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Target Healthcare REIT nudges up dividend; sees substantial vaccine take up

Tue, 23rd Mar 2021

Care-home investor Target Healthcare REIT nudged up its dividend after it posted a positive first-half performance. The company increased its interim dividend 0.6% to 3.36p per share for the six months through December. Its net asset value total return per share was 3.3%, driven primarily by rental and valuation growth in the underlying portfolio. Pre-tax profit fell 4.5% to £15.8 million, down from £16.6 million, after higher income was offset by expenses, including higher finance costs. Target Healthcare REIT said vaccinations were made available to residents and staff in all of its care homes by 1 February, with 'substantial' uptake across both groups. 'Whilst trading conditions for some underlying tenants may remain challenging for a period, we expect tenant occupancy to recover as new admissions can now occur more safely and residents are able to interact with visitors and their local communities more regularly,' it said. 'Reports from tenants indicate significant levels of enquiries from prospective residents.' At 9:21am: (LON:THRL) Target Healthcare Reit Ltd share price was 0p at 114p Story provided by StockMarketWire.com

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