RNS. Update & Dividend
NAV down, but to be expected. Good to see Dividend kept, did think they might cut it. |
I think shares outstanding have doubled since 2017, something to keep in mind but this does look an interesting investment. |
I haven't sold my original amount. Might add more, if when I get funds...
These are a victim of desperate funds selling up, for client redemptions |
Very heap indeed, igoe104. So have bought back in. There should be an update shortly - with the dividend announcement perhaps. |
These are looking extremely cheap, over 27% discount to the Nav. |
This should be good for the sector. |
Topped up at 75.70, excellent value here on a low ltv |
 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%…. |
Inflation, energy and running costs all rising substantially however the business model seems robust and share price fall overdone imho. Am I missing something? |
Hold in an ISA. It's on my list for future selling as/when I need cash to buy something else in a different sector. |
At today's AGM. As usual, for a REIT, only ordinary shareholder there and no presentation. In a Q/A, Manager/Board confirmed the following [a] gearing at 20% (which they think is low), [b] nearly every property has an EPC rating in the A-C range so little "money" needed to bring the rest up-to-standard), [c] the current bank loan lasts until 2025, [d[ although rents are inflation linked nearly all have a cap of between 1 and 4 percent, [e] since financial year end there have been no buys and one sale in August (but nobody could remember where it was located), [f] do not do buy-backs. When asked to compare themselves with Impact Healthcare (their only competitor in the PDUHC sector), they agreed IH's share price performance was slightly better and it had a better dividend yield, but put this down to IH having "older/used" properties (which Target had looked at but rejected), which still needed improving to obtain an A-C EPC. |
1.69p Dividend
Ex-Dividend Date: 10 November 2022
Record Date: 11 November 2022
Payment Date: 25 November 2022 |
Dividend coming soon, though I haven't seen any xd dates yet. IMO this will rise steadily and stabilise somewhere between 100 -110. Easy money and a attractive yield until it does. |
Exactly that. Similar dynamics in open ended property funds when withdrawals increase suddenly. |
Moving nicely today. Looking very over sold. Is this the day the worm turns?? |
From Simply Wall Street :-
"Consensus forecasts updated
The consensus outlook for 2023 has been updated.
• 2023 EPS estimate fell from UK£0.11 to UK£0.07 per share.
• Revenue forecast steady at UK£68.2m.
• Net income forecast to shrink 72% next year vs 23% decline forecast for REITs industry in the United Kingdom.
• Consensus price target down from UK£1.09 to UK£1.04.
• Share price was steady at UK£0.78 over the past week." |
Rob the slob,
True, just assumed the issue/point being raised was there maybe Pension Funds that held THRL in their funds. Hence selling their THRL holdings along with other assets to raise liquidity. |
THRL is a closed end investment trust not an open end direct property unit trust so won't be affected by "redemptions" by the pension funds seeking to raise cash to cover their bad gilt derivative investments. |
Got this from the LSE BB
Berenberg cuts Target Healthcare REIT target to 90 (110) pence - 'hold'
Jimbobbaby, you’re probably right on the matter of redemption issues. Difficult to know when that will shake it self out. |
Property fundswith large direct property holdings, have probably had to sell liquid assets for redemptions - putting more immediate price pressure on their listed holdings. I imagine a lot of pension funds were similarly forced sellers. |
Hard to believe it we went from yesterday 84p to 78p ish, but there you have it. Added a few more today. |
Yes it's possibly BlackRock still selling down part of their holding here. Would be good to know when they have finished! |
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