Impact Healthcare Reit Share Discussion Threads

[cwa1] 17/2/2022 08:06

Slightly better than I had expected given market wobbles and the share price being around the offer price, so no big incentive to buy. Onwards and hopefully upwards in time...

[gbcol] 17/2/2022 07:17

£40million raised against £50million target, which I would say is a fairly decent effort with current market uncertainties, although not outstanding.

I’ve taken an initial position here and will look to add when I can.

[18bt] 02/2/2022 17:26

For a lot of others, shareholders haven't even had an option to subscribe at the offer price, whatever it was.

[uncle_sam] 02/2/2022 15:15

Treated "properly"? Hmm. Sp right now 115, offer price to shareholders 114. Not exactly an incentive there ...

[18bt] 27/1/2022 07:57

New fund raise, but shareholders at last being treated properly by a REIT raising money. Well done IHR - I will support.

[cwa1] 23/12/2021 14:21

And there's more...



The Group has invested in a portfolio of 12 care homes which were owned and operated by Kingdom Homes whose owners are retiring from the care home business. All of the homes will be operated by an existing Group tenant, Holmes Care Group, and are located in Fife, Scotland, offering 480 high quality en-suite beds, located within established residential areas.

[cwa1] 23/12/2021 08:14

ACQUIRES THREE CARE HOMES FOR £14.3 MILLION

The Board of Directors of Impact Healthcare REIT plc (ticker: IHR), the real estate investment trust which gives investors exposure to a diversified portfolio of UK healthcare real estate assets, in particular care homes, is pleased to announce that the Group has recently completed the acquisition of a property and exchanged contracts to acquire two further properties all with existing Group tenants.



Once completed, these transactions are expected to deliver the following benefits to the Group:

· enable the Company to deploy £14.3 million of capital, plus transaction costs;

· these acquisitions will add three care homes comprising 208 beds to the Group's portfolio, which will then total 112 care homes and 6,191 beds (at 30 September 2021: 108 homes and 5,900 beds);

· increase the Group's contracted annual rent roll to £35.5 million, a 4.7% increase on contracted annual rent at 30 September 2021 of £33.9 million;

· EPC ratings of B 1 on two homes and EPC C 1 on the third home with a strategy to deliver an EPC B;

· rent cover at the acquisition of each care home will be approximately two times; and

· all of the acquisitions will be leased on Impact's new improved green leases (the "Group's standard lease"), with fixed terms of 25 years and annual upward-only rent reviews linked to the Retail Price Index ("RPI"), with commitments from each tenant to a minimum annual expenditure on the maintenance of the care homes.



Springhill Nursing care home in Kilmarnock, Scotland, for £3.25 million

Earlier in the quarter, the Group completed the acquisition of Springhill Nursing care home in a sale and lease back with Silverline, one of the Group's existing tenants. Springhill, located in Kilmarnock, Scotland, is a four storey Georgian building with a substantial purpose-built extension offering a total of 61 beds with en suite wet room facilities. The Group paid a net purchase price of £3.25 million with an initial annual rent of £243,000 with rent cover at acquisition of just under two times. The acquisition price reflects gross initial yield of 7.5%. The home has an EPC rating of C531 with a strategy to achieving an equivalent EPC rating of B. Silverline has entered into the Group's standard lease, with a fixed term of 25 years with no break clauses and RPI uplifts of between 2% and 4% per annum. Silverline has committed to a minimum annual expenditure on the maintenance of the care homes.



Portfolio of two care homes in Northern Ireland leased to Electus Healthcare for £11.02 million

The Group has exchanged contracts for the acquisition of two care homes in Northern Ireland, subject to re-registration with the Regulation and Quality Improvement Authority, which is expected to be procedural. Both care homes are purpose-built in established residential areas and provide a combined total of 147 en suite bedrooms. One of the homes is located in the north-west of Belfast, the second in the coastal town of Larne. Both homes have an EPC rating B1. The two homes will be operated by an existing tenant, Electus, and take our total care homes in Northern Ireland to five with 340 beds.



The Group is to pay a net purchase price of £11.02 million to the vendors. The initial annual rent has been agreed at £854,500, reflecting a gross initial yield of 7.8%. Rent cover at acquisition will be two times.



Electus will enter the Group's standard leases, with a fixed term of 25-years with no break clauses. The rents receivable under the leases will be subject to annual upward-only rent reviews linked to RPI, with a floor of 2% p.a. and a cap of 4% per annum. Electus has committed to a minimum annual expenditure on the maintenance of the care homes.

[cwa1] 22/12/2021 12:33

Some reasonably cheap debt has been secured...

