Social Housing Reit Share Discussion Threads

[loglorry1] 31/10/2024 08:37

But the contracts SOHO have via their managers have fixed rent increases anyway. Why would the proposals mentioned by Rachel make any difference?

[williamcooper104] 30/10/2024 20:16

What's not to like A rare winner from the budget Glad topped up

[ricky47] 30/10/2024 19:35

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.

[mark5man] 30/10/2024 18:51

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

[cruelladeville] 30/10/2024 18:46

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.

[jpatara3] 26/10/2024 17:18

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.

[shauney2] 18/10/2024 21:10

Just the big UT at 63 after hours.Should tick up on Monday.

[williamcooper104] 18/10/2024 19:09

Any idea why the drop today

[woodhawk] 04/10/2024 11:13

Divi paid in both IG Index and iWEB this morning.

[asagi] 04/10/2024 10:54

my dividend from SOHO has landed in my broker account. It wasn't there first thing this morning.

Asagi (long SOHO)

[williamcooper104] 03/10/2024 16:34

They're good - they manage SUPR - have built up a social/assisted housing team - took over the management of the private HOME reit

[loglorry1] 03/10/2024 16:33

SOHO can close the gap a bit with a buy back. I'm expecting that soon and we should get to 80p.

[williamcooper104] 03/10/2024 16:17

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

[grahamg8] 03/10/2024 15:53

Take a look at RESI. Throwing in the towel in order to close the discount gap. Perhaps SOHO need to do the same.

[cruelladeville] 03/10/2024 15:12

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.

[kernelthread] 03/10/2024 11:09

They couldn't be any worse than Triple Point. Could they??

[cruelladeville] 03/10/2024 11:00

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.

[williamcooper104] 01/10/2024 13:40

Not SOHO specific but usually because they get paid to do so, either through raising more from a sale and leaseback than they otherwise would and/or getting cash from the landlord or other incentives - eg the landlord does the fit out the tenant should do and gives a large rent free and accepts an SPV covenant such that the tenant has a free/cheap option I've been shorting a large US hospital reit for the last 2.5 years - MPW that did all of this - and more HOME reit was SPV tenants with the landlord supposedly funding the fit out but that money then been used to pay the landlord thier rent once the rent frees had expired

[redhorse2020] 01/10/2024 13:18

Good question - also, what impact does the over renting have on NAV? Guessing the value these properties are held at is considerably more than their market value given triplepoint have been involved....

[xxx] 01/10/2024 08:03

Trying to understand the incentives here.Why would a care provider want to contract in a patient/client to over rented accomodation rather than to accomodation that reflects market rates ?

[madmix] 30/9/2024 12:16

Thanks. Sounds reasonable.

"There’s plenty of room in the share price to allow for it"

I tend to agree. Just considering what the market reaction might be under such circumstances.

[williamcooper104] 30/9/2024 11:56

At a guess take away 10% of the income to reduce the GAV by c5-7%There's plenty of room in the share price to allow for it

[madmix] 30/9/2024 11:41

"In the current market this shouldn’t trade at more than a 20% discount to a kitchen sinked NAV"

Any thoughts on what the kitchen-sinked NAV is likely to be?

Just plucking a figure out of the air, a 20% cut in NAV to 90p would put this on a 28% discount at the current price.

[williamcooper104] 30/9/2024 11:36

Or in simple terms; the current valuation will have priced in some degree of rent cuts in the future