Edison Investment Research - Triple Point Social Housing REIT PLC (SOHO) Triple Point Social Housing REIT - DPS commitment maintained despite challenges

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Edison Investment Research

Martyn King

Triple Point Social Housing REIT - DPS commitment maintained despite challenges

In its trading update, Triple Point Social Housing REIT (SOHO) sets out the path to restoring rent collection from two lessees in arrears. It also underlines the quality of its portfolio, the continuing performance of most lessees and their progress with addressing regulatory concerns. Until resolved, the arrears will have an impact on earnings and valuation, but SOHO remains committed to its FY22 DPS target of 5.46p. We will revise our forecasts when the FY22 results are published in March.

14/02/2023 1 EN

Underlying

Triple Point Social Housing REIT PLC

Triple Point Social Housing REIT plc is a United Kingdom-based closed-ended investment company. The Company acquires and holds investment properties either directly or through special purpose vehicles (SPVs). It is focused on a portfolio of Social Housing assets in the United Kingdom with a particular focus on Supported Housing assets. Its properties include Fountain Court, Claridge Court, Cornmill House, Pioneer House, and Brunswick House. Cornmill House is a housing facility comprising 16 one bedroom flats. Pioneer House is a housing facility comprising 14 one bedroom flats and one bedroom semi-detached bungalow. Brunswick House is a housing facility comprising 16 one bedroom flats. Fountain Court is a housing facility comprising 16 one bedroom flats. Claridge Court is a housing facility comprising 16 one bedroom flats. Its portfolio also include residential mental health and substance abuse facility operators.

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GB00BF0P7H59 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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Triple Point Social Housing REIT - DPS commitment maintained despite challenges

Triple Point Social Housing REIT - Fully covered DPS

Triple Point Social Housing REIT - Improving rent collection and fully covered DPS

Edison issues update on Triple Point Social Housing REIT (SOHO): Strong rent growth and improving rent collection

Topps Tiles - Accelerating growth through Q125

Baillie Gifford US Growth Trust - A unique high-growth strategy meriting support

Greggs - More challenging environment in H224

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