Share Name Share Symbol Market Type Share ISIN Share Description
Triple Point Social Housing Reit Plc LSE:SOHO London Ordinary Share GB00BF0P7H59 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.00 -0.95% 104.60 885,250 16:35:26
Bid Price Offer Price High Price Low Price Open Price
104.80 105.20 106.00 104.80 106.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 28.93 24.59 6.82 15.3 421
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:26 O 381,900 105.00 GBX

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17/5/202117:32Triple Point Social Housing68

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Triple Point Social Hous... Daily Update: Triple Point Social Housing Reit Plc is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker SOHO. The last closing price for Triple Point Social Hous... was 105.60p.
Triple Point Social Housing Reit Plc has a 4 week average price of 103.40p and a 12 week average price of 100p.
The 1 year high share price is 113.50p while the 1 year low share price is currently 92.20p.
There are currently 402,789,002 shares in issue and the average daily traded volume is 618,919 shares. The market capitalisation of Triple Point Social Housing Reit Plc is £421,317,296.09.
davebowler: Marten and Co- The leading UK social housing investor, Civitas Social Housing (CSH), is on a firm footing as it steps up its growth plans. It has the investment firepower to grow its portfolio after securing new debt facilities. Significantly, it has also attained an investment grade credit rating that not only gives it access to the bond market and cheaper debt, but provides a big vote of confidence for the lease-based model in the social housing sector. Strong operational performance, including a rent collection rate that was unaffected by the pandemic, coupled with the planned growth of the portfolio, has given the board the confidence to raise its dividend target for the year to March 2022 above inflation forecasts. SECTOR: PROPERTY – UK RESIDENTIAL TICKER: CSH LN BASE CURRENCY: GBP(PENCE) PRICE: 116.4P NAV: 108.3P PREMIUM/(DISCOUNT): 7.5% YIELD: 4.6%
davebowler: Liberum; Small dividend increase for 2021 Mkt Cap £424m | Share price 105.2p | Prem/(disc) -1.3% | Div yield 4.9% Event Triple Point Social Housing REIT has increased its dividend target for FY 2021 to 5.20p (FY 2020: 5.18p), representing an increase of 0.4% (in line with February 2021 CPI growth). NAV per share at 31 March 2021 was 106.55p, reflecting a quarterly NAV total return of 1.3% (5.7% over the last 12 months). The manager has reported consistent rent collection in the period. Liberum view The company has typically set the dividend target on the basis of the February CPI data. Dividend cover in 2020 was 0.89x and was impacted by slightly slower deployment than expected as housing associations delayed taking on new leases. The run-rate dividend was recently reported as 0.98x including contracted income from forward funding commitments. This should improve as the manager has reported a £150m pipeline of investment opportunities which would deploy its remaining cash of £38m and the undrawn £30m available under the revolving credit facility.
davebowler: Encouraging info on Civitas from Liberum; Mkt Cap £728m | Share price 116.8p | Prem/(disc) 7.8% | Div yield 4.8% Event Civitas Social Housing's NAV per share at 31 March 2021 was 108.3p, representing a NAV total return of 1.4% in Q1 2021. Income remains the principal driver of returns. There was a slight uplift from indexation of leases in the period which was partly offset by capex on some of the properties. The net initial yield of the portfolio has reduced slightly to 5.24% (5.26% at December 2020). CSH has maintained a high level of rent collection. 99% of rents have been received for Q1 2021 with the remainder expected shortly. This has resulted in strong cash generation and 100% dividend cover on a run-rate basis. Dividends of 5.4p have been declared for the 12 months to March 2021 (in line with guidance) and the company has increased the target for FY 2022 by 2.8% to 5.55p. We expect further improvements in the dividend cover following the agreement of an £84.5m debt facility with M&G in the period. £11m has been drawn from this facility to date to fund the acquisition of 15 supported living and care facilities in South Wales. Civitas is also in discussions with a number of local authorities and charities to provide long-term accommodation for people suffering from homelessness. This will help to broaden its range of counterparties. Following the recent investment grade rating from Fitch, Civitas is working with its lenders to reduce its cost of funding whilst also increasing flexibility. The number of incidences of Covid-19 amongst staff and tenants has remained at low levels. Several factors have contributed to this, including the configuration of many of the properties as self-contained apartments and the personalised care provision. The vaccine programme has been widely rolled out to both residents and staff. Liberum view The target dividend increase for FY 2022 is well ahead of the latest CPI measure of 1.0% at 31 March 2021. The uplift is also 1.3% ahead of our 5.48p dividend forecast for FY 2022. We expect full dividend cover on the increased payout. The agreement of the M&G debt facility provides capital to fund part of the investment pipeline and will bring the LTV ratio towards the 35% target. Operationally, the portfolio has performed well throughout the pandemic. The properties provide essential care services and vital accommodation for vulnerable people and we note comments from the manager regarding the consistent increase in demand for suitable, adapted housing. The closure of long-stay hospitals is one of a number of factors driving demand for specialist supported housing. The latest figures from NHS England show a further 3.5% decline in available beds for people with mental illness and learning disabilities over the last four quarters. The recent investment grade rating obtained from Fitch is an important milestone for the company. This is the first credit rating in the specialist supported housing sector and is a validation of both the company and the sector. The A rating is in line with Assura and the larger housing associations in the social housing sector. It should provide scope for debt cost savings and improvements in EPRA EPS over time.
income investor: Company announced today it had raised £55m through open offer, placing and subscription offer. On 30 September it said it was targeting an equity raise of £70m. Shareholders under the open offer took up approx 25% of the shares available to them. With the share price hovering around the offer price, there wasn't much to go for. I did take up my basic entitlement under the open offer, but glad I didn't apply for any excess.
cwa1: Well, gone below the offer price by quite a bit now. Have pulled my order and pondering whether to buy direct in the market now, or just to leave it. Still happy with the company fundamentally though.
rik shaw: Dividend increase and declaration: hTtps://
rik shaw: Good update: hTtps://
badtime: Variation on words ..share with us your wisdom of why oh great one
davebowler: hTTps:// The share prices of the social housing funds, Civitas Social Housing (CSH) and Triple Point Social Housing Reit (SOHO), were creeping back towards premium territory at the start of the year. Now both sit on substantial discounts of 16% and attractive yields of 6%. This is puzzling because both trusts have some of the most predictable revenues of any I can think. To revisit the investment case which I made a year ago about SOHO, people with special needs need specialist accommodation adapted to their requirements. CSH and SOHO provide this and their rents are paid by local authorities using funds provided by central government. Demand for the properties exceeds supply and much of the rental income rises with inflation. Civitas had one small problem with a housing association renting its properties back in 2018 that cost it about £300,000. This compares to a rent roll of £46.5m at the end of September 2019, which is higher today.
davebowler: RNS 6 Sept Chris Phillips, Chairman of Triple Point Social Housing REIT plc, commented: "Looking back over the past six months, and forward over the next six months, there is much to be pleased about. As expected, our existing portfolio has performed well and we have continued to deploy funds into high-quality assets leased to Approved Providers which continue to strengthen as a result of ongoing regulatory engagement. Commissioners continue to call for new housing, as reflected in our pipeline of close to GBP400 million. We continue to refine and evolve our due diligence processes and we have never failed to receive rental payments in full under our leases. For all these reasons, and despite movements in the Company's share price, our continued operational performance makes us look to the future with optimism."
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