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LONDON (Alliance News) - Impact Healthcare REIT PLC said Wednesday it saw a rise in both its net asset and portfolio value in the first quarter of 2019.
The healthcare-focused real estate investor reported its net asset value as at March 31 was GBP200.2 million, or 104.18 pence per share, up from GBP197.8 million, or 103.18p, at the end of December.
The portfolio value rose by 2.9% to GBP230.4 million over the quarter from GBP223.8 million at the end of 2018, comprising 73 residential care homes let to six tenants, with a weighted average unexpired lease term of 19.4 years.
The portfolio has an annualised contract rent roll of GBP18.1 million compared to GBP17.8 million the prior quarter due to inflation-linked rent reviews.
Impact Healthcare declared a quarterly dividend of 1.5425 pence per share, and reiterated its full-year dividend target of 6.17p.
"The group is continuing to exercise a disciplined, value-led and patient approach to capital deployment, which is driving attractive, growing and secure long-term income and capital returns for our shareholders, while helping to deliver stability and high quality care to residents and a commitment to enhance their homes wherever possible," said Chair Rupert Barclay.
"The group continues to add additional attractive assets to our portfolio which we expect will deliver growth in income alongside capital appreciation from asset management opportunities," Barclay added.
Shares in Impact Healthcare were down 0.5% at 107.42 pence on Wednesday.