£431m market cap
107p last close
Triple Point Social Housing REIT (SOHO) invests in primarily newly built and newly renovated social housing assets in the UK, with a particular focus on supported housing. SOHO aims to provide a stable, long-term inflation-linked income with the potential for capital growth.
Investment summary
Triple Point Social Housing REIT (SOHO) has grown its portfolio strongly since IPO, bringing a much-needed new supply of supported housing to market and building its base of secure income. We expect acquisitions, rent indexation and the completion of forward-funded developments to drive further strong earnings growth in FY20 and FY21 and, with rent collection unaffected by the COVID-19 pandemic, further growth in DPS.
Y/E Dec |
Revenue (£m) |
EBITDA (£m) |
PBT (£m) |
EPS (p) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2018A | 11.5 | 7.0 | 5.4 | 2.27 | 47.1 | 47080.0 |
| 2019A | 21.1 | 15.1 | 11.9 | 3.39 | 31.6 | 23047.7 |
| 2020E | 28.0 | 21.7 | 16.1 | 4.45 | 24.0 | 15385.0 |
| 2021E | 35.8 | 29.0 | 22.8 | 5.67 | 18.9 | 14084.8 |
Sector |
|---|
| Financials & real estate |
Share price graph
Balance sheet |
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|---|---|
| Forecast net debt (£m) | 0.2 |
| Forecast gearing ratio (%) | 35 |
Price performance
% |
1m |
3m |
12m |
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Key management |
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|---|---|
| Isobel Gunn-Brown | CFO |
| Ben Beaton | Managing partner |
| James Cranmer | Managing partner |
