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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