Target Healthcare Reit (THRL)

Company name:	Target Healthcare Reit Plc
EPIC:	THRL	Trading Currency:	GBX
Market Sector:	F25T	ISIN:	GB00BJGTLF51
Market Segment:	STMM	Share Type:	DE
WWW Address:		Description:	ORD 1P
Industry Sector:	REAL ESTATE INVESTMENT TRUSTS

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
111.60	1.2 [1.09]	111.20	111.80	112.00	112.20	110.60	1,133,366
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
692.18	620.24	0.01	5.32	6.72	20.98	6.02	126.00 - 103.80

Target Healthcare Reit Key Figures

(at previous day's close)
Market Cap.	692.18	m
Shares In Issue	620.24	m
Prev. Close	110.40
PE Ratio	20.98
Dividend Yield	6.02	%
EPS - basic	5.32	p
Dividend PS	6.72	p
Dividend Cover	0.79
Cash Flow PS	4.02	p
Return On Equity (ROE)	4.48	%
Operating Margin	61.35	%
PEG Factor	3.92
EPS Growth Rate	5.35	%
Dividends PS Growth Rate	0.60	%
Net Debt	132.10	m
Gross Gearing	21.33	%
Quick Assets	88.54	m
Net Working Capital	70.07	m
Intangibles / Fixed Assets	-	%
Turnover PS	6.65	p
Pre-Tax Profit PS	4.08	p
Retained Profit PS	4.08	p
Cash PS	3.40	p
Net Cash PS	0.43	p
Net Tangible Asset Value PS *	91.12	p
Net Asset Value PS	91.12	p
Spread	0.60 (0.54%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Target Healthcare Reit Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	115.80	108.60
4 weeks	120.60	108.60
12 weeks	120.60	107.00
1 year	126.00	103.80

Share Price Chart (5 years)

Target Healthcare Reit Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	113.00	-1.40	-1.24	108.60	4.16		113.22
4 weeks	115.60	-4.00	-3.46	108.60	2.36		114.51
12 weeks	112.60	-1.00	-0.89	107.00	1.76		114.00
26 weeks	115.20	-3.60	-3.13	103.80	1.49		113.06
1 year	114.60	-3.00	-2.62	103.80	1.45		115.44
3 years	116.60	-5.00	-4.29	65.60	0.91		113.46
5 years	120.00	-8.40	-7.00	65.60	0.68		113.29
† periods calculated are whole weeks rather than calendar months

Target Healthcare Reit Key Management Ratios

Target Healthcare Reit Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	5.92
PE Ratio	20.98
Tobin's Q Ratio	1.00
Tobin's Q Ratio (excl. intangibles)	1.00
Dividend Yield	6.02	%
Market-to-Book Ratio	1.22
Price-to-Pre-Tax Profit PS	27.36
Price-to-Retained Profit PS	27.35
Price-to-Cash Flow PS	27.74
Price-to-Sales PS	16.78
Price-to-Net Tangible Asset Value PS	1.22
Price-to-Cash PS	32.80
Net Working Capital PS	11.30
Price Pct to Working Capital PS	9.88	%
Earnings Yield	4.77	%
Average PE	22.45
Years in average	5
PE to PE average	93.45	%

Target Healthcare Reit Financial Ratios

(Leverage Ratios)
Debt Ratio	19.25	%
Debt-to-Equity Ratio	0.24
Debt-to-Equity Ratio (excl. Intgbl)	0.24
Debt-to-Equity Market Value	0.19
Net Gearing	18.39	%
Net Gearing (excl. Intangibles)	18.39	%
Gross Gearing	21.33	%
Gross Gearing (excl. Intangibles)	21.33	%
Gearing Under 1 Year	2.57	%
Gearing Under 1 Year (excl. Intgbl)	2.57	%
Assets/Equity	1.27
Cash/Equity	3.73
(Liquidity Ratios)
Net Working Capital to Total Assets	9.75	%
Current Ratio	4.79
Quick Ratio (Acid Test)	4.79
Liquidity Ratio	1.14
Cash & Equiv/Current Assets	23.84	%
(Solvency Ratios)
Enterprise Value	805.82	m
CFO/Sales	0.61
CFO/Attributable Profit	0.99
CFO/Assets	0.03
CFO/Debt	0.16
Total Debt/Equity Market Value	0.22
Total Debt/Sales	3.71
Total Debt/Pre-Tax Profit	6.06
Total Debt	153.21	m
Total Debt/Net Current Assets	2.19	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	2.71	%
5 yr Compound Earnings Growth	1.91	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	2

