Care REIT - Q4 trading update and increased DPS target

In its Q424 trading update, Care REIT (Care), formerly Impact Healthcare REIT, announced an increased dividend target of 7.20p for 2025, a 3.6% increase on 2024, fully covered by adjusted 'cash earnings'. The increased target reflects the company's expectations for continuing growth in cash earnings, supported by rental uplifts and recent accretive acquisitions, and underpinned by a strong tenant performance. With tenants benefiting from strong occupancy and fee growth, rent cover in the quarter was maintained at a record high level of 2.3x. The Q4 performance appears consistent with our forecasts, and we have made no changes. The Q4 NAV will be published with the full-year results in March.

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