reports
- Martyn King
Target Healthcare REIT - Rental income continuing to drive returns
Target Healthcare REIT’s Q125 update shows indexed rent reviews driving increased earnings and property values. Tenant profitability remains strong, reflected in high levels of rent cover and rent collection. The rate of quarterly dividends has increased 3% from the start of FY25 and is well covered by adjusted earnings.
- Martyn King
Target Healthcare REIT - Q4 rounds off a strong year of performance
Target Healthcare REIT has released its Q424 trading update. We expect the full year results to be published in late September. Income and capital values are benefiting from inflation-linked rental growth, reflected in fully covered dividends and a sixth consecutive quarter of NAV growth and positive total returns. Q424 NAV total return was 2.8%, taking the FY24 total to more than 11%.
Edison issues report on Target Healthcare REIT (THRL)
Edison Investment Research Limited Edison issues report on Target Healthcare REIT (THRL) 01-Jul-2024 / 12:15 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 1 July 2024 Edison issues report on Target Healthcare REIT (THRL) 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 securit...
- Martyn King
Target Healthcare REIT - Enhanced portfolio metrics and interest savin...
Target Healthcare REIT has sold four of its care homes for £44.5m to the incumbent tenant, modestly ahead of the carried value. The homes have performed well since being acquired as part of the significant portfolio transaction in late 2021, but their sale enhances key portfolio average metrics such as age, floor space and unexpired lease term, has been completed at a lower yield than the portfolio average and enables the company to reduce exposure to more expensive debt.
Edison issues update on Target Healthcare REIT (THRL): Positive moment...
Edison Investment Research Limited Edison issues update on Target Healthcare REIT (THRL): Positive momentum continued in Q3 20-May-2024 / 12:09 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 20 Mai 2024 Edison issues update on Target Healthcare REIT (THRL): Positive momentum continued in Q3 Target Healthcare REIT’s Q324 update shows a fifth successive quarter of positive NAV total return, with indexed rent reviews driving increased earnings and property values. Tenant profitability continues to strengthen, reflected in a high le...
- Martyn King
Target Healthcare REIT - Positive momentum continued in Q3
Target Healthcare REIT’s Q324 update shows a fifth successive quarter of positive NAV total return, with indexed rent reviews driving increased earnings and property values. Tenant profitability continues to strengthen, reflected in a high level of rent cover and rent collection. Dividends are well covered by adjusted earnings and we expect further DPS growth.
Edison issues update on Target Healthcare REIT (THRL): Rent cover at a...
Edison Investment Research Limited Edison issues update on Target Healthcare REIT (THRL): Rent cover at a high and fully covered DPS 06-Feb-2024 / 14:00 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 6 Februar 2024 Edison issues update on Target Healthcare REIT (THRL): Rent cover at a high and fully covered DPS Target Healthcare REIT’s Q224 update shows indexed rent reviews driving increased earnings and property values. Tenant profitability continues to strengthen, reflected in a new high level of rent cover and a continuing hi...
- Martyn King
Target Healthcare REIT - Rent cover at a high and fully covered DPS
Target Healthcare REIT’s Q224 update shows indexed rent reviews driving increased earnings and property values. Tenant profitability continues to strengthen, reflected in a new high level of rent cover and a continuing high level of rent collection. Quarterly DPS, increased by 2% at the start of FY24, is now well covered by adjusted earnings.
Edison issues outlook on Target Healthcare REIT (THRL): DPS growth fro...
Edison Investment Research Limited Edison issues outlook on Target Healthcare REIT (THRL): DPS growth from a sustainable base 07-Nov-2023 / 10:15 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 7 November 2023 Edison issues outlook on Target Healthcare REIT (THRL): DPS growth from a sustainable base Target Healthcare REIT’s mid-year rebasing of DPS sought to establish a base for growth on a fully covered basis. With FY23 results in line with previous indications, and progress continuing, the company has increased the quarterly ra...
- Martyn King
Target Healthcare REIT - DPS growth from a sustainable base
Target Healthcare REIT’s mid-year rebasing of DPS sought to establish a base for growth on a fully covered basis. With FY23 results in line with previous indications, and progress continuing, the company has increased the quarterly rate of DPS by 2% from Q124. With rent collection restored, we expect rental growth, development completions and fixed debt costs to support continued, progressive, fully covered dividend growth.