Beta (60-Mnth)	Beta (36-Mnth)
0.0110	0.0124

Target Healthcare Reit Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	3.61	%
Return On Assets (ROA)	3.66	%
Net Profit Margin	61.37	%
Assets Turnover	0.06
Return On Equity (ROE)	4.48	%
Return On Investment (ROI)	3.75	%
Dividend Payout Ratio	126.32	%
Plowback Ratio	-26.32	%
Growth from Plowback Ratio	-1.26	%
Net Income Of Revenues	61.37	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.08
Fixed Assets Turnover	0.07
Current Assets Turnover	0.45
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	16.76
Debtors-to-Sales	133.19	%
Debt Collection Period	486.14	Days

Target Healthcare Reit Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
05 May 2022	Interim	GBX	1.69	01/12/2021	31/03/2022	12/05/2022	13/05/2022	27/05/2022	-
27 Jan 2022	Interim	GBX	1.69	01/07/2021	31/12/2021	10/02/2022	11/02/2022	25/02/2022	-
03 Nov 2021	Interim	GBX	1.69	30/05/2021	30/09/2021	11/11/2021	12/11/2021	26/11/2021	-
04 Aug 2021	Interim	GBX	1.68	30/06/2020	30/06/2021	12/08/2021	13/08/2021	27/08/2021	6.72
27 Apr 2021	Interim	GBX	1.68	01/12/2020	31/03/2021	13/05/2021	14/05/2021	28/05/2021	-
02 Feb 2021	Interim	GBX	1.68	01/07/2020	31/12/2020	11/02/2021	12/02/2021	26/02/2021	-
03 Nov 2020	Interim	GBX	1.68	30/05/2020	30/09/2020	12/11/2020	13/11/2020	27/11/2020	-
05 Aug 2020	Interim	GBX	1.67	30/06/2019	30/06/2020	13/08/2020	14/08/2020	28/08/2020	6.68
21 Apr 2020	Interim	GBX	1.67	01/12/2019	31/03/2020	07/05/2020	11/05/2020	29/05/2020	-
06 Feb 2020	Interim	GBX	1.67	01/07/2019	31/12/2019	13/02/2020	14/02/2020	28/02/2020	-
07 Nov 2019	Interim	GBX	1.67	30/05/2019	30/09/2019	14/11/2019	15/11/2019	29/11/2019	-
10 Jul 2019	Interim	GBX	1.65	30/06/2018	30/06/2019	18/07/2019	19/07/2019	02/08/2019	6.58
25 Apr 2019	Interim	GBX	1.65	01/12/2018	31/03/2019	02/05/2019	03/05/2019	31/05/2019	-
31 Jan 2019	Interim	GBX	1.64	01/07/2018	31/12/2018	07/02/2019	08/02/2019	22/02/2019	-
15 Oct 2018	Interim	GBX	1.64	30/05/2018	30/09/2018	25/10/2018	26/10/2018	30/11/2018	-
27 Jul 2018	Interim	GBX	1.62	30/06/2017	30/06/2018	09/08/2018	10/08/2018	31/08/2018	-
26 Apr 2018	Interim	GBX	1.61	01/12/2017	31/03/2018	03/05/2018	04/05/2018	25/05/2018	-
19 Jan 2018	Interim	GBX	1.61	01/07/2017	31/12/2017	01/02/2018	02/02/2018	23/02/2018	-
09 Nov 2017	Interim	GBX	1.61	30/05/2017	30/09/2017	16/11/2017	17/11/2017	30/11/2017	-
27 Jul 2017	Final	GBX	1.57	30/06/2016	30/06/2017	03/08/2017	04/08/2017	25/08/2017	6.28
26 Apr 2017	Interim	GBX	1.57	01/12/2016	31/03/2017	04/05/2017	05/05/2017	26/05/2017	-
26 Jan 2017	Interim	GBX	1.57	01/07/2016	31/12/2016	02/02/2017	03/02/2017	24/02/2017	-
27 Oct 2016	Interim	GBX	1.57	30/05/2016	30/09/2016	03/11/2016	04/11/2016	25/11/2016	-
02 Aug 2016	Final	GBX	1.39	30/06/2015	30/06/2016	11/08/2016	12/08/2016	26/08/2016	6.02
15 Apr 2016	Interim	GBX	1.54	01/12/2015	31/03/2016	28/04/2016	29/04/2016	27/05/2016	-
04 Feb 2016	Interim	GBX	1.55	01/07/2015	31/12/2015	11/02/2016	12/02/2016	26/02/2016	-
05 Nov 2015	Interim	GBX	1.54	30/05/2015	30/09/2015	12/11/2015	13/11/2015	27/11/2015	-
06 Aug 2015	Final	GBX	1.53	30/06/2014	30/06/2015	13/08/2015	14/08/2015	28/08/2015	6.12
07 May 2015	Interim	GBX	1.53	01/12/2014	31/03/2015	14/05/2015	15/05/2015	29/05/2015	-
05 Feb 2015	Interim	GBX	1.53	01/07/2014	31/12/2014	12/02/2015	13/02/2015	27/02/2015	-
06 Nov 2014	Interim	GBX	1.53	30/05/2014	30/09/2014	13/11/2014	14/11/2014	28/11/2014	-
29 Jul 2014	Final	GBX	1.50	30/06/2013	30/06/2014	06/08/2014	08/08/2014	29/08/2014	6.00
29 Apr 2014	Interim	GBX	1.50	01/12/2013	31/03/2014	07/05/2014	09/05/2014	30/05/2014	-
30 Jan 2014	Interim	GBX	1.06	01/07/2013	31/12/2013	05/02/2014	07/02/2014	28/02/2014	-
17 Oct 2013	Interim	GBX	0.44	27/06/2013	27/10/2013	23/10/2013	25/04/2014	28/02/2014	-
17 Oct 2013	Interim	GBX	1.50	30/05/2013	30/09/2013	23/10/2013	25/10/2013	29/11/2013	-
01 Aug 2013	Final	GBX	2.00	30/06/2012	30/06/2013	07/08/2013	09/08/2013	30/08/2013	2.00

