Edison Investment Research - Triple Point Social Housing REIT PLC (SOHO) Triple Point Social Housing REIT - Positive Q121 return and increased DPS target

Report

Edison Investment Research

Martyn King

Triple Point Social Housing REIT - Positive Q121 return and increased DPS target

A quarterly NAV and dividend update from Triple Point Social Housing REIT (SOHO) shows the portfolio remaining resilient, continuing to increase in value with consistent rent collection. The FY21 DPS target is increased 0.4%, in line with CPI, and we forecast full cover by adjusted cash earnings.

18/05/2021 3 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.

See profile

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.

See profile

Analysts

Martyn King

Other Reports on these Companies

Edison Investment Research

Triple Point Social Housing REIT - Fully covered DPS

Q324 DPS was fully covered by adjusted earnings and despite a delay in resolving rent collection with My Space, one of the two recent problem tenants, we expect this to remain the case. My Space has ceased its partial rent payments since June but rent collection on the assets re-tenanted from Parasol to Westmoreland is expected to increase. With a My Space resolution taking longer, our forecasts for FY24 are reduced but are sufficient to cover DPS., while the shares continue to yield more than 9%.

December 4, 2024 December 4, 2024 1 EN

Edison Investment Research

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

Triple Point Social Housing REIT (SOHO) returned to full dividend cover in H124, with EPRA earnings benefiting from inflation-linked, mostly uncapped rental growth and improving rent collection. Property valuations and NAV per share were lower, but progress with the two problem tenants and falling interest rates suggest this could reverse. Meanwhile, the shares yield more than 8% with the board targeting asset sales and share repurchases to address the discount to NAV.

September 17, 2024 September 17, 2024 1 EN

EQS Group AG

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

Edison Investment Research Limited Edison issues update on Triple Point Social Housing REIT (SOHO): Strong rent growth and improving rent collection 21-May-2024 / 11:07 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 21 Mai 2024 Edison issues update on Triple Point Social Housing REIT (SOHO): Strong rent growth and improving rent collection Triple Point Social Housing REIT’s (SOHO’s) Q124 update confirms a continuing improvement in rent collection. The newly set FY24 DPS target is unchanged compared to FY23 at 5.46p as the board ...

May 21, 2024 May 21, 2024 1 EN

Topps Tiles - Accelerating growth through Q125

Topps Tiles (TPT) is enjoying a return to revenue growth following a very challenging FY24 due to wider macroeconomic weakness. The company’s recovery is clearly being boosted by new revenue streams from its self-help initiatives, notably from trade and online customers across all of its brands. While the macroeconomic environment remains uncertain, it is pleasing that the strategy is supporting growth. The valuation continues to look compelling, even with limited macroeconomic recovery included in management’s long-term financial goals. With the Q125 trading update, the CEO has announced his ...

January 10, 2025 January 10, 2025 1 EN

Pedro Fonseca

Pedro Fonseca

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

Baillie Gifford US Growth Trust (USA) invests in exceptional US businesses with the potential to grow substantially faster than the market and deliver above-market returns. Such businesses tend to operate at the cutting edge of technology-led change and USA has exposure to companies focused on AI, space travel and online services. This note reiterates USA’s unique investment proposition and scrutinises a recent proposal from Saba, a US hedge fund manager, aimed at ousting USA’s board and replacing its investment managers. Saba currently owns less than 28% of USA shares in issue. The trust’s bo...

January 10, 2025 January 10, 2025 1 EN

Kate Heseltine

Kate Heseltine

Greggs - More challenging environment in H224

Greggs has reported that FY24 profit is in line with management’s expectation despite the more challenging environment and slowing sales growth through H224. The more challenging market means that management is more cautious about the outlook for H125 than previously. With space expansion and recovery of cost inflation, it expects to deliver profit growth in FY25 albeit lower than previously anticipated. We have reduced our FY25 profit before tax estimate by c 2%.

January 9, 2025 January 9, 2025 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Triple Point Social Housing REIT - Positive Q121 return and increased DPS target

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

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe