Target Healthcare REIT PLC - London-based real estate investment trust investing in care homes - EPRA net tangible assets per share are 103.4 pence on March 31, up slightly from 103.0p on December 31. Says this is driven by like-for-like valuation uplift from ‘inflation-linked rent reviews and reflecting minimal yield shift’. NAV total return is 2.1% for the quarter. Net loan to value is 23.8%, down from 25.1% on December 31. On March 31, portfolio value stands at £855.7 million, down 1.4% year-on-year.

Chief Executive Officer Kenneth MacKenzie says: ‘The long-term stability of prime UK care homes as an investment class continues to be demonstrated. Unlike many other parts of the sector, not only are valuation levels being underpinned by both occupier and investor demand, but we are also seeing rental quality backed by improving profitability trends.’

Current stock price: 76.97p each, up 1.7% on Wednesday morning in London

12-month change: down 31%

Copyright 2023 Alliance News Ltd. All Rights Reserved.