[sharesoc] 02/11/2021 09:53

In case you missed our webinar with Impact Healthcare REIT the recording and stockopedia report can be found here:
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[cwa1] 28/10/2021 08:10

XD today, pay day 19/11

[speedsgh] 15/10/2021 11:40

NAV, PORTFOLIO UPDATE AND DIVIDEND DECLARATION -

HIGHLIGHTS FOR THE QUARTER

· Unaudited net asset value ("NAV") as at 30 September 2021 of £392.1 million, 111.82 pence per share (NAV as at 30 June 2021: £388.0 million, 110.66 pence per share).

· The unaudited NAV total return for the quarter was 2.5%, comprising dividends paid in the quarter of 1.6025 pence and 1.16 pence per share growth in NAV.

· Dividend per ordinary share of 1.6025 pence declared today for the period, in line with the Company's annual dividend target of 6.41 pence per share for the year to 31 December 20211, a 1.91% increase over the 6.29 pence in dividends paid per ordinary share for the year ended 31 December 2020.

· The Group's property portfolio ("Portfolio") was independently valued at £447.7 million as at 30 September 2021 (valuation as at 30 June 2021: £432.4 million) . This represents a 1.4% increase in value on a like for like basis in the quarter and a total increase of 3.5% over that period including an acquisition and a disposal.

o The like-for-like movements resulted from both rental growth and some yield compression.

o The Group achieved an attractive average rental growth level of 3.79 % on assets which were reviewed during the period.

o 100% of the Group's rental income is linked directly to inflation: 87.4% RPI (with a floor and cap at 2% p.a. and 4% p.a.), 11.5% RPI (with a floor and cap at 1% p.a. and 5% p.a.) and 1.1% annual CPI uplift.

· The portfolio EPRA 'topped up' Net Initial Yield at 30 September 2021 was 6.67% (30 June 2021 6.75%)

· The Group continues to receive 100% of rent payments as they fall due.

· Gross loan to value ratio ("LTV") was 14.5% as at 30 September 2021 (at 30 June 2021: 13.7%) .

· The Investment Manager continues to progress a strong and growing pipeline of attractive investment opportunities with a number in exclusivity. The potential investment opportunities in the pipeline are managed by high-quality operators, well maintained and offer the Company attractive levels of rent cover and a blended net initial yield in line with previous acquisitions made by the Company.

[continues]

[sharesoc] 07/10/2021 15:19

Not long left until our webinar with Impact Healthcare REIT (IHR) on the 20 October 2021. Andrew Cowley, Managing Partner will be presenting:

[wilwak] 30/9/2021 20:41

Why the sudden share price weakness?

[nerja] 30/9/2021 19:19

I don’t know sold half of mine but it seems more than a placing now, all the bond proxy shares are going the same way, it where the bottom for them is relative to interest rates that may be the key!

[cwa1] 30/9/2021 17:36

Certainly fell away at the death, so wouldn't be surprised

[catch007] 30/9/2021 17:22

CWA1 - Thank you

Held off adding here as a placing seems imminent following THRL fund raise

[cwa1] 30/9/2021 14:19

Edison research...

[sharesoc] 26/9/2021 22:48

We are hosting a webinar with Impact Healthcare REIT (IHR) on the 20th October. May be of interest to current shareholders and potential investors:

[nerja] 08/9/2021 07:42

They look good for a top up, but they also look like another placing is due, so caught in two minds

[18bt] 08/9/2021 07:32

Yes, happy with those. A c5% premium to NAV sounds fine considering the inflation-linked yield these give.

[nerja] 08/9/2021 07:24

Seem pretty good results to me

[18bt] 01/9/2021 14:32

I don't think you will get tax back if held in non-tax exempt account - a PID isn't classed as a dividend for the purposes of £2,000 0% dividend exemption.

[backwoodsman] 01/9/2021 09:50

Hi CW, I think your ISA should get the tax back as a matter of course. The answer to your first question is that it depends on your personal tax position.

[cwa1] 01/9/2021 09:39

Morning All

I took my first holding here in a NON tax protected format and the recent dividend has been paid nett of 20% tax by my broker-ii in this case. I assume this is correct...but can I claim it back anywhere? Also, if I held in an ISA with the same broker would I automatically get the full amount credited to my account?

Thanks for any feedback

[cwa1] 13/7/2021 16:46

Edison research from today:-



Valuation: Robust, indexed, long-term income

FY21e DPS represents an attractive yield of 5.4%, with good prospects for fully covered dividend growth (both on an EPRA basis and adjusted ‘cash’ basis), supporting the c 7% premium to Q121 NAV per share, a discount to peers.