reports
- Martyn King
Care REIT - Strong Q324 and accretive growth
Care REIT (Care), formerly Impact Healthcare REIT, and its tenants continued to perform strongly in Q324. The quarterly EPRA net tangible assets (NTA) return of 2.1% took the year-to-date total to 7.8%, while rent cover increased to 2.3x. Care is well on track to meet its FY24 DPS target of 6.95p (+2.7%), fully covered by adjusted ‘cash’ earnings, with a yield of 8.3%. The company has also announced two new investments, including forward funding the development of a new, high-quality home, at an...
- Martyn King
Impact Healthcare REIT - Successful turnaround
Impact Healthcare REIT has completed the transfer of four homes located in Scotland to a new tenant. As a result, all of the seven homes that have been operating on an intermediate basis (as part of a turnaround plan) have now been transferred to experienced, long-term operators. The resumption of rental payments from all seven assets will provide a significant uplift to cash rental income, the basis for dividend decisions. Under the new operators, the assets also provide additional and accretiv...
- Martyn King
Impact Healthcare REIT - Visible growth
Impact Healthcare REIT continued to generate consistently positive accounting returns in the six months to June 2024 (5.5%), comprising fully covered DPS growth and increased NAV per share. With a clear path to income growth, including a growing contribution from asset management, interest rate protection and a low cost ratio, we expect this to continue.
Edison issues report on Impact Healthcare REIT (IHR)
Edison Investment Research Limited Edison issues report on Impact Healthcare REIT (IHR) 03-Jul-2024 / 14:55 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 3 July 2024 Edison issues report on Impact Healthcare REIT (IHR) to view the full report. All reports published by Edison are available to download free of charge from its website Edison is authorised and regulated by the . Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securitie...
- Martyn King
Impact Healthcare REIT - Non-core sales enhance the portfolio
Impact Healthcare REIT has exchanged contracts for the sale of five non-core homes for a combined £8.8m, in line with the most recent valuation. The sale is consistent with Impact’s active asset management approach, enhances the quality and long-term sustainability of its overall portfolio, reduces tenant concentration and provides the opportunity to recycle capital. There is no change to our forecasts.
Edison issues report on Impact Healthcare REIT (IHR)
Edison Investment Research Limited Edison issues report on Impact Healthcare REIT (IHR) 18-Jun-2024 / 09:39 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 18 Juni 2024 Edison issues report on Impact Healthcare REIT (IHR) to view the full report. All reports published by Edison are available to download free of charge from its website Edison is authorised and regulated by the . Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securiti...
- Martyn King
Impact Healthcare REIT - Visibly growing income and capital
Impact Healthcare REIT’s Q124 update showed a continuation of the positive trends that contributed to the strong FY23 performance. Rental growth is driving income and capital values, while the operational and financial performance of tenants continues to strengthen. This is reflected in a record level of rent cover. With cash flow remaining strong, the Q1 DPS increased in line with the company’s full-year target of 6.95p (+2.7%).
Impact Healthcare Reit: 1 director
A director at Impact Healthcare Reit maiden bought 20,000 shares at 86p and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two yea...
Edison issues update on Impact Healthcare REIT (IHR): Strong cash flow...
Edison Investment Research Limited Edison issues update on Impact Healthcare REIT (IHR): Strong cash flow underpins further DPS growth 31-Jan-2024 / 09:15 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 31 January 2024 Edison issues update on Impact Healthcare REIT (IHR): Strong cash flow underpins further DPS growth Impact Healthcare REIT’s Q423 update shows a continued strengthening in operational and financial tenant performance, reflected in a record level of rent cover and 100% rent collection. With cash flow remaining stron...
- Martyn King
Impact Healthcare REIT - Strong cash flow underpins further DPS growth
Impact Healthcare REIT’s Q423 update shows a continued strengthening in operational and financial tenant performance, reflected in a record level of rent cover and 100% rent collection. With cash flow remaining strong, we expect the FY23 DPS of 6.77p (+3.5%) was fully covered by adjusted ‘cash’ earnings and the FY24 DPS target has been set at 6.95p (+2.7%). We will review our forecasts with the full year results in late March.
Edison issues update on Impact Healthcare REIT (IHR): On track to meet...
