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
  -0.40 -0.35% 115.20 1,680,464 16:35:01
Bid Price Offer Price High Price Low Price Open Price
115.40 116.40 116.60 114.80 115.60
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 36.05 22.25 5.05 22.8 527
Last Trade Time Trade Type Trade Size Trade Price Currency
17:34:47 O 36 115.20 GBX

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Date Time Title Posts
09/11/202012:47Target Healthcare31

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Target Healthcare Reit (THRL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-01-22 17:38:34115.203641.47O
2021-01-22 17:07:50115.213,2813,779.91O
2021-01-22 17:07:16116.40150,000174,600.00O
2021-01-22 17:04:48115.768,0009,260.64O
2021-01-22 16:38:38115.4043,03649,663.54O
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Target Healthcare Reit (THRL) Top Chat Posts

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 115.60p.
Target Healthcare Reit Plc has a 4 week average price of 112.60p and a 12 week average price of 104.80p.
The 1 year high share price is 124.50p while the 1 year low share price is currently 65.60p.
There are currently 457,487,640 shares in issue and the average daily traded volume is 407,744 shares. The market capitalisation of Target Healthcare Reit Plc is £527,025,761.28.
cwa1: Solid and reassuring update:-
vnvd: 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...
erstwhile2: 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
wirralowl: 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.
wirralowl: Hi Sky! Blimey another poster LOL! Yeah, I'm not particularly comfortable with the premium to NAV either and like you suspect they'll raise at around the original launch price. I've a small holding tucked away in my SIPP and will probably add to my holding if we get the chance to participate. By the way, I should thank you for originally drawing my attention to ACD. I initially bought around 80p and added up to £1, so its been a great investment for me. Have a good weekend.
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. ================================================
Target Healthcare Reit share price data is direct from the London Stock Exchange
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