Target Healthcare posted results for the year ended 30 June 2019. NAV total return was 8.1% vs 10.5% for last year and IFRS profit for the year increased by 8.2% to £29.9m. EPRA adjusted EPS was down 1.6% to 5.45p, primarily due to dilution from equity issuance and change in management fee arrangements.
As of year-end, Target Healthcare’s portfolio comprised 63 assets with a value of £500.9m, a 29.9% increase compared to last year. Overall, Target has entered into agreements to acquire nine assets with total commitment of £96m. Du
The company has also adopted a progressive dividend policy with a 2% increase in dividend to 6.579p for 2019 and a 1.5% increase proposed for 2020. Malcolm Naish, Chairman of the company, said: “Despite prospects for the macro environment being more bearish than a year ago, with its diversified portfolio and a capital structure which allows flexible funding routes, the Group remains well-placed to deliver on its strategy.”