21st Oct 2024 11:56
Care REIT PLC - real estate investment trust focused on care homes and other healthcare properties in the UK - Changes name from Impact Healthcare REIT, effective from Tuesday, saying the new name better reflects the type of real estate it buys. It also follows changes in rules by the UK Financial Conduct Authority. These restrict companies from using sustainability labels such as "impact" in investment products, unless the primary aim of the business is social impact. Care REIT plans no changes to business or operations. It aims for stable returns over the long-term, while "contributing positively to social outcomes".
The plan for a name change was first revealed with the company's half-year results in August. Pretax profit was GBP26.3 million in the six months that ended June 30, down 4.6% from GBP27.6 million a year before. EPRA net tangible assets on that date were 117.98 pence, up 2.6% from 114.96p on December 31. It declared a 3.475p interim dividend, up 2.7% from 3.385p a year before.
Current stock price: 89.80p, up 1.7% in London on Monday
12-month change: up 13%
By Tom Waite, Alliance News editor
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