(Alliance News) - Impact Healthcare REIT PLC said on Tuesday that net asset value rose quarter-on-quarter and its property value increased following a series of acquisitions.
In the quarter ended June 30, the company reported a quarterly net asset value rise to GBP299.9 million, or 104.67 pence per share, from GBP200.2 million, or 104.18p per share.
Impact said the value of its property portfolio rose 18% quarter-on-quarter to GBP271.6 million from GBP230.4 million. The company said the market value increase includes GBP35.9 million of completed acquisitions, GBP2.0 million invested in capital improvements in homes and a net value uplift of GBP3.3 million.
The firm declared a second quarter dividend of 1.54 pence per share, in line with the company's target of paying an annual dividend of 6.17p per share, 2.8% higher than last year.
Impact now has 3,924 operational beds across 79 residential care homes following the addition of eight properties to its portfolio during the quarter.
The company now owns the Kingston Court 74-bedroom care home in Carlisle, north west England and the 51-bedroom Birchlands nursing home in York, north east England.
Impact also added the Holmesley 52-bed care home in Devon, south west England and the 37-bed Old Prebendal home in Oxfordshire, south west England, to its property assets.
A portfolio of four care homes from operators Maria Mallaband and Countrywide Group with 270 operational beds was acquired by the company during the quarter.
In May, the company announced that it raised GBP100.0 million through an equity issue and in June, Impact was added to the FTSE EPRA/NAREIT Global Real Estate Index Series.
Chair Rupert Barclay said: "We are pleased to have made good progress in deploying the proceeds from our successful equity fundraise during the quarter while maintaining a disciplined approach to new investments. The group is continuing to make investments that are accretive to the overall property portfolio, continue to diversify our tenant and asset base and provide attractive, index-linked, long term sustainable income for our shareholders as well as the potential for income and capital growth.
"The investment manager continues to progress a strong identified pipeline of investment opportunities and asset management initiatives that will support our ability to deliver a growing dividend to shareholders while providing an environment in which our tenants can provide high quality care to their residents."
Shares in the company were flat at 113.00 pence each in London on Tuesday afternoon.
Impact Health (IHR)