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Every major listed fraud ever exposed had institutional investors on the shareholder register. You see, it's because long only investors don't invest in the expertise to identify frauds. It's not their business model. They just diversify away the risk.
Are we not going to talk about the fact CSH is audited as well? Because, guess what: every major listed fraud is audited! Like long only investors, auditors as well are not there to identify fraud. Approximately 2% of exposed frauds are brought to light by the auditors.
You bagholders are ALWAYS the same. Not only do you play the person rather than the ball, but you also play the wrong person.
looks like most of the shorters have moved on now too - like I said recently I think Lucy's views are based on old news
Indeed! Not difficult to see why L&G snapped up 18 million shares recently
Ov er 2-3y, I am receiving a 9% annual dividend, with a HUGE margin of safety in the NAV discount and the potential for a 50% capital gain. NICE!
Cane Toad, you just have to look at her posting history to realise that she just has a personal grievance with the company. Pretty sad really.
@LucyDS: Why I think you're wrong here:
1) There's been a new 'Independent IFRS property valuation increased by 5.6% to £999.5 million'
2) Banks have lent against the property value
3) Fitch Ratings of "A" secured and "A-" unsecured
So do I believe some random person on a chat board, who's probably got a short spreadbet on Civitas, or the above?
Good luck!
I agree punt - the div makes me smile, if I'm wrong I'm wrong, you can't win em all - but until then I'll keep enjoying the div
Don't tell me Lucy - you know more than Legal and General's investment gurus? Hahhaha
Looking forward to the next divi payment on 9/12/22 and reinvesting the proceeds into CSH. Not too many other shares around at such a discount to NAV paying 9.3% dividends. NO wonder Legal and General recently snapped up 18 million CSH shares. Take the hint peeps.
Every step can be seen in publicly available records, on Companies House and the Land Registry. What I'm describing is literally a matter of public record.
Excellent results, an amazing discount to NAV and extremely attractive dividend while we wait for re-rating.
Meanwhile, in the real world, CSH smashes it out of the ball park once again. Excellent set of results. NAV now 114p and the divi is over 9%. The RNS makes it clear that both the Government and the opposition are fully behind social housing so the future is looking bright
Wow - Lucy you make it sound like Bernie Madoff is in charge.
1. Buy a property for £X.
2. Sell it to csh for £3X.
3. Give some of the profit to csh customer to fund rent payments.
4. Pocket the difference.
5. Rinse & repeat.
That's the scheme.
Riskingit,
I agree. Global issues are causing uncertainty here but our rent payments shouldn't Brierly affected due to the clientele we cater for.
Keep adding at these levels matey. Even at 80p I believe you will make money on.
Good luck.
I think Lucy's old news is priced in now and we are bumbling along the bottom until inflation sorts itself out - This isn't the only REIT that's been clobbered
If you got in around these levels good luck to you - I keep adding modestly to lower my average but with a starting point north of a quid if I can get sub 80, as a long income seeker I'll sleep relatively easy
Hi, Cane,
I've got £4.5k invested here, which is at an average of 66p.
I like my quarterly dividend as much as the next person but I imagine most peeps invested here are down on their overall investment.
I agree, the almost 10% dividend softens the blow, and I receive around £70 per quarter for my stake (which isn't eye watering) but if the SP drops, then that makes any dividend benefit vastly minimal.
I'm really not sure what's going on with REITS but the company appears massively undervalued, unless their is something worryingly afoot.
Anyway - I still have faith, and will keep adding at these current lows.
All the best.
GRQ.
@LucyDS - you're funny and very predictable... in the meanwhile I pickup close to 10% yield for doing absolutely nothing. Send it down lower if you want, so I can pickup more!
The problems highlighted at Home echo the problems at CSH. It's the same pattern of NAV inflation through assets flips and related party deals. If anything CSH is much sketchier. This episode puts a spot-light on these dodgy practices.
Presume today's drop is because of home reit
Thanks for the link scratch - Risks remain but with such a discount and a yield that at least keeps inflation at bay it reiterates my conviction and I will keep accumulating.
This looks like an attractive place to park some funds and receive a solid dividend and the possibility of capital appreciation. It's not 'blemish-free', but how many shares offer a 8% yield and the possibility of good capital appreciation.
I am concerned the potential for problems due to the interest rate rises, so will keep my exposure modest. I'd like to understand more about the interest rate sensitivity of the loans that they hold. i.e. how much the yield would drop with each 1% rise in rates?
I'm inclined to agree - Time to accumalate and bring my average down further.
I can't imagine another share with such a positive RNS and the SP barely blinks - One day sense will prevail
Good solid trading update today. Not hard to see why L&G have just bought 18 million shares. 9% dividend and the latest NAV at 114p. This is trading at a massive discount and at some point that gap will close.