Triple Point Social Housing REIT (SOHO) returned to full dividend cover in H124, with EPRA earnings benefiting from inflation-linked, mostly uncapped rental growth and improving rent collection. Property valuations and NAV per share were lower, but progress with the two problem tenants and falling interest rates suggest this could reverse. Meanwhile, the shares yield more than 8% with the board targeting asset sales and share repurchases to address the discount to NAV.