Investment Trusts

Target Healthcare REIT plc

THRL:LSE

Target Healthcare REIT plc

  • Price (GBX)79.80
  • Today's Change1.30 / 1.66%
  • Shares traded459.36k
  • 1 Year change5.42%
  • Beta0.5237
Data delayed at least 20 minutes, as of May 02 2024 15:06 BST.
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Profile data is unavailable for this security.

About the company

Target Healthcare REIT plc is a United Kingdom-based real estate investment company. The Company’s investment objective is to provide shareholders with an attractive level of income, together with the potential for capital and income growth, from investing in a diversified portfolio of freehold and long leasehold care homes that are let to care home operators; and other healthcare assets in the United Kingdom. Its portfolio comprised 97 properties let to 32 tenants. The Company invests in modern, purpose-built care homes that are let to tenants who demonstrate operational capabilities and a care ethos. Its portfolio includes Chawley Grove, Roden Hall, The Oaks, Chesterfield, Woodland View and The Manor. The Company invests in a portfolio of care homes, predominantly in the United Kingdom, which are let to care home operators on full repairing and insuring leases. Its investment manager and alternative investment fund manager is Target Fund Managers Limited.

  • Revenue in GBP (TTM)67.77m
  • Net income in GBP58.37m
  • Incorporated2019
  • Employees0.00
  • Location
    Target Healthcare REIT plcC/O Target Fund Managers LimitedGlendevon House, Castle Business ParkSTIRLING FK9 4TZUnited KingdomGBR
  • Phone+44 17 8684 5912
  • Websitehttps://www.targethealthcarereit.co.uk/
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Profile

Management group(s)Target Fund Managers Limited
AIC sectorProperty - UK Healthcare
ISINGB00BJGTLF51
Launch date07 Mar 2013
Share typeOrdinary Share
StructureInvestment Trust
Base currencyGBP

Objective

The Group pursues its objective by investing in a portfolio of care homes, predominantly in the UK, that are let to care home operators on full repairing and insuring leases that are subject to annual uplifts based on increases in the UK retail prices index (subject to caps and collars) or fixed uplifts. The Group is also able to generate up to 15% of its gross income, in any financial year, from non-rental revenue or profit related payments from care home operators under management contracts in addition to the rental income due under fully repairing and insuring leases.

Managed by

Kenneth MacKenzie, John Flannelly, Andrew Brown, Gordon Bland, Scott Steven, Donald Cameron

Management & contract fees

NAV up to and including GBP 500m, annual fee is 1.05%; Above GBP 500m and up to and including GBP 750m, fee is 0.95%; Above GBP 750m and up to and including GBP 1bn, fee is 0.85%; Above GBP 1bn and up to and including GBP 1.5bn, fee is 0.75%; Above GBP 1.5bn, fee is 0.65%. No performance fee. Contract is terminable on 24 months notice.

Peer analysis

CompanyRevenue (TTM)Net income (TTM)Market capEmployeesMarket Cap /
Employees
Helical PLC45.61m-174.84m257.20m28.00257.20m28.00
Home Reit PLC26.20m47.80m300.81m0.00300.81m0.00
Custodian Property Income Reit PLC44.68m-54.40m329.76m0.00329.76m0.00
CLS Holdings plc148.70m-249.80m331.44m118.00331.44m118.00
Picton Property Income Ltd53.49m-80.52m357.12m10.00357.12m10.00
Mountview Estates P.L.C.75.64m26.63m374.31m29.00374.31m29.00
PRS Reit PLC53.68m58.02m431.16m0.00431.16m0.00
Harworth Group PLC72.43m37.96m442.90m120.00442.90m120.00
Target Healthcare REIT PLC67.77m58.37m486.89m0.00486.89m0.00
Dar Global PLC287.84m66.44m528.84m207.00528.84m207.00
Globalworth Real Estate Investments Ltd205.58m-46.30m543.99m35.00543.99m35.00
Empiric Student Property PLC80.50m53.40m547.32m348.00547.32m348.00
Balanced Commercial Property Trust Ltd59.23m-26.07m550.72m0.00550.72m0.00
Data as of May 02 2024. Currency figures normalised to Target Healthcare REIT plc's reporting currency: UK Pound GBX

Institutional shareholders

33.13%Per cent of shares held by top holders
HolderShares% Held
Baillie Gifford & Co.as of 30 Jun 202325.36m4.09%
Premier Fund Managers Ltd.as of 30 Jun 202324.35m3.93%
Alder Investment Management Ltd.as of 30 Jun 202323.68m3.82%
Investec Wealth & Investment Ltd.as of 30 Jun 202323.39m3.77%
Valu-Trac Investment Management Ltd.as of 28 Mar 202420.73m3.34%
Schroder & Co. Ltd.as of 30 Jun 202319.75m3.19%
CCLA Investment Management Ltd.as of 30 Jun 202317.92m2.89%
Rathbones Investment Management Ltd.as of 30 Jun 202317.46m2.82%
West Yorkshire Pension Fundas of 31 Mar 202316.65m2.69%
Handelsbanken Wealth & Asset Management Ltd.as of 30 Jun 202316.22m2.62%
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Data from 31 Mar 2023 - 28 Mar 2024Source: FactSet Research Systems Inc.
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