Triple Point Social Housing REIT (SOHO) has set out intentions to make further portfolio sales this year in order to resume its share buyback programme.
The plans follow the sale of specialised supported housing properties in August 2023 for around £7.6m – in line with book value and a 9.6% uplift to purchase price. The sales would be used to return capital to shareholders via further share buybacks, with consideration also given to leverage levels and any debt repayment obligations, the REIT said in a stock exchange notice today (3 May). In November 2023, SOHO paused share buybacks due to its cash position, noting they would be dependent on additional liquidity generated via asset sales. The REIT has also secured the transfer of a...
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