Target Healthcare REIT - Growing strongly with asset quality focus
Target is continuing to grow its portfolio and income strongly, supporting dividend growth. Capital values also continue to increase. LTV remains modest but available resources are committed to funding pre-let developments of modern, purpose-built assets. With a near-term pipeline of £79m in acquisition opportunities, a placing of shares at 109p has been proposed, to raise up to £40m. The c 6% dividend yield is backed by very long-dated, RPI-linked leases and supported by careful asset and operator selection, and we continue to forecast a fully covered dividend in FY20.Target Healthcare REIT is engaged in the investment into care homes properties in the United Kingdom. Investment Manager: Target Advisers LLP
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