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EQS-News: Edison Investment Research Limited / Key word(s): Research Update Edison Investment Research Limited: Edison issues update on Target Healthcare REIT (THRL) 28-Apr-2017 / 12:10 GMT/BST London, UK, 28 April 2017 *Edison issues update on Target Healthcare REIT (THRL)* Target Healthcare REIT (Target) continues to approach full investment, having completed the acquisitions of four care homes in the quarter to 31 March and one more in April. Portfolio value stood at GBP274.6m at the quarter-end (31 December: GBP253.1m). The Q217 dividend was the main cause of a slight decrease in EPRA NAV per share to 101.5p (31 December: 101.8p); we expect full dividend cover to be achieved in FY18 as the company becomes fully invested. The secular trends of an ageing population and a persistent lack of modern care homes create a significant opportunity for further investment to underpin the attractive dividend yield. Target has the longest leases in its sector, inexpensive debt, low LTV and a prospective yield of 5.4% (FTSE EPRA NAREIT index 3.4%). We expect its growing portfolio of income streams to cover the attractive dividend fully in FY18, and Target's shares have performed well in recent weeks as it approaches full investment. The 14% premium to the last reported EPRA NAV may continue to converge with other long-lease healthcare property investors (averaging c 21%) as that process continues. Click here [1] to view the full report. All reports published by Edison are available to download free of charge from its website www.edisoninvestmentresearch.com [2] *About Edison:* Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting. Edison is authorised and regulated by the Financial Conduct Authority [3]. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. *Contact details:*Learn more at www.edisongroup.com [4] and connect with Edison on: +--------+-----------------------------------------------------------+ |LinkedIn|https://www.linkedin.com/company/edison-investment-research| | |[5] | +--------+-----------------------------------------------------------+ |Twitter |www.twitter.com/Edison_Inv_Res [6] | +--------+-----------------------------------------------------------+ |YouTube |www.youtube.com/edisonitv [7] | +--------+-----------------------------------------------------------+ Dissemination of a UK FINANCIAL NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. End of Announcement - EQS News Service 568805 28-Apr-2017 1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=c861c53c12f838d9db08fe6fe06176cc&application_id=568805&site_id=vwd&application_name=news 2: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=e7266211cbf0b72f2b3d94ab8bdaae97&application_id=568805&site_id=vwd&application_name=news 3: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=105fe9be9b5e36892886e5a39d51d4b7&application_id=568805&site_id=vwd&application_name=news 4: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=88c95533002fab2316572f9ef6cf3cc6&application_id=568805&site_id=vwd&application_name=news 5: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=270eac8c8f1b87a6a90ebfd8faf2c3f7&application_id=568805&site_id=vwd&application_name=news 6: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=ec2d264fe4f303e2143a2e85c6eaa823&application_id=568805&site_id=vwd&application_name=news 7: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=6b959e4d7ee3c402b931a274d2bbe945&application_id=568805&site_id=vwd&application_name=news
(END) Dow Jones Newswires
April 28, 2017 07:11 ET (11:11 GMT)
