22nd May 2024 12:00
(Alliance News) - Impact Healthcare REIT PLC on Wednesday announced positive quarterly performance driven by rising occupancy and fees.
The London-based owner of care homes and other healthcare properties in the UK said net asset value per share rose 4.2% to 117.31 pence at March 31 from 112.60p a year prior.
The dividend target for the full year stands at 6.95p per share, up 2.7% from 6.77p.
Independent valuations concluded the company's portfolio is now worth GBP660.8 million up from GBP542.1 million due to acquisitions and rising property prices.
"Rent reviews in the quarter, all inflation-linked, raised rents by 4% for those properties. Tenant performance continued to improve driven by continued stable bed occupancy and rising fees," the company said.
Furthermore, net initial yield marginally declined to 6.9% from 7.0%.
Impact Healthcare shares were down 0.2% to 88.40 pence each in London on Wednesday noon.
By Elijah Dale, Alliance News reporter
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