Civitas Social Housing (CSH): Housing security

Hardman & Co Research Hardman & Co Research: Civitas Social Housing (CSH): Housing security 24-Aug-2018 / 12:55 GMT/BST Hardman & Co: Housing security We initiate coverage on Civitas Social Housing. Floated in November 2016, with a 5% dividend target, this was the first LSE-listed REIT dedicated to investing in regulated social housing, principally care-based supported living (100% here, to date). Civitas has provided an update to end-June: IFRS NAV (Ordinary) was 105.8p, with a £31.1m rent roll. 2016 IPO proceeds are fully invested. To date, Civitas has invested £550m in specially configured supported social housing for adults. Current equity resources enable at least £1bn investment. Civitas has identified a pipeline (off-market transactions), part of which, £100m, is described as available in the near term. Please click here for the full report: http://hardmanandco.com/docs/default-source/company-docs/civitas-social-housing-plc-documents/24.08.18-housing-security.pdf To contact us: Hardman & Co 35 New Broad Street London EC2M 1NH www.hardmanandco.com Follow us on Twitter @HardmanandCo Contacts: Mike Foster [phone] [e-mail]     Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement. About Hardman & Co: For the past 21 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the world with high-quality research, investor engagement programmes and advisory services. Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies. It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer. Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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