Regional REIT Limited Edison issues update on Target Healthcare REIT

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Regional REIT Limited

11 August 2023

London, UK, 11 August 2023

Edison issues update on Target Healthcare REIT (THRL)

Target Healthcare REIT's Q423 shows a second consecutive quarter of NAV growth, as property yields stabilise and indexed rent uplifts drive valuation growth. Rental growth and near-full rent collection are supporting earnings and delivering full dividend cover. Audited full year results will be published in early October.

The current, rebased annualised rate of quarterly DPS through H223 (5.6p), fully covered on a run-rate basis, reflects an attractive prospective yield of 7.7% and is a base from which to grow. We forecast 3.6% growth in FY24. Meanwhile, the discount to end-FY23 NAV is c 30%.

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About Edison: E dison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings.

Having been the first company in-market 17 years ago, Edison has more than 100 employees and covers every economic sector. Headquartered in London, Edison also has offices in New York, Sydney and Wellington.

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Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information, please contact Edison:

Martyn King [phone] [e-mail]

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August 11, 2023 02:00 ET (06:00 GMT)