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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Target Healthcare Reit Plc | THRL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.60 | 2.11% | 77.30 | 12:35:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 79.00 | 76.40 | 79.00 | 75.70 |
| Industry Sector |
|---|
| REAL ESTATE INVESTMENT TRUSTS |
| Top Posts |
|---|
Posted at 22/11/2023 13:39 by basem1 I was thinking of buying some of these for the yield and potential growth but interactive investor are warning me that over and above stamp duty there is an additional 4.4% to pay for product costs per annum Is this correct please ? |
Posted at 01/3/2023 17:56 by al101uk From Target Healthcares own investor diclosure document:Gearing policy "Gearing calculated as borrowings as a percentage of the Group's assets, may not exceed 35 per cent at the time of drawdown. The Board currently intends that, over the medium term, borrowings of the Group will represent approximately 25 per cent. of the Group's gross assets at the time of drawdown. However, it is expected that Group borrowings will exceed this level from time to time as borrowings are incurred to finance the growth of the property portfolio." And from the most recent NAV RNS: "As at 31 December 2022, the Group's total borrowings were £240 million, representing a net LTV of 25.1% (total gross debt less cash, as a proportion of gross property value). The Group's weighted average cost on its drawn debt, inclusive of amortisation of loan arrangement costs, was 3.79% (30 September 2022: 3.49%). This excludes the amortisation of the cost of the interest rate cap, the upfront cost of which has already been deducted in full from the EPRA NTA as shown in the table in the appendix. The increase over the quarter was due to the increase in market interest rates impacting the variable rate applied to the Group's revolving credit facilities." I can only find positive recent write ups, which are listed at the bottom of the page here: Have you a link to go with your quote? Googling your quote gets no results. edit - Found it: The article was just plain wrong, he corrected it on Motley Fool: Now reads: "With the old world of cheap credit firmly in the rear-view mirror, I am wary of highly leveraged companies. Fortunately, Target Healthcare has its debt burden under control. The Company’s Net Loan-to-Value is 25% — calculated as total debt less cash held divided by the value of the property portfolio." |
Posted at 08/12/2022 11:47 by uapatel Was re reading the Edisongroup document on Target Healthcare. It suggests they might review the dividend and cut it by around 20%. But nothing official from the company might be more a case of we’ve looked into it with new members of the board and decided to stick with our dividends. But that might explain the recent pull. Back from High 80s. But beyond this I’m no wiser.Page 4…. Target is primarily focused on income returns, and we would expect that maintaining a high distribution to shareholders is important to the board. It is nonetheless the case that there are some investors with a preference for fully covered dividends and we can also see some advantages that would arise from a rebasing of the dividend. An uncovered dividend requires capital resources to be diverted away from long-term growth and in the near term requires additional borrowing, which is unattractive at high borrowing rates. Moreover, whatever the level of dividends paid, there is no impact on total accounting returns. A 20% rebasing of the dividend would be sufficient to restore underlying (excluding the hedging premium) cover for FY23, create a base for future growth, and at the current share price would represent a yield of more than 6%…. |
Posted at 12/10/2022 10:52 by fred205 I am guessing the root cause of this rout in the share price is big investors who borrowed money at short term low interest to buy high yielding property shares . Now the interest rate on the debt is rolling over at higher levels they need to sell or risk owing more than their holding is worth.Add to this the higher food costs/ short labour supply high energy costs to keep guests warm and the profitability of the tenants comes into question. Investors do need to understand I think that the use of borrowed money by big shareholders to buy high yielders renders all such shares risky when interest rates rise. If anyone thinks this is wrong please do inform. Thank you. |
Posted at 01/9/2022 07:14 by cwa1 Sounds positive on the whole:-Portfolio update Target Healthcare (LSE: THRL), the UK listed specialist investor in modern, purpose-built care homes, is pleased to provide the following update on its portfolio initiatives and rent collection. The Group's Net Asset Value, Corporate Update & Dividend announcement published on 4 August 2022 detailed re-tenanting initiatives which would, in aggregate, reallocate nine homes providing 8.3% of contractual rent to six alternative operators, and alleviate the impact on recent rent collection, which was 90% for the quarter ended 30 June 2022. An agreement has since been reached with the incumbent tenant in seven of these homes (6.2% of June 2022 contractual rent) whereby they will remain in place as a tenant and operator. The full settlement of outstanding rental arrears to 30 June 2022 has been received, resulting in the rent collection for the quarter ended 30 June 2022 increasing to 94% from 90%, and for the quarter ended 31 March 2022 increasing to 95% from 92%, reflecting the previous receipt of partial rental payments. Furthermore, all rent due in respect of the current quarter to September 2022 has been received, as has penalty interest in respect of all overdue rent. The tenant has reaffirmed their long-term commitment to the homes following the challenges presented by the COVID-19 pandemic and has pledged additional security from another company in the tenant's group. Scott Steven, Head of Asset Management of Target Fund Managers: "The commitments made by all parties during this process is strong evidence of the trading outlook for these assets, and of the overall demand for modern, ESG-compliant care home real estate from progressive, quality care providers. Underlying resident occupancy across our portfolio continues its steady recovery and reflects the long-term structural demand for care places in our homes. This is long-awaited from our tenants and while mindful of the inflationary and staffing headwinds they face, we are generally optimistic that trading improvements will continue in the coming months." |
Posted at 10/9/2021 10:42 by pipeline1 Very poor they didn't have a Primary Bid or standard corporate action in dealing accounts for the raise. Retail investors have been overlooked. |
Posted at 25/2/2021 12:05 by alter ego "Further to the Company's announcement on 12 February 2021, the Board of Target Healthcare REIT plc has carefully considered the strong level of support from investors during the marketing roadshow, along with the attractive investment pipeline sourced by the Investment Manager, and decided to increase the target size of the Initial Issue up to a maximum of £60 million." |
Posted at 01/4/2019 23:15 by mel53 Great piece of research. |
Posted at 27/6/2014 14:30 by skyship Hi Wirral - I have been alerted to these by David Stevenson's article in MoneyWeek of 30th May. He suggested an share price of 102p; an NAV of 96p and a yield of 5.8% estimated by Numis.I now see this, which I suspect presages a large placing at par - 100p. so will hold off for the moment; though I remain interested. ==================== Following the Company's successful launch in March 2013 and subsequent capital raises in June and October 2013, the Company has acquired a portfolio of 18care homes across England and Scotland which have a market value of over GBP87 million. Target Advisers LLP, the Company's Investment Adviser, is currently in advanced discussions, or has entered into exclusivity arrangements, in respect of a number of further acquisition opportunities in line with the Company's investment policy. If completed, these opportunities would result in the Company having invested all of its remaining available cash reserves and having drawn down substantially all of a proposed GBP30 million term loan and revolving credit facility. Your Board announces therefore that it is discussing, with its advisers, a proposal to raise additional equity. The Company has today published a circular to convene a general meeting to seek authority from shareholders of the Company to allot a further 50 million Ordinary Shares on a non pre-emptive basis under a placing and offer for subscription. Your Board believes that raising additional capital will allow the Investment Adviser to take advantage of the acquisition opportunities it has identified. Your Board also believes that it is in the best interests of the Company's shareholders to increase the size of the Company to spread the fixed costs over a wider asset base and to increase the market capitalisation and liquidity in the shares of the Company. If the Board and its advisers identify sufficient investor demand, the Company will publish a prospectus. The price at which the shares will be issued by the Company pursuant to these proposals will not be dilutive to the Company's existing shareholders. ==================== |
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