Target Healthcare Reit Fundamentals

	30 Jun 2018 (GBP)		30 Jun 2019 (GBP)		30 Jun 2020 (GBP)		30 Jun 2021 (GBP)
turnover	22.03	100.00%	27.92	100.00%	36.05	100.00%	41.24	100.00%	m
pre tax profit	14.83	67.31%	18.10	64.84%	22.25	61.71%	25.30	61.35%	m
attributable profit	14.84	67.37%	18.10	64.84%	22.25	61.72%	25.31	61.37%	m
retained profit	14.84	67.37%	18.10	64.84%	22.25	61.72%	25.31	61.37%	m
eps - basic (p)	5.25		4.91		5.05		5.32
eps - diluted (p)	5.25		4.91		5.05		5.32
dividends per share	-		6.58		6.68		6.72

Target Healthcare Reit Balance Sheet

	30 Jun 2018 (GBP)		30 Jun 2019 (GBP)		30 Jun 2020 (GBP)		30 Jun 2021 (GBP)


	30 Jun 2018 (GBP)		30 Jun 2019 (GBP)		30 Jun 2020 (GBP)		30 Jun 2021 (GBP)
ASSETS
fixed assets	-	-%	-	-%	-	-%	-	-%	m
intangibles	-	-%	-	-%	-	-%	-	-%	m
fixed investments	362.92	83.46%	469.60	87.22%	570.09	85.89%	629.86	87.68%	m
current assets - other	-	-%	-	-%	7.50	1.13%	7.32	1.02%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	30.50	7.02%	41.84	7.77%	49.75	7.49%	60.11	8.37%	m
cash & securities	41.40	9.52%	26.95	5.01%	36.44	5.49%	21.11	2.94%	m

TOTAL	434.82	100%	538.38	100%	663.77	100%	718.39	100%	m

LIABILITIES
creditors - short	7.36	1.69%	11.80	2.19%	13.11	1.98%	18.47	2.57%	m
creditors - long	68.86	15.84%	113.49	21.08%	156.54	23.58%	134.74	18.76%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	76.22	17.53%	125.29	23.27%	169.66	25.56%	153.21	21.33%	m

EQUITY
ord cap, reserves	358.61	82.47%	413.09	76.73%	494.11	74.44%	565.19	78.67%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	358.61	82.47%	413.09	76.73%	494.11	74.44%	565.19	78.67%	m

OTHER
NAV Basic	105.70		107.30		108.00		-
NAV Diluted	105.70		107.30		108.00		-

Target Healthcare Reit Cash Flow Statement

	30 Jun 2018 (GBP)	30 Jun 2019 (GBP)	30 Jun 2020 (GBP)	30 Jun 2021 (GBP)
Operating CF	22.14	18.16	21.47	24.96	m
Pre-Financing CF	-67.84	-81.45	-100.95	-18.62	m
Retained CF	30.99	-14.45	9.49	-15.33	m

Target Healthcare Reit Brokers

Broker infomation is not available for this class of stock.