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Pin to quick picksImpact Health Share News (IHR)

Share Price Information for Impact Health (IHR)

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Share Price: 88.20
Bid: 88.00
Ask: 88.30
Change: 1.00 (1.15%)
Spread: 0.30 (0.341%)
Open: 87.80
High: 88.90
Low: 87.50
Prev. Close: 87.20
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Impact Healthcare REIT is an Investment Trust

To seek to provide Shareholders with an attractive return, principally in the form of quarterly income distributions and with the potential for capital and income growth through exposure to a diversified portfolio of Healthcare Real Estate Assets.

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Impact Healthcare buys new interest rate cap; 92% of debt now hedged

Fri, 18th Aug 2023 08:39

(Alliance News) - Impact Healthcare REIT PLC on Friday said it has increased its protection against interest rate changes, with 92% of drawn debt now hedged.

The London-based owner of care homes and other healthcare properties in the UK said it bought a new GBP50 million interest rate cap at a cost of GBP1.8 million. This caps the sterling overnight index average at 4.0% for two years, expiring on August 15, 2025.

Impact Healthcare has now hedged or fixed the interest rates on GBP175 million, or 92%, of its current drawn debt of GBP191 million.

The company said the weighted average cost of drawn debt is 4.66% based on SONIA of 5.4%. At current hedging and drawn debt levels, an increase of 50 basis points in SONIA will result in a 4 basis point increase in the weighted average cost of drawn debt, it said.

Impact Healthcare's gross loan to value ratio at June 30 was 28.5%. No further debt has been drawn as of Friday, the company said.

Shares in Impact Healthcare were down 1.4% to 85.20 pence each in London on Friday morning.

On Wednesday last week, Impact Healthcare said first half revenue rose, as it hiked its interim dividend.

It reported net rental income of GBP22.7 million in the first half of 2023, up from GBP19.6 million a year ago. The increase in revenue was supported by rent increases and stable rent yields, the company said. The firm posted pretax profit of GBP27.6 million, increasing from GBP27.3 million a year ago.

Impact said net asset value per share at June 30 was 113.64 pence, down from 116.18p a year ago, but increasing 3.2% from 110.17p six months ago. The firm said this reflects shares issued to part fund its acquisition of six care homes.

The firm declared a second-quarter dividend of 1.69 per share, bringing its total interim dividend to 3.39p per share, which it said is in line with its target to increase its total dividend by 3.5% to 6.77p per share for the full-year.

By Greg Rosenvinge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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6 Nov 2018 10:39

Impact Healthcare REIT Buys 40-Bed Care Home In County Durham

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2 Nov 2018 10:55

Impact Healthcare acquires two new care homes in Glasgow

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Impact Healthcare REIT Buys 2 Care Homes In Scotland For GBP12 Million

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Impact Healthcare eyes £150m fundraiser

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Impact Healthcare To Meet Shareholders Over Proposed Cash Raise (ALLISS)

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23 Oct 2018 09:56

Impact Healthcare REIT Net Asset Value Rises In Third Quarter

LONDON (Alliance News) - Impact Healthcare REIT PLC said on Tuesday it saw a rise in net asset value and its portfolio value in the third quarter of its financial year.For the three months

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21 Sep 2018 11:23

Impact Healthcare REIT Buys Care Home For GBP3 Million

LONDON (Alliance News) - Impact Healthcare REIT PLC said Friday that it bought Yew Tree care centre from Monarch Alternative Capital LP for GBP2.8 million.The real estate investment trust a

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9 Aug 2018 11:34

Impact Healthcare Outperforms Benchmark In First Half-Year Since IPO

LONDON (Alliance News) - Impact Healthcare REIT PLC said Thursday it increased its net asset value per share in its first full six month period to the end of June.For the six months to June

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6 Aug 2018 11:35

Impact Healthcare Exchanges Contracts For Five Manchester Care Homes

LONDON (Alliance News) - Impact Healthcare REIT PLC said Monday it will acquire five Newcastle care homes from Monarch Alternative Capital LP.The real estate investment trust has exchanged

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18 Jun 2018 12:10

Impact Healthcare Signs GBP50 Million Loan Facility

LONDON (Alliance News) - Impact Healthcare REIT PLC said Monday it has signed a GBP50 million five-year loan facility with Metro Bank PLC.The real estate investment trust, which invests in

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23 May 2018 14:46

Impact Healthcare Buys Two Dementia Care Homes For GBP8 Million

LONDON (Alliance News) - Impact Healthcare REIT PLC on Wednesday said it purchased two care homes with a total of 138 beds for GBP8.3 million from Alpha Care Management Services Ltd.The the

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27 Apr 2018 13:16

Impact Healthcare Reports Rise In Quarterly Net Asset Value

LONDON (Alliance News) - Impact Healthcare REIT PLC on Friday reported a rise in first quarter net asset value and declared an unchanged interim dividend of 1.50 pence per share.The trust a

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26 Mar 2018 15:46

Impact Healthcare REIT Buys Bristol Care Home For GBP4.9 Million

LONDON (Alliance News) - Impact Healthcare REIT PLC said on Monday it has acquired, in a sale and leaseback transaction, a care home in Bristol for home a

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21 Mar 2018 15:13

Impact Healthcare REIT Posts GBP9 Million Pretax Profit

LONDON (Alliance News) - Impact Healthcare REIT PLC on Wednesday reported pretax profit of GBP9.4 million for the period from since inception, November 7, 2016,

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