Edison Investment Research Limited Edison issues update on Impact Healthcare REIT (IHR): On track to meet dividend target 26-Oct-2023 / 13:20 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 26 October 2023 Edison issues update on Impact Healthcare REIT (IHR): On track to meet dividend target Impact Healthcare REIT’s Q323 total return was 2.6%, or 8.5% over the first nine months of the year (9M23). With rent cover continuing to strengthen, rent collection back to 100% and 98% of drawn debt fixed or hedged, the company is well on t...
- Martyn King
Impact Healthcare REIT - On track to meet dividend target
Impact Healthcare REIT’s Q323 total return was 2.6%, or 8.5% over the first nine months of the year (9M23). With rent cover continuing to strengthen, rent collection back to 100% and 98% of drawn debt fixed or hedged, the company is well on track to meet its FY23 DPS target of 6.77p (+3.5%), fully covered by adjusted ‘cash’ earnings, with a yield of 8.6%.
- Martyn King
Impact Healthcare REIT - Interest hedging provides dividend visibility
Impact Healthcare REIT delivered strong operational and financial progress in the six months to 30 June 2023 (H123). Completion of additional interest rate hedging arrangements, with interest costs on 92% of drawn debt now fixed or hedged, provides visibility over debt costs and Impact’s ability to continue to pay fully cash-covered progressive dividends.
- Martyn King
Impact Healthcare REIT - Resolving sole underperforming tenant issue
Impact Healthcare REIT has successfully negotiated the transfer of the operation of the homes leased to one of its 13 care home tenants, which, as previously disclosed, in H123 has not paid its contractual rent (3.4% of the group total). The transfer is structured to maintain continuity of staffing and care while generating operational improvements. Under the terms of the transfer, our forecasts for FY23 and FY24 are reduced but we expect full dividend cover to be maintained. Meanwhile, the broa...
- Martyn King
Impact Healthcare REIT - Making hay in all weathers
In Q123, Impact Healthcare REIT built on its strong FY22 underlying income performance. It also benefited from a stabilisation of the portfolio valuation yield, allowing indexed rental growth to feed through to property values and NAV. In this note we focus on the drivers of Impact’s consistently positive financial and operational performance.
- Martyn King
Impact Healthcare REIT - Progressive dividends continuing into FY23
With its Q422 NAV update, Impact Healthcare REIT (IHR) increased it DPS target for FY23 to 6.77p (+3.5%). With earnings continuing to be driven by inflation-indexed rental growth, significantly protected by fixed costs on 80%, we expect DPS to be fully covered by cash earnings. The Q4 impact of yield widening across the broad property sector was limited by the long-indexed leases, while low gearing mitigated the impact on NAV.
- Martyn King
Impact Healthcare REIT - Attractive growing income, innovatively funde...
Impact Healthcare REIT (IHR) has invested £56m, on an accretive basis, in a portfolio of six quality care homes, to be operated by existing tenant Welford Healthcare. The transaction is innovatively funded by a blend of new equity issued to the vendors, attractively priced at the last published NAV, and cash/newly hedged debt, managing near-term interest rate risks.
- Martyn King
Impact Healthcare REIT - Performing well in a challenging environment
Impact Healthcare REIT’s performance year to date provides evidence of the continuing robustness of its strategy and the resilience of its tenants. For tenants, fee growth and increased occupancy are mitigating the impact of inflation such that rents continue to be paid in full while rent cover remains strong. For Impact, indexed rent uplifts are driving organic growth. Rising interest rates will negatively affect earnings and delay capital deployment, but we expect further fully covered DPS gro...
Impact Healthcare REIT (IHR): Successfully growing with tenants
Edison Investment Research Limited Impact Healthcare REIT (IHR): Successfully growing with tenants 11-May-2022 / 07:00 GMT/BST London, UK, 11 May 2022 Impact Healthcare REIT (IHR): Successfully growing with tenants Impact Healthcare REIT’s recent results provided strong evidence of the robustness of its strategy and the resilience of its tenants. Indexed rent uplifts and an historical ability of operators to pass inflation pressures through to fee increases provides inflation protection, and the prospects for further organic growth. Meanwhile, capital is available to fund ac...
- Martyn King
Impact Healthcare REIT - Successfully growing with tenants
Impact Healthcare REIT’s recent results provided strong evidence of the robustness of its strategy and the resilience of its tenants. Indexed rent uplifts and an historical ability of operators to pass inflation pressures through to fee increases provides inflation protection, and the prospects for further organic growth. Meanwhile, capital is available to fund accretive acquisitions and asset management investment.
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