Target Healthcare H1 rent up 2.9%
Target Healthcare Reit Ltd
77.00p
16:40 26/04/24
1.72%
1.30p
UK care home investor Target Healthcare REIT on Monday reported a rise in contractual rent for the half year of 2.9% to £57.1m, including like‑for-like rental growth of 1.8%.
Equity Investment Instruments
11,766.90
16:59 26/04/24
1.32%
153.54
FTSE 250
19,824.16
16:59 26/04/24
n/a
n/a
FTSE 350
4,470.09
16:59 26/04/24
n/a
n/a
FTSE All-Share
4,423.59
17:14 26/04/24
n/a
n/a
Underlying profits, measured by adjusted EPRA earnings, increased by 37% to £18.7m.
The company’s portfolio market value decreased by 4.8% to £867.7m, primarily driven by a like-for-like portfolio valuation fall of 5.5% and net acquisitions of 0.7%.
In a separate announcement Target Healthcare sold four care homes in Northern Ireland for an undisclosed sum.
Reporting by Frank Prenesti for Sharecast.com