Edison Investment Research - Civitas Social Housing Plc (CSH) Civitas Social Housing - No COVID-19 impact and increased DPS target

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Edison Investment Research

Martyn King

Civitas Social Housing - No COVID-19 impact and increased DPS target

The COVID-19 pandemic has thus far had no impact on Civitas Social Housing’s rent collection or financial performance and the portfolio continues to grow and perform as expected. In the three months ended 31 March 2020 (Q420), IFRS NAV per share increased marginally and quarterly dividends continued. As a result of continuing acquisitions and CPI-linked rental growth, the run rate of dividend cover has reached 100% and the target DPS for the current year has been increased by 1.9% to 5.4p/share.

20/05/2020 6 EN

Underlying

Civitas Social Housing Plc

Civitas Social Housing is a real estate investment trust investing into existing portfolios of built social homes in England and Wales. Investment Manager: Langham Hall UK Services LLP Investment Adviser: Civitas Housing Advisors Limited

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GB00BD8HBD32 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Martyn King

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Civitas Social Housing - No COVID-19 impact and increased DPS target

Form 8.3 - The Vanguard Group, Inc.: Civitas Social Housing plc

Form 8.3 - The Vanguard Group, Inc.: Civitas Social Housing plc

Form 8.3 -Civitas Social Housing plc

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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