|High / Low (52 weeks)||117.0p / 105.9p|
|Stock market listing||LN|
|Forecast net debt (£m)||36.3|
|Forecast gearing ratio (%)||14|
* % Relative to local index
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|Y/E Jun||Revenue (£m)||EBITDA (£m)||PBT (£m)||EPS (p)||P/E (x)||P/CF (x)|
Last updated on 23/03/2017
Target Healthcare REIT (Target) continues to approach full investment, having completed the acquisitions of four care homes in the quarter to 31 March and one more in April. Portfolio value stood at £274.6m at the quarter-end (31 December: £253.1m). The Q217 dividend was the main cause of a slight decrease in EPRA NAV per share to 101.5p (31 December: 101.8p); we expect full dividend cover to be achieved in FY18 as the company becomes fully invested. The secular trends of an ageing population and a persistent lack of modern care homes create a significant opportunity for further investment to underpin the attractive dividend yield.
Last updated on 28/04/2017
The UK population over the age of 85 is expected to increase by 140% from 2014 to 2039 and the number of residential care beds has fallen in recent years. There is a lack of high-quality care homes of the sort Target invests in, providing ample opportunity to grow the portfolio.
Last updated on 04/04/2017
|Gordon Bland, FD|
31 Pier Road
+44 (0)1786 845 912