Source - Alliance News

Target Healthcare REIT PLC on Thursday said net tangible assets rose in its second quarter, with a positive total return.

The London-based real estate investment trust, which specialises in care homes, said its European Real Estate Association (EPRA) NTA increased 1.0% to 106.7 pence at December 31, from 105.6 pence at September 30. It was also up 3.6% from 103.0 pence at the end of 2022.

Target Healthcare’s net asset value total return, a combination of NTA movement and dividend payments, was positive 2.4% for the second quarter to December 31, compared with its negative 6.6% return the year before.

The trust declared a dividend of 1.428 pence per share for the quarter, unchanged from the first quarter but down 16% from 1.69p in the second quarter of the prior year.

Target Healthcare also said its portfolio value increased 2.3% to £911.1 million at December 31 from £890.3 million at September 30.

Shares in Target Healthcare traded 1.5% lower at 82.53p on Thursday morning in London.

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