25th Apr 2018 13:37
LONDON (Alliance News) - Care homes investor Target Healthcare REIT Ltd on Wednesday said its first-quarter net asset value per share rose slightly, with its portfolio also increasing in value over the period.
Target's net asset value per share at March's end was 105.00 pence, compared to 104.40p at the end of December, giving a net asset value total return of 2.1%.
The company's total portfolio value across its 53 assets was GBP341.4 million, up 0.6% like-for-like from the end of 2017.
It has declared a third interim dividend of 1.6125p, flat on the payout in the prior quarter.
Chief Executive Kenneth MacKenzie said: "The existing portfolio continues to perform well with stable rental returns growing with the increased level of inflation that we are currently seeing in the market. We continue to act as an engaged landlord with regular site visits and an active tenant dialogue which gives us additional assurance with regard to the operational performance of our homes whilst also allowing our tenants to benefit from our sector specialist knowledge and experience.
"The team is currently highly focused on investing the proceeds of our recent capital raise. We were delighted to acquire two exciting opportunities in Lancashire and Shropshire in March and look forward to providing further updates in due course."
Shares were up 0.5% on Wednesday at 108.00p each.
Related Shares:
Target Healthc.