Civitas Social Housing -- any lessons?
I am feeling quite bruised by the takeover of Civitas Social Housing. Are there any lessons for investors? For example, if we feel that the directors were scaredy cats and that they should have encouraged more bidders to push the price up, are any of the directors also a director of any other investment trusts, of which we might now be wary?
There is a crying need for more social housing, and the receipt of Government housing benefit should be a good covenant. Despite that should we avoid social housing?
I had several holdings of Civitas and sold some in the market fractionally below 80p and one via HL where I accepted the offer. I am still waiting for the cash proceeds in the latter case and HL do not know when it will be received. Is that another lesson?