Towards the end of November last year I flagged up Residential Secure Income (RESI) in a post that you can see here if you missed it or can't remember it. It is basically a play on social housing and you get to buy in at a discount to NAV & it offers a decent yield of over 5% which looks reasonably well underpinned which is no bad thing is these days of dividend cuts and suspensions left right and centre.
Any way they put out a COVID-19 update today where they gave an update on the portfolio, financial position and dividend. All seems fine, so check that announcement out if this interests you.
I added to my holding in the 70's during the recent sell off after they announced they had been awarded Investment Partner status by Homes England. Investment Partner status with Homes England extends ReSI Housing's ability to access grant funding to include schemes outside of London and bring forward much needed additional Affordable Housing at national level. So sounds promising in terms of their ability to deliver more homes, given they probably can't issue shares at a discount. i also noted that 4 directors were buying shares around this time too which gave me some reassurance.
It has done a decent job for me as a boring defensive play (see chart below) outperforming by about 20% and looks like it should continue to deliver the dividend too, so two ticks there. I guess there could potentially be some falls in house prices, but given the nature of their properties and the discount I'm not too worried about that.
Finally below the chart see a decent presentation that they did last year which might give you a better understanding of the business if it is of interest to you.