Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
To provide shareholders with stable, long term, inflation-linked income from a portfolio of Social Housing assets in the UK with a particular focus on Supported Housing assets.
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Not just excellent dividends here but a once in a long time chance to make a large capital gain as well . You could double your money here on a 3 year view.You cant often say that about a REIT! imho.
2023 results will hopefully be better as no one off payment of £2.6m to cancel the credit facility and hopefully no large rent arrears with My Space booted out - also how much of the £2.037m 2022 rent arrears hit can they claw back in 2023.
After doing my research I've also bought some for the long haul.
This included watching the 2022 final results presentation, where Max Shenkman said they were moving properties away from My Space and trying to get the rent arrears. He said that Parasol has a new board who were better to work with - fingers crossed. He also mentioned possibility of share buybacks or selling some property to narrow the gap between the share price and NAV. Hopefully something announced with the May dividend update or raised at the AGM on 23 May.GLA
Took a punt on this today think this is well under valued time will tell as with all investments am looking at a 3-5 year hold plus this pays an excellent dividend at the moment
Candid,look below your last post on that board!
Yes Im in that as well!
Hey wishi , you also said the same thing on regional REIT chat forum .. let's hope you are right on both of them as I am also invested in them both
By the way , have you checked out CSH ..also an REIT with 50% discounted share price against NAV , might also be worth a punt.. good luck all
I am cautiously optimistic that the worst may be behind us now re. the share price.Over the next six to twelve months I expect a slow,although probably erratic, return to more sensible levels ie 70-80p range.imho.
Technically it is a part of the management fee, so incentivising staff by providing them with shares does provide some benefit (potentially). The buyback benefits us as that would have gone to the directors otherwise. There are two sides to look at this.
With the SP performance, they certainly do not deserve a 387k bonus (895,426 Ordinary Shares * average price of 43.24 pence per Ordinary Share); Very shocking actions today, which only lines the director's pockets at the expense of shareholders.
I agree, but it's moved the share price up!
So using shareholder funds to acquire shares for the benefit of directors without them actually risking their own capital. Disgraceful.
I'm not sure about being 'played' - looks like BlackRock is reducing again.
The share price its being played, buy under 50p sell at circa 54-55. Nothing fundamental has come out not already known about. I suspect a share buy back is imminent and someone is trying to accumulate from the impatient/nervous before it happens.
The problem here is the management have none of their own money invested and so likely to squander PI’s money, no skin lost to them.
Avoid.
Question is - how low will it go? That's always a dangerous one to answer. The concern is the pattern starting to emerge in the rent collection, which was consistently 100% up until 2021, then dropped by a miniscule amount in 2021 and plunged to 91.8% in 2022. The golden question is what it will fall to in 2023? SOHO's largest tenant amounts for a whopping 30% of the rent and has been deemed to be 'non-compliant' by the regulator, who thinks they're unsustainable and vulnerable to financial problems. Like always there's lots of paranoia.
Ya morning, ya new low. This isn't about numbers anymore, just about paranoia. I can't help thinking here's serious $$ to be made here calling the bottom.
Winnings = Whinings
@Winnings. You are not invested here, after you sold last month.
Why keep on with your whining and not move along?
Results out today look good, but a growing chunk of the rents unpaid is somewhat worrying.
Then we have the valuation of the properties, how reliable is that? After all, the valuer gets paid by SOHO, how independent is that? Easy to take an optimistic ‘glass full’ view.
Just now read today’s RNS at HOME REIT, sounds awful, only 23% of rents collected, much of the properties in need of expensive repair, worrying to say the least. Could SOHO come to suffer some of those risks?
The fact that Parasol has had a regulatory notice since Dec 21 should have raised mgmt diligence. That there seemed no urgency to unwind I find worrying . If extrapolated across the group, this lack of mgmt diligence, how many "aren't" in trouble/paying rent fully but are also subject to statutory notices, warnings or judgements?
Fundamentally, the business model of SOHO and the whole supported housing REIT is valid, and will only grow in relevance, as it the continuance of premium rental allowances to support vulnerable people (it is still cheaper than alternatives - The Salvation Army, one of the biggest providers of supported homeless housing for instance, charges eye watering rents well in excess of these reits). The concerns for me are not the funding sources, but the providers - and SOHI and it's ilks complacency (laziness) on such.
Personally like what they said. My Housing properties would drop 38% of the Sept Value if they went into administration, if you extrapolate that across the whole portfolio, so throw the kitchen sink at it, the current share price would still be trading at a discount.....added more.
Probably have rent guarantee insurance
Lessee My Space Housing (7.9% of rent roll) cannot pay the rent. Now joined by lessee Parasol Homes Ltd (9.65 of rent roll) unable to pay the rent. Combined 17.5% of the rent roll in difficulties. Will more follow? Picture does not look good to me.
Sitting tentants cannot be moved out, what is the value of properties where rents cannot be paid/collected.