Key Highlights

  • Living REIT plc (LSE:LIVE), formerly Social Housing REIT and Triple Point Social Housing REIT, is listed on the London Stock Exchange Main Market with a Dividend Yield of 7.95%.
  • The quarterly dividend for April to June 2026 was 1.4475p per share, up from 1.4055p.
  • That implies an annualised rate of about 5.79p per share.
  • The company changed its ticker from SOHO to LIVE in 2026.
  • Total dividends in 2025 were about 5.58p per share.
  • A new Investment manager was appointed in late 2024 as part of a strategic reset.

Overview of Living REIT

Living REIT plc (LSE:LIVE) invests in UK supported housing, providing homes for people with care and support needs. Its properties are leased on long-term, inflation-linked leases to approved providers, typically housing associations, which receive housing benefit for tenants. The REIT was originally launched as Triple Point Social Housing REIT, later renamed Social Housing REIT, and adopted the Living REIT name and LIVE ticker in 2026.

The 7.95% yield reflects investor caution towards the supported housing sector after regulatory concerns about some lessees.

Dividend Record

Living REIT pays quarterly property income distributions. Quarterly payments of 1.4055p were made through 2025 and early 2026. The board then increased the quarterly dividend to 1.4475p, paid on 7 August 2026 for the quarter to 31 March 2026, and declared another 1.4475p for the period from 1 April 2026 to 30 June 2026, payable on or around 9 October 2026. In June 2026, the company said it was targeting an increased payout for the year.

Income and Dividend Cover

Income comes from rents paid by approved providers, which are linked to inflation. Rent collection and the financial health of lessees are critical. Earlier regulatory scrutiny of some lessees' governance and finances weighed on the sector, but rent collection has been maintained. Dividend cover depends on keeping properties let and collecting rent reliably.

Strategic Reset

The appointment of a new investment manager in December 2024 marked a fresh start. The rebrand to Living REIT signals a broader focus on the living sector, potentially including other forms of residential and care-related accommodation. A refreshed strategy could open growth opportunities beyond supported housing.

Balance Sheet and Valuation

Living REIT uses long-term, fixed-rate debt, providing protection against Interest Rate rises. The shares trade at a discount to NAV. With Market Capitalisation around £300m to £350m, the company is a mid-sized REIT.

Sector Demand Drivers

Demand for supported housing is driven by long-term needs among adults with learning disabilities, autism and mental health conditions, many of whom would otherwise live in more expensive institutional settings. Local authorities increasingly favour community-based supported living, which supports demand for Living REIT's properties. This structural need underpins occupancy and rental income over the long term, even when wider property markets are weak.

Governance Improvements

After earlier sector concerns about lessee governance, the company has worked with approved providers and regulators to strengthen oversight. The new manager's appointment and rebrand form part of efforts to rebuild investor confidence and position the REIT for growth.

Risks

Key risks include the financial health of housing association lessees, regulatory changes affecting supported housing, valuation pressure from higher interest rates and execution of the new strategy. Social and political attention to the sector also adds headline risk.

Market Sentiment

Commentary has been more positive after the dividend increase and rebrand. The share price traded between about 65p and 81p over the past year, recently around 75p to 77p.

How LIVE Fits an Income Portfolio

Living REIT offers inflation-linked income backed by government-funded housing benefit, which provides some defensiveness. It can diversify a property income portfolio away from retail and offices.

Social Impact

The company's Assets provide homes for vulnerable people, giving the investment a strong social purpose that appeals to investors focused on environmental, social and governance factors.

Dividend Sustainability Scorecard

  • Dividend: quarterly 1.4475p, up from 1.4055p.
  • Leases: long-term, inflation-linked, with approved providers.
  • Strategy: new manager and broader living sector focus.
  • Debt: long-term fixed-rate facilities.
  • Key risk: lessee financial health and regulation.

What Investors Should Watch

Investors should watch rent collection updates, lessee financial reports, NAV announcements, the next dividend declaration and details of the new strategy.

Is the 7.95% Yield Sustainable?

Living REIT's dividend looks sustainable, supported by inflation-linked rents and a recent increase that signals board confidence. The main risks relate to lessee health. LSE:LIVE suits income investors seeking inflation-linked, socially focused property income.