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 Shares Traded Last Trade
  -0.80 -0.69% 115.80 45,867 13:01:58
Bid Price Offer Price High Price Low Price Open Price
115.60 116.20 117.20 115.80 117.20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 36.05 22.25 5.05 22.9 592
Last Trade Time Trade Type Trade Size Trade Price Currency
13:01:58 AT 37 115.80 GBX

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Date Time Title Posts
05/3/202116:49Target Healthcare61

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Target Healthcare Reit Daily Update: Target Healthcare Reit Plc is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker THRL. The last closing price for Target Healthcare Reit was 116.60p.
Target Healthcare Reit Plc has a 4 week average price of 112p and a 12 week average price of 109p.
The 1 year high share price is 118.40p while the 1 year low share price is currently 90.10p.
There are currently 511,541,694 shares in issue and the average daily traded volume is 780,145 shares. The market capitalisation of Target Healthcare Reit Plc is £592,365,281.65.
cwa1: Lengthy piece in The IC today. They rate it a buy. Apologies for the formatting but hope you get the gist:- Can healthy dividends continue? The target annual dividend for the 2021 financial year, which is paid in quarterly instalments, stands at 6.72p a share, up from 6.68p for 2020. At the current share price, that equates to a potential yield of just over 6 per cent. However, the security of those payments has become less certain following the pandemic. Provisions for rent arrears made during the last financial year meant coverage of the dividend by EPRA earnings dropped to 76 per cent, down on 82 per cent during the prior two years. However, if occupancy levelsrecover as we emerge from lockdown, there is every chance that dividend cover will improve. Over the longer term, there is reason to be bullish towards the shares. The value of the assets in Target Healthcare’s portfolio have continued to rise, which, together with annual contracted rent increases, has resulted in the Reit’s net asset value (NAV) moving marginally upwards to around 108p a share at the end of December. Demographic changes are also supportive of increased need for elderly care accommodation, with the number of people aged 85-plus forecast to double over the next 20 years, according to the Office for National Statistics. The shares trade broadly in line with forecast NAV at the end of June and at a 5 per cent discount to a forecast 117p at the same time in 2022. That seems an undemanding valuation when the strength of the balance sheet, strong rental growth track record and rising asset valuations are considered. Indeed, in the year prior to the pandemic the shares commanded an average premium to forecast next-12-month NAV of 4 per cent PS: It is taken from the online PDF magazine. Is there a simple way to format it to make it look on here?
fez77: I see THRL are at 112.3 which is unspectacular but not discouraging. I'm still holding off at the moment. Apollocreed - I haven't ventured into GCP either yet. Keeping an eye on future IPOs. Brewdog is coming - but not sure if PrimaryBid are involved.
bathcoup: Thought this is THRL thread! Anyway, I have dipped my toes in THRL by subscribing 5,000 shares.
apollocreed1: Re GCP Infrastructure, it's a very secure 7% dividend yield at about 1% premium to its 102p NAV. They provide secured loans for renewables (60%) social housing (25%) and Infrastructure like roads (15%). A lot of their income streams are government backed and nearly all inflation linked. They do not have the risk of managing the infrastructure assets-they just collect payments as a secured creditor. They have traded in the past at 120-130p so I think this is a very good price. Price weakness is because they had some loan repayments in December and reinvesting the money is a challenge because so much money is competing for renewables so yields have been pushed down. However GCP is one of the best companies in the sector and the team has more experience than all the new upstarts. Including dividends they've returned 110% over 10 years with very low volatility.
apollocreed1: @Fez77-I noticed today that I could buy GCP Infrastructure Investments at 103p on a 7% inflation linked yield which I think is much more secure than THRL. I was also surprised that THRL only collected 91% of the last quarters rent -many of the office and retail companies like RGL,EPIC and AEWU have had around 91% collection rates, but I would have expected THRL to have much less risk of defaults. So now I have a suspicion that maybe this capital being raised is to deal with cash flow issues and not for expansion as they actually state in their RNS.
fez77: I've been studying the IPOs and Subscriptions on PrimaryBid and have noted that with some exceptions (like TGR, NGHT, and IDEA), the share price tends to stay around the offer price for some time after the new share release. The recent IPO - Cellular Goods - will probably show a premium because it was well oversubscribed (and well "hyped" being a Cannabis type stock and therefore "flavour" of the month!)but I suspect that THRL will be available for some time at or around the 111p-113p mark. I will be keeping my powder dry on this one for the present time.
cwa1: I see that the THRL offer is now available on PrimaryBid as well
ec2: New shares are being issued at 2.6% premium over NAV so this is marginally positive for the share price. Reason for the slight drop in current share price is mainly due to your second point. I have indeed sold some of my holding this morning (10000shs @ 112.4p in order to buy back plus a few more in the offer at 111p. If you are going to do this only sell a small part of your holding as you would not wish to end up with less than you started with due to scaling back.
paulwannaretire: Hi all, Hoping you can help, I haven't been in this situation before. I take it that the share dilution will inevitably lead to a slight drop in price. I guess this will already be priced in? Now that the offering has been announced, would applying for additional shares @111p and then selling your existing holding at 113p or is this sneaky move not permitted? Thanks
alter ego: saltaire111, I think the offer for subscription includes us given this definition "An offer for subscription is a type of corporate action. Like a rights issue or open offer, it allows shareholders to buy additional shares, usually at a fixed price. However, unlike a rights issue or open offer, you aren't offered shares in proportion to the number you already own."
Target Healthcare Reit share price data is direct from the London Stock Exchange
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