate consideration of £7,586,600 to a private UK real estate investment firm. The aggregate consideration for the Sale Portfolio reflects a gain of £663,136 (9.6%) against the aggregate purchase price (excluding transaction costs) and is principally in line with the portfolio's book value of c.£7,870,000 as at 30 June 2023."

[badtime] 24/8/2023 16:23

Looks like Blackrock have been selling ..MIGHT explain recent weakness

[superiorshares] 16/8/2023 19:17

Set all that aside .
Back to my original question.
How can there be significant rent arrears ?
These multi tenanted properties that provide this type of housing is incredibly lucrative to the agencies that run them .
The rent is guaranteed because its payed for by the government.
How did these arrears arise ?

[superiorshares] 16/8/2023 19:14

SpectoAcc.
Deeper research..ISL one of the partners of Soho...provides support for Junkies and people with mental health.
Also mentions vulnerable another buzzword.
It tells you it supports people in assisted housing so they can be closer to their families... People who should be in prison this is who they are referring too.
It's shows you pictures of disabled people. This is for the sleepy whites brain so they don't understand the sheer scale of Britain's secret prisons .

[superiorshares] 16/8/2023 17:57

I have got it right . These Soho properties are communal living areas and not individual houses?

[spectoacc] 11/8/2023 08:22

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.

[hindsight] 10/8/2023 07:57

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

[badtime] 09/8/2023 18:56

Good on you ..and probably having locked in some profit it will make it easier on the mind to retain the rest

[spectoacc] 09/8/2023 18:17

Agree re positive news; it's only my uncertainty as to when that has had me selling some (that, & it being a rare winner).

[cruelladeville] 09/8/2023 16:47

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.

[spectoacc] 09/8/2023 14:51

Must confess to letting some go at 66.64p. Still in plenty, but have sold on the strong days.

[williamcooper104] 07/8/2023 14:17

Yep Of course rating agencies aren't infallible but I stable outlook is still pretty reassuring

[indalo] 07/8/2023 13:20

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.

[cruelladeville] 07/8/2023 10:42

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."

[williamcooper104] 05/8/2023 14:38

Totally - they were on the money on this one

[cruelladeville] 05/8/2023 14:21

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.

[spectoacc] 04/8/2023 18:33

Alleged total fraud :)

Bear in mind they still won't show shareholders the full fraud report (that shareholders have paid for).

[cruelladeville] 04/8/2023 15:55

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.

[moth1] 04/8/2023 12:15

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.