Social Housing REIT swings to profit though asset value falls

Social Housing REIT PLC on Thursday reported a swing to profit in 2025, despite its net asset value slipping below the prior year’s level.

The London-based real estate investment firm targets subsidised housing in the UK.

Its NAV per share and net tangible assets per share both amounted t 94.23 pence at the end of December, down 4.9% from 99.05p on-year.

‘The decrease was principally a result of a reduction in the value of the investment properties,’ Social Housing REIT said. It posted an investment property value of £602.8 million as of December 31, down from £624.7 million on-year.

The company noted that its first year under the management of Atrato Partners Ltd had ‘delivered improved earnings and strengthened operational oversight.’

Social Housing REIT swung to pretax profit of £3.0 million in 2025 from a £36.4 million loss in 2024, as total income ticked up to £40.0 million from £35.8 million.

The company’s shares rose 1.7% to 71.10 pence around noon on Thursday in London, and are up 15% over the past year.

It declared four quarterly dividends in 2025 totalling 5.622p per share, up 3.0% from 5.46p in 2024. When Social Housing REIT announced in May that it was upping its shareholder payout, it attributed the hike to inflation-linked rent increases.

Outgoing Chair Chris Phillips commented: ‘With a strengthened platform, an inflation-aligned income profile, and a clear ambition to build scale responsibly within the listed market, I believe that SOHO is well-positioned to deliver secure and growing dividends for shareholders for the long term.’

Phillips added: ‘As I conclude my tenure as chair, I would like to thank shareholders, advisers and my fellow directors for their support. I am confident that Jos Short, as chair-elect, supported by Fionnuala Hogan as audit chair, will guide the company admirably through its next phase.’

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