Share Name Share Symbol Market Type Share ISIN Share Description
Target Healthcare Reit Plc LSE:THRL London Ordinary Share GB00BJGTLF51 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  3.60 3.36% 110.60 110.20 110.60 110.80 106.00 107.60 605,037 16:12:07
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 36.0 22.2 5.1 21.9 506

Target Healthcare Reit Share Discussion Threads

Showing 26 to 49 of 50 messages
Chat Pages: 2  1
Nice rebound of late. Thoroughly merited IMH and biased O :-) Anyone else interested in these?
And now a few more at 102p. Groan :-(
Thought the recent results were satisfactory enough, so the drift off has tempted me to buy a few more in the 104's. IF the yield is sustainable, and I believe it is, it should be a decent medium termer IMHO.
Super results. Didn’t expect an increased divi this time, so that was a bit of upside. Salty
Drifted off a smidgeon of late so decided to hop on board with a few. Not a "bet the farm" job-just looks reasonable value with a good, hopefully sustainable, yield unless the world caves in( which it might well do!). Good fortune to one and all here.
Unusually wide spread in these today and not sure why. Are there any ideas?
So this has fallen again. Does the market really think that people will avoid care homes? Or maybe that too many paying guests have/will die?! This is an interesting article: So about 18,000 have died over last couple of months (from probably covid), out of an estimated 411,000 population, with deaths falling now, this may rise to maybe 28,000 or 6.8% over maybe 5 months. Not great but shouldn't cause quality care home providers to go bust and if anything there may be a flight to quality.
No nasty surprises in today's quarterly update. LTV of only 18%. Government's recent announcement to recruit and pay for training of tens of thousands of additional care workers is also a positive step for the industry. With the shares paying a secure index linked 6.3% these are worth keeping for their long term dependability. We will always need care homes and they are at last receiving the recognition they deserve.
very well timed EC2. IHR still not recovered anywhere near the same extent. Been loading up there. Can't think of many safer places to be at present than a sector which isn't likely to get impacted by covid.
horndean eagle
Today's half year numbers look fine. Coronavirus is not going to stop elderly using care homes so the business should remain intact. Deployment of the recent cash call may be slower but I can't see a major long term impact. Based on latest NAV announced the shares are currently trading at over 35% discount. Div is only 75% covered until the cash call deployed but shares are currently on near 10% yield so even if the div temporarily reduced there will still be a decent yield. Picked up good size position today at 67.5p.
I've held these to a varying extent for around 5 years and they've basically done what it says on the tin. The yield is good, they add a further element of diversification to my REIT holdings (away from the normal industrial, office, retail and warehousing) and are a play on the ageing population theme. I may reduce if the share price goes above 118p but at the current level they form a useful element within my portfolio. What would you replace them with?
The number of shares and capital raised in the last few years has been quite significant. Correspondingly, portfolio value has increased 30% vs prior year in each of the last 2 years (see 2019 anual report p3). Yet, NAV and dividends per share have increased "just" 2% (probably more to do with rent revisions than by the external growth). The company might be diversifying, but in light of the results for shareholders, is growing so much necessary? (I know the investment manager likes the increased fees, but at some point we may get a bad deal) It was already mentioned, but it seems there is still some work to as to the quality of care delivered by tenants? Inadequate service rating (the worst) as per CQC was received by 6% of THC portfolio vs 2% national average (2019 annual report). I am considering if the share price increase of recent months might be a good time to sell...
Another placing at 6% discount. PIs don’t get to participate. Salty
Anybody got the divi for this? Tia
Great piece of research.
Excellent set of results. What an under rated company this is. Salty
Yes, very well researched and informative indeed. I am a holder, but consider switching some or all of my holding into the forthcoming PHP offer.
Thanks for sharing your research Erstwhile. A very interesting post.
I researched this one. On the face of it it stands up as a nice index linked income steam from a REIT with low gearing. But the risk lies with the credit quality of the tenant-operators, rather than the vale of the homes. Take Ideal Care Homes (operator of 40% of THRL's assets at launch). 100% owned by, and with rental steams to THRL guaranteed by, its ultimate parent LNT Group Limited. LNT is owned by a serial entrepreneur (tomlinson) in the care construction and operation industry. > 10 of 16 ICH homes have substandard CQC rating at last inspection > LNT himself has removed himself from the board of ICH last year for some reason > Which? Rated ICH as the country's worst care home operator > ICH while moving into profit recently is clearly exposed on regulatory, brexit staff, minimum wage etc issues > Supposedly 35 year index linked tenancies. Thats massive duration risk for a thinly capitalised operator who will just walk away if rates/inflation just break them. Watch out for LNT depleting it's own asset base so the guarantee has little asset backing It looked horrible the more I got into it. If an operator goes bust, whats the value of the home then? Who steps in? etc etc. Sure THRL is a REIT with asset backing. Sure, demand for care is rising indefinitely. But the supply of care may have a significantly higher cost base in future. I remember schemes where investors put up the equity to leverage into commercial property which was Jarvis' HQ. Jarvis went bust. The property with no tenant was worth significantly less than the leverage and investors loss was total. Here, THRL isn't leveraged much, so it wont go to 0 if operators go bust, but the yield on this doesn't compensate properly for operator risk
A couple of big institutional holders do not appear to have supported the latest raise....
Not sure why the big upsurge in price here, but I'm not complaining!? NAV went up 1.7% in last week's RNS, but is still only 98p, so the company sits on a large premium. That said, they are a quality operator, in a niche and growing sector and offer a 5.4% yield even at today's price. And that yield is set to outpace inflation (6.4p forecast for 2017), so offers protection against rising interest rates. Ex-divi later this week for 1.53p. A long term hold for me.
Big volume of buys this week probably caused by last weeks recomendations in Moneyweek and the IC and the first tick up.I guess there must be a lot of stock available.
I saw REITs suggested as an alternative to bonds and equities for those concerned about valuations in those areas. This is one of a few I'm looking at. These REITs don't seem as conservatively managed as I'd expect - one consistently pays out more than earnings, and this one has said: Following the addition of these properties the Company has now invested all of its existing equity and has drawn down substantially all of a £30 million term loan and revolving credit facility. That seems surprising to me; perhaps they had to strike while the iron was hot. The next week or two should be interesting.
Yes, many of us have enjoyed ACD...the search is on for a replacement as perhaps we are now into the last 6months of life there, unless one opts for the Continuation of course. Likewise, have a good weekend - though for me, being retired, life is one long weekend holiday!
Chat Pages: 2  1
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