- Martyn King
Target Healthcare REIT - Fully covered DPS and positive total return
Target Healthcare REIT’s Q423 shows a second consecutive quarter of NAV growth, as property yields stabilise and indexed rent uplifts drive valuation growth. Rental growth and near-full rent collection are supporting earnings and delivering full dividend cover. Audited full year results will be published in early October.
- Martyn King
Target Healthcare REIT - Growth from a firm base
Target Healthcare REIT’s decision to rebase the quarterly DPS targeted for H223 (-17% to 1.4p per quarter) established full DPS cover from a base that we forecast will grow, driven by indexed rental growth. The yield remains attractive and rather than the rebase signalling new challenges, operational performance continues to strengthen.
- Martyn King
Target Healthcare REIT - Income progress mitigates pressure on valuati...
For Q223, Target Healthcare REIT declared a second quarterly DPS of 1.69p, supported by inflation-linked rental growth and improving rent collection, which are in turn protected by fixed costs on 96% of borrowings. Yield widening across the broad property sector affected the portfolio’s property valuations, although the effect was significantly mitigated by the quality of Target’s portfolio and long-term, indexed leases.
- Martyn King
Target Healthcare REIT - Key drivers in place and borrowing costs fixe...
Target Healthcare REIT delivered strong absolute growth in FY22 and continued its record of positive NAV returns. However, with cash drag from slower than originally planned investment, and weak rent collection from a minority of homes, per share earnings and DPS cover declined. Although now fixed, higher interest rates will weigh on earnings and delay acquisitions, but we expect earnings growth and DPS cover to increase, supported by indexed rent growth and a recovery in rent collection.
- Martyn King
Target Healthcare REIT - Operational progress and positive returns
Target Healthcare REIT’s Q422 report showed a continuation of consistently positive accounting returns since IPO. Subsequent asset management will significantly improve rent collection and generate recovery gains. For tenants, fee growth and increased occupancy are mitigating the impact of inflation. For Target, indexed rent uplifts, improved rent collection and selective portfolio investments are all positive drivers, but insufficient to offset the impact of higher capital costs. We expect cont...
- Martyn King
Target Healthcare REIT - Q322 quarterly return of 2.5%
Strong accounting returns continued for Target Healthcare REIT during Q322, extending its record of consistent positive returns since IPO. Indexed rent uplifts, an extension of long-term fixed-rate debt and a historical ability of operators to match inflation pressures with fee growth offer good inflation protection. In combination with continuing investment, this supports Target’s well-charted path to full dividend cover.
- Martyn King
Target Healthcare REIT - Resilient H122 and continuing growth
Target Healthcare REIT’s H122 results demonstrate a resilient performance, and completed and prospective capital deployment chart a path to further strong earnings growth and full dividend cover. Indexed rent uplifts, an extension of long-term fixed-rate debt, and an historical ability of operators to match inflation pressures with fee growth offer good inflation protection.
With a more favourable environment, TARGET HEALTHCARE improves to Posi...
TARGET HEALTHCARE (GB), a company active in the Real Estate Holding & Development industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 2 out of 4 stars, as well as its unchanged, defensive market behaviour. The title leverages a more favourable environment and raises its general evaluation to Positive. As of the analysis date March 18, 2022, the closing price was GBp 110.40 and its pot...
- Martyn King
Target Healthcare REIT - Capital deployment and positive returns
Target healthcare REIT has fully deployed the proceeds of the September equity raise, including the acquisition of a significant portfolio of modern, purpose-built homes with a well-established trading record. Enhanced by the recent £100m long-term fixed rate institutional debt facility, remaining capital resources are fully allocated to an identified pipeline of further opportunities. Meanwhile, the Q222 report shows continuing positive accounting returns, driven by inflation-linked rental upli...
- Martyn King
Target Healthcare REIT - Capital deployment and positive returns
Target healthcare REIT has fully deployed the proceeds of the September equity raise, including the acquisition of a significant portfolio of modern, purpose-built homes with a well-established trading record. Enhanced by the recent £100m long-term fixed rate institutional debt facility, remaining capital resources are fully allocated to an identified pipeline of further opportunities. Meanwhile, the Q222 report shows continuing positive accounting returns, driven by inflation-linked rental upli...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.