Residential Secure Income (RESI)

Sector:

Property Investment Trusts

Index:

FTSE Small Cap

 91.40p
   
  • Change Today:
      0.000p
  • 52 Week High: 98.00p
  • 52 Week Low: 86.00p
  • Currency: UK Pounds
  • Shares Issued: 171.02m
  • Volume: 89,437
  • Market Cap: £156.31m
  • RiskGrade: 58
  • Beta: 0.00

Residential Secure Income forms partnership with Morgan Sindall

By Josh White

Date: Tuesday 22 Jan 2019

LONDON (ShareCast) - (Sharecast News) - Social housing asset investor Residential Secure Income (ReSI) announced on Tuesday that its fund manager, ReSI Capital Management (RCM), has entered into a new housing investment partnership agreement with Morgan Sindall Investments.
The London-listed firm said the agreement aimed to increase the supply of shared ownership homes, enabling more first-time buyers in the UK to establish themselves on the housing ladder.

It said the housing investment partnership created an exclusive arrangement between RCM and MSI to provide access to a pipeline of institutional-quality residential investment opportunities for its long-term capital, by utilising the expertise in social infrastructure and housing development of MSI and its other partners.

The partnership would initially target the delivery of 1,500 shared ownership homes, with a value of up to £300m.

ReSI noted that it made its first investment in shared ownership residential in October last year, when it acquired a £16.5m portfolio of 34 homes from Crest Nicholson, having become the first publicly-listed investment fund, through its subsidiary ReSI Housing, to become a registered provider with the Regulator of Social Housing in July.

Having fully invested the proceeds of its IPO, ReSI said it intended to invest through the housing investment partnership using proceeds from investment-grade debt secured against its wider £240m residential portfolio of around 2,500 mixed tenure homes.

"[The housing investment partnership] highlights MSI's strong investment credentials and our ability to deploy large volumes of institutional capital into the residential market across our regeneration pipeline," said Morgan Sindall Investments managing director Lisa Scenna.

"Our partners will benefit from this initiative as HIP will significantly lower the barriers to homeownership and will benefit people who live in the communities where we work."

Jonathan Slater, chief executive of ReSI Capital Management, added that the new partnership with Morgan Sindall Investments was a further extension of its strategy to facilitate the supply of new homes in the UK, and enable more first time buyers to get a foot on the housing ladder through shared ownership, while at the same time delivering a secure, long term income stream to shareholders.

"This new agreement ensures a strong pipeline of units for ReSI to continue its investment programme in shared ownership through ReSI's registered provider of social housing, ReSI Housing, and further emphasises our ability to work with leading housing partners."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

RESI Market Data

Currency UK Pounds
Share Price 91.40p
Change Today 0.000p
% Change 0.00 %
52 Week High 98.00p
52 Week Low 86.00p
Volume 89,437
Shares Issued 171.02m
Market Cap £156.31m
Beta 0.00
RiskGrade 58

RESI Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
30.72% above the market average30.72% above the market average30.72% above the market average30.72% above the market average30.72% above the market average
16.67% above the sector average16.67% above the sector average16.67% above the sector average16.67% above the sector average16.67% above the sector average
Price Trend
1.75% above the market average1.75% above the market average1.75% above the market average1.75% above the market average1.75% above the market average
13.51% below the sector average13.51% below the sector average13.51% below the sector average13.51% below the sector average13.51% below the sector average
Income
70.81% above the market average70.81% above the market average70.81% above the market average70.81% above the market average70.81% above the market average
58.82% above the sector average58.82% above the sector average58.82% above the sector average58.82% above the sector average58.82% above the sector average
Growth Not Available

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

RESI Dividends

  Latest Previous
  3rd Interim 2nd Interim
Ex-Div 08-Aug-19 09-May-19
Paid 06-Sep-19 07-Jun-19
Amount 1.25p 1.25p

Trades for 11-Oct-2019

Time Volume / Share Price
16:35 9,946 @ 91.40p
16:29 19 @ 91.40p
14:29 925 @ 92.07p
12:55 32,412 @ 92.07p
12:38 1,758 @ 91.79p

RESI Key Personnel

CFO Richard Stubbs

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