Civitas Social Housing REIT plc CSH

This REIT invests in social housing throughout the UK. Civitas look to provide income and potential capital growth through investing in inflation-linked leases on property.

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Anyone have this in their portfolio ?

I do yes, bought at around 0.89p and have been waiting for the price to go up so I can get rid of them. Not too hopeful but annoyed that I cannot put them in my ISA and sold the Home REIT shares when I realised that their dividend attracted tax even at such a low amount that I had! Assuming it will be the same for Civtas.

I’ve held this in my ISA with another broker for about 3 years. I don’t really pay attention to the share price, just collect the dividends.

NAV rising a bit share price falling …a lot. 8.5% dividend 46% discount.

The historical short positions at the bottom of the page.

Not sure if they are still held. Looks to me (see the graph) that the short position now is 0.5% of shares?
They were shorted based how they worked out there NAV, at least i think that was what it was.

OPPS on the same page “There are currently no open short positions in Civitas Social Housing.”

Original short seller.

If you go through the news items you will find what the reason is for the short selling.

Just checked discounts. Interestingly it has traded at a premium in the past.
Inflation linked leases
Also 50% gearing/leverage.
Wouldn’t mind finding out what the interest rate they are borrowing at and what it is linked to.
Base rates or inflation? The former would be best.
Working at hedging the debt? Struggle with the point of that as leases are linked to CPI which is the same as hedging?
Legal and general are a large shareholder.

https://www.civitassocialhousing.com/investors/

I still hold this one, for diversity in my portfolio. It’s probably one of a few which I go ‘hmm’ at, over whether to continue holding or not. Think I bought when it was on a premium.

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Civitas just increased it’s steak on Legal and General according to a RSN released this morning

Of course the shares will fall on the exdivided day sooooo!

@weenie this comes from panic selling. Should have known there was a reason i could get 79.84p for the shares!
“In addition, Civitas Shareholders who are on the register as at the close
of business on 19 May 2023 will also be entitled to receive and retain
the quarterly dividend of 1.425 pence per Civitas Share in respect of the
period from 1 January 2023 to 31 March 2023, as announced by the
Civitas Board earlier today (the “Fourth Quarter Dividend”).”

May still have sold. But Should have done some more research first. As the first thought that came into my mind was “i cant remember receiving a dividend”

Just noticed @weenie you bought with another brocker 3 years ago so you might be able to vote.

Also noticed legal and general own shares, not sure they will be happy with 80p!

Management have excepted an offer at 80p. Estimated NAV 111p
Up 43% on the day. I assume you will be at a loss based on the above statement “think i bought on a premium”
It doesn’t follow that shareholders will vote for it. Although management excepting the offer doesn’t help. Upto you obviously wherever to vote yes or no.
I assume you cant vote as you bought via freetrade?
I voted yes via the sell button.

This is part of my dividend income portfolio so I guess it’s at a loss, not checked. I’ll have to see if AJBell send me the details to vote. I’ll just keep the few I have with Freetrade.

I dodged a bullet with this one after being tempted to invest a few years ago.

The moral of the story?: being a cynical so-and-so can be helpful sometimes.

Nowadays, I try to avoid anything that feels fashionable or esoteric as an investment.

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Of all my divi paying investments, this was one of my ‘hmm’ ones and only accounted for less than 3% of the portfolio. I don’t want to rush into anything so will just wait and see.

edit - oh, I see that I said that previously about it being ‘hmm’! :laughing:

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Yeah, I got a sense of Déjà vu when I read that…

I bought in February, I am up 30%, so I must have been at least 10% down as it went up 44% today.
If only every share gave that sort of return every 3 months.
The benefits of luck.

A possible replacement for Civitas is SOHO.
TRIPLE POINT SOCIAL HOUSING.

63% Discount
9.8% dividend
Gearing is 50% but…
“Debt £195 million 13 years interest only fixed at 2.634%”
Already invested the majority of my Civitas money, the remainder will go into SOHO.

RNS today LGEN buying SOHO (social housing same sector) on SOHO site. Time was 16.15pm price up 4.5%.
Probably up on takeover of Civitas.
Also noticed that there is rns on LGEN for the purcase today of soho that’s not normal AND the purcase of Civitas shares on the 5th may.
At least I think it’s purcase.
Either way LGEN doesn’t normal send rns for shares they’ve purchased.

You will have to go to Hargreaves Lansdowne or equivalent for the rns as I cannot post it. I get
“you cannot post a link to that host”
IE cannot post links to Hargreaves Lansdowne

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