14th Sep 2018 09:03
LONDON (Alliance News) - Triple Point Social Housing REIT PLC said Friday its interim asset value rose as it remains on track to deliver on its dividend targets for its first full year since listing.
For the six months ended June, net asset value per share stood at 101.61 pence. This was 0.8% ahead of the 100.84p reported six months earlier. Since the real estate investment trusts listing in August 2017, NAV per share has risen 3.7% from 98.0p.
In August 2017, Triple Point Social raised GBP200 million through its initial public offer. In March it raised a further GBP45 million through the issue of C shares.
Triple Point Social remains on track to pay an initial total dividend in 2018 of 5.0p per share. This is in line with its stated target at launch. This is expected to grow in line with consumer prices inflation.
"The outlook is positive and we expect the strong performance of the first half of 2018 to continue into the next six months of this year," Triple Point Social Chairman Christopher Phillips said. "We have identified, predominantly through our existing developer relationships, a strong pipeline of properties in line with our investment strategy."
"The market fundamentals remain strong and are demonstrated by stark undersupply and strong central and local government support for Supported Housing," Phillips added. "We are therefore optimistic about the performance of our existing portfolio and our ability to deliver on the pipeline of assets that have already been identified for 2018."
Shares in Triple Point Social were 0.9% higher at 108.00 pence on Friday.
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