Not that Soho but a REIT

Is SOHO a no go?
Is this Social ‘Housing landlord, all REIT or a REIT off ?
The Oak Bloke

One of my readers asked me to look at SOHO and I’m slowly working through my backlog. So what about this, the third of Triple’s UK offerings? Is this getting sold down too?

Surprisingly no.

In fact the first thing to say is SOHO is a 97 super stock on stocko, it trades at 65.7p, delivers an 8.6% yield (0.85X covered) and NAV is 114.15p a share as at 31/3/24. So a 41.3% discount to NAV. Although HL imagines its NAV is 129.47p a share (incorrectly).

SOHO have 493 properties (with 3,421 units) costing £594.9m in invested funds, and valued at £678.4m today – 14% higher. That’s £1.37m average per property and £198.3k per unit average.

The complete article at

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