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Lending out their shares to shorters to lower the shareprice and eventually increase their stake imo.. 15% of the shares being dumped by shorts is going to lead to catastrophic drop from here
Wouldnt touch this with someone elses money , let alone my own. Something stinks.
I disagree with your comments and think that this is a great RNS! You forget to realise that audited accounts take time and this has all been brought on by some idiotic shorters! The company and BoD are still confident that it is all Rubbish and the audited accounts will show this! GLA
I recall someone turning up in the Civitas board when they were being shorted, talking doom and gloom. I presume from your comments that you would never be invested in HOME, so why the need to post ? Do you have a price you want to talk it down to ? For what reason ? What are you invested in ? All I can see is negative comments.
Merry Christmas x
Whilst parts of the RNS look like good news re dividend etc the last sentence or so states that the shares will be suspended if the audited results are not produced by 31 December and that it expects this deadline to be missed with the audit expected to be completed by 31 January. Thus the BOD expects the shares to be suspended at the end of December. Hopefully the suspension will only be for a month and that the audit doesn't reveal any significant issues or basis for the shorters' comments. I still think that this share should be avoided as there's simply too much uncertainty surrounding it and it'll take a long time to restore confidence.
GLA
Correction - this review came from reviewsolicitors.co.uk
Anyone thinking of trying to cash in via Harcus Parker needs to search for reviews of the company. Here's the one review from their own website. Many others online. Someone else chancing their arm to make a few pounds from the company most of us are invested in. I have tripled my investment now, adding again today. What we need from Home Reit is the next dividend announcement to show everything is going as planned.
Review -
Harcus Parker Limited
I signed up to Harcus Parker as part of the Group Action regarding VW Emmissions. There standard of customer service is appalling bad. I have made contact with them by email with a fairly straightforward question regarding statute of limitation and being time barred from making a claim. I got an initial response which looked generic and certainly didn't answer my question. My more recent communicationshave been ignored. Avoid at all cost and find someone else to process your potential claim.
Thanks - per page 19, 5.5 pence dividend and the 7.5% is total return, so NAV/ revaluations, reduced borrowing etc. makes up the difference.
Target returns Minimum of 5.5%+ pa target dividend once fully invested / total net return of 7.5%+ pa
https://www.homereituk.com/wp-content/uploads/2022/09/home-reit-presentation-updated-september-22.pdf
"at least a 4.5p dividend paid aiming for 7p per year."
Can I check this #? I am pretty sure the target was 5.5p per year rather than 7p. With all the bad news doing the rounds I'd rather not have missing divi targets added to the mix :)
https://homereitclaim.co.uk/ here is a link.
The Half year Results look very strong to be fair! Assests at £700m - Current market cap £367m and at least a 4.5p dividend paid aiming for 7p per year.
Home REIT plc and its subsidiaries acquired 874
investment properties within the period, increasing
the Group’s portfolio to 1,585 properties in total. The
portfolio was independently valued on 28 February 2022
at £713.4 million. The properties have been valued on an
individual basis. No portfolio premium has been applied.
• The net asset value (“NAV”) and EPRA nettangible
asset (“NTA”) per ordinary share (“Share”) increased
to 111.2 pence as at 28 February 2022, an increase
of 5.8 per centfrom the 105.0 pence at 31 August
2021,reflecting the discount achieved on off market
acquisitions, new equity raised at a premium to NAV,
and capitalisation ofthe rental uplifts within the
Group’s inflation linked leases.
• In October 2020,the Company raised gross proceeds
of £240 million in its initial public offering (“IPO”) and
a further £350 million in an oversubscribed follow-on
equity issue in September 2021. The Company is listed
on the Official List ofthe Financial Conduct Authority
and was admitted to trading on the premium segment
ofthe main market ofthe London Stock Exchange on
12 October 2020.
• During the period,the Company paid dividends
totalling 2.21 pence per Share, in line with its target
dividend. Taken together with the increase in NAV/NTA
referenced above,the Company has delivered a NAV
totalreturn of 7.9 per cent since 31 August 2021.
• Profit before tax forthe period was £38.3 million.
• In addition to the Group’s long term 12-year debt
facility of £120 million, a further 15-year debtfacility
of £130 million was secured with Scottish Widows at an
all-in fixed rate of 2.53 per cent per annum forthe term.
This provides a wide spread (357 basis points) between
the current average netinitial property purchase yield
of 5.87 per cent and the 2.30 per cent per annum fixed
average rate ofthe debt.
Some valid points! The BoD seem very confident in the valuations, so fingers crossed the results show this!
Home is facing a number of downside risks re shorters, legal claims, delays to release of audited results, potential issues with funders withholding funds etc. Also property values are likely to fall as interest rates rise and may in any event fall due to tenants not taking good care of them. With all the potential companies to invest in I'd avoid Home like the plague.
GLA if you're invested here. If not I'd leave it well alone- at least until the audited results are released, which could be some time yet as I imagine BDO are looking very closely at property values, potential missing liabilities and issues re going concern.
They have rubbished all of these claims for the results will be very interesting!
https://www.investorschronicle.co.uk/news/2022/12/07/law-firm-mounts-challenge-against-home-reit/
Tinkering on the edge myself, lot jumping on the bandwagon but I’m hoping the results will show us one way or the other… how long does it take to ‘go over’ a set of results?
Do you have the link?
Litigation now planned. Harkus Parker, London offering no win no fee and 30% if successful.
To be honest I am still in as I personally think this will do well in the coming months and should bounce back! There has been a lot of considerable purchases over the past few weeks and I have a moto to always follow the money! Hopefully it will go up! GLA
Any one still clinging on in here?
I sold 70% partly at 60, partly at 51. The low P/E comes from re-evaluation of the properties. If their spread bewteen revenue and cost is 3%, then we are looking at 51/3.33 = a P/E of 15 which is rather expensive already. Let alone 110Gbp. If one looks only at the numbers but not at what is behind, then you invest like me in this stock based on incorrect P/E ratios
Oasis has lowered the short position with 0.15% , reporting november 23, thus on the day of the big drop?
Ok I must be a gambler as I didn’t know this stock until this morning and just felt it might all blow over and a 50% discount to NAV is a massive negative revaluation before book value is breached compared to current SP…. A week from now could be a quick gain