Impact Healthcare REIT PLC said on Tuesday new investments and rent reviews drove its net asset value per share higher during the first quarter of 2023.

The London-based healthcare-focused real estate investment trust said its NAV per share at March 31 was 112.60 pence, up 2.2% from 110.17p at December 31. The unaudited NAV total return for the quarter was 3.7%.

An investment in a portfolio of six new care homes for £56 million and an 11% increase in total contracted annual rent to £47.9 million attributed to NAV growth.

Impact Healthcare also raised its quarterly dividend by 3.2% to 1.6925p from 1.64p in the final quarter of 2022.

Shares in Impact Healthcare were up 1.3% at 97.65p each in London on Tuesday afternoon.

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