Edison issues update on Triple Point Social Housing REIT (SOHO): Q323 DPS was fully covered

London, UK, 16 November 2023

Edison issues update on Triple Point Social Housing REIT (SOHO): Q323 DPS was fully covered

With indexed rental growth continuing and rent collection recovering, Triple Point Social Housing REIT’s (SOHO’s) Q323 dividend was fully covered, and we expect this to continue. Meanwhile, while the board continues its focus on closing the share price discount to NAV, it has concluded that any further capital return is dependent on significant additional liquidity being generated through property sales.

The FY23e yield is c 9%. We estimate that even a c 17% decline in FY24 income would support a fully covered DPS of at least c 4.5p, or a yield of c 7.7%, a c 50 basis point (0.5%) premium to the peer average.

 
Click here to view the full report.

All reports published by Edison are available to download free of charge from its website

www.edisongroup.com

About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached – across institutions, family offices, wealth managers and retail investors – Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings.

Having been the first company in-market 17 years ago, Edison has more than 100 employees and covers every economic sector. Headquartered in London, Edison also has offices in New York, Sydney and Wellington.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities.

For more information, please contact Edison: 

Martyn King +44 (0)20 3077 5700 financials@edisongroup.com

Learn more at www.edisongroup.com and connect with Edison on: 

LinkedIn www.linkedin.com/company/edison-group-/

Twitter  www.twitter.com/Edison_Inv_Res

YouTube www.youtube.com/edisonitv