Civitas Social Housing PLC Research from QuotedData
28 May 2022 - 1:18AM
RNS Non-Regulatory
TIDMCSH
Civitas Social Housing PLC
27 May 2022
Civitas Social Housing - Research from QuotedData
27(th) May 2022
Fundamentals remain strong
Civitas Social Housing's (CSH's) discount to net asset value
(NAV) has yet to recover from an activist short seller attack last
year, with its share price almost as low as it has ever been in
over five years since it launched. Although CSH's manager made a
strong rebuttal to the allegations made by the short seller,
regulatory concerns around the financial strength of some of its
housing association tenants has persisted throughout its existence.
To aid regulatory compliance, CSH plans to add a new clause to
leases that would enable greater risk-sharing with the housing
associations and allow them to temporarily stop paying rent in
certain circumstances.
The fundamentals that support growth in the sector remain strong
and aren't going away, namely increased demand from individuals and
a lack of supply. The high dividend yield/large discount to NAV
that CSH's shares are trading on seem appealing.
Full research:
https://quoteddata.com/research/civitas-social-housing-fundamentals-remain-strong-qd/
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May 27, 2022 11:18 ET (15:18 GMT)
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