13th Nov 2013 11:37
LONDON (Alliance News) - Target Healthcare REIT Limited Wednesday said its net asset value per share decreased to 94.46 pence on September 30 from 96.00 pence in June because it paid a maiden dividend of 2.0 pence in August.
Target declared a second interim dividend of 1.5 pence per share.
In an interim management statement for the period July 1 to September 30, the specialist property investment trust also said it acquired a care home in September for GBP4 million.
Located in Thirsk, North Yorkshire, the care home is a modern, purpose-built home completed in 2013 and is leased to existing operator Ideal Carehomes Group, Target said.
Outside of the reporting period, Target acquired a further two care homes in the North West of England for approximately GBP11.5 million.
Target said the healthcare property sector continues to attract interest from domestic and international investors.
"The supply of quality stock being openly marketed across the sector remains limited; however, with the company's demonstrable success in identifying and sourcing a range of attractive investment opportunities, both on- and off-market, the outlook for the sector and Target Healthcare remains positive," it said.
As a result the firm said it would target further acquisitions.
The stock was trading at 107.00 pence Wednesday morning down 0.75 pence or 0.7%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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