4th Aug 2021 19:30
Target Healthcare REIT PLC - investor in modern, purpose-built care homes in UK - As at June 30, net asset value per share rises 1.2% to 110.4 pence from 109.1p at the end of March, due to valuation uplifts across the portfolio driven by rises in rent.
Over the quarter, operational portfolio rose 1.4% in value on a like-for-like basis to GBP684.8 million, comprising 77 properties.
Declares fourth interim dividend of 1.68 pence per share, bringing the total annualised payout to 6.72p.
"The valuation uplifts we have seen during the quarter demonstrate the quality of the portfolio we have been patiently building. Furthermore, the increase in occupancy we are seeing is encouraging and as anticipated based on feedback from our tenants in recent months. We have achieved a milestone in resolving key portfolio challenges in respect of two tenants, with one further re-tenanting transaction to conclude. We will closely monitor the other tenant's continued improvements in trading, as we will for all tenants as we emerge from the pandemic, supporting them in our capacity as an engaged landlord," notes Kenneth Mackenzie, CEO of Target Fund Managers.
Current stock price: 124.40 pence
Year-to-date change: up 9.1%
By Dayo Laniyan; [email protected]
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