Civitas Social Housing PLC Update research from QuotedData
February 14 2023 - 3:44AM
RNS Non-Regulatory
TIDMCSH
Civitas Social Housing PLC
14 February 2023
Civitas Social Housing - Update research from QuotedData
14(th) February 2023
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%.
This seems wholly unjustified given the strong market fundamentals
in the social housing sector and the group's proven, secure
government-backed income.
CSH's inflation-linked leases (which benefit from annual rental
uplifts in line with inflation as measured by the consumer price
index (CPI) or CPI+1%) more than compensated for a higher discount
rate used to value its portfolio on a discounted cash flow method
(following market volatility caused by higher interest rates) and
resulted in CSH reporting a healthy uplift in net asset value (NAV)
in September 2022 - one of the only real estate investment trusts
(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 inflation protection, improving strength of its tenants, and
strong market fundamentals make the group's discount to NAV and
high dividend yield extremely attractive.
Full Research:
https://quoteddata.com/research/civitas-social-housing-time-buy-qd/
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