QuotedData Retail - Civitas Social Housing Plc (CSH) Civitas Social Housing – Time to buy?

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QuotedData Retail

James Carthew ...

Richard Williams

Civitas Social Housing – Time to buy?

Civitas Social Housing (CSH) has suffered a sustained fall in its share price which sees it now trade on a discount of 44.4%. CSH’s inflation-linked leases (which benefit from annual rental uplifts in line with CPI or CPI+1%) more than compensated for a higher discount rate used to value its portfolio (following market volatility caused by higher interest rates) and resulted in CSH reporting an uplift in NAV in September 2022 – one of the only REITs to do so in the period. Its NAV fell by 3.4% in the quarter to December 2022, which compares favourably with the REIT sector.

The adviser says that the financial strength of its housing association tenants is improving and the social housing market fundamentals remain strong.

14/02/2023 1 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

QuotedData Retail

QuotedData you with provides access to research on Investment Companies, Investment Trusts and Mining companies. Our aim is to provide you all the information you might need to make your own investment decisions. We cannot offer you advice on your investments.

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Analysts

James Carthew

Richard Williams

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Civitas Social Housing – Time to buy?

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

Bluefield Solar Income Fund – Fundamentals shine despite discount

HydrogenOne Capital Growth – Momentum building despite discount

abrdn Private Equity Opportunities – On the way to greener pastures?

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