Edison Investment Research - Target Healthcare REIT PLC (THRL) - Carful investment paying dividends

Report

Edison Investment Research

Martyn King

- Carful investment paying dividends

Target recently released full year results for the year to 30 June 2017 and has published its annual report. The key figures showing strong growth in assets and rental income and increasing dividend cover had already been released. In this report we focus on the strategic progress made through the year and the medium-term outlook. Reflecting the manager’s identification of a number of acquisition opportunities, we have revised our estimates upwards for portfolio growth and assume that current debt facilities will be fully utilised by end-FY19, with net LTV increasing above the self-imposed 20% long-term target (to c 24%).

30/10/2017 11 EN

Underlying

Target Healthcare REIT PLC

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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JE00B95CGW71 Jersey

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Martyn King

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- Carful investment paying dividends

Target Healthcare Reit Ltd: 1 director

Edison Investment Research Limited: Target Healthcare REIT (THRL): Consistent positive returns with social impact

Target Healthcare REIT - Consistent positive returns with social impact

Zalaris - Continuing contract momentum in FY24

BlackRock Sustainable American Income Trust - Unique value/ESG fund at an attractive valuation

Northern Data Group - Continued progress as a diversified HPC provider

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