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 completed its GBP160.0 million initial public offering in March last year and by the end of June 2017 it had invested GBP152.1 million in acquisitions.
Shares in Impact Healthcare were trading 1.1% higher at 104.66p per share on Friday.
The net asset value at the end of March was GBP194.3 million, or 101.07p per share, up from GBP193.5 million, or 100.65p per share as at the end of December.
The portfolio value rose 6.3% to GBP166.0 million in the first quarter. On a like-for-like basis, it was up 1.2%. Annualised rent from the portfolio grew quarter-on-quarter to GBP12.9 million from GBP11.9 million.
The portfolio has 60 residential care homes with 2,652 beds, with leases of 19.2 years with no tenant break right, and subject only to upward-only rent reviews linked to the retail price index, with a floor of 2% per year and a cap of 4% per year.
"The group remains well positioned to deliver to our shareholders attractive, secure long-let income with the potential for growth and capital appreciation from a high quality portfolio including identified active asset management opportunities," said Chairman Rupert Barclay.
"The group continues to pursue a strong pipeline of new investments that are in line with our investment criteria and returns profile," Barclay added.
Impact Health (IHR)