Target Healthcare H1 rent up 2.9%
By Frank Prenesti
Date: Monday 27 Mar 2023
(Sharecast News) - 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%.
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
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