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About the company
Target Healthcare REIT plc is a United Kingdom-based real estate investment trust. 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 (UK). Its portfolio is designed to provide stable income returns from a diversified group of tenants and rental levels, which are sustainable over the long term. Its portfolio comprises of approximately 77 assets: over 73 operational care homes and approximately four development sites. The Company’s investment manager and alternative investment fund manager is Target Fund Managers Limited.
- Revenue in GBP (TTM)63.86m
- Net income in GBP49.10m
- Incorporated2019
- Employees0.00
- LocationTarget Healthcare REIT plcLaurel House, Laurelhill Business ParkSTIRLING FK7 9JQUnited KingdomGBR
- Phone+44 178 684 5912
- Websitehttps://www.targethealthcarereit.co.uk/
Profile
| Management group(s) | Target Fund Managers Limited |
|---|---|
| AIC sector | Property - UK Healthcare |
| ISIN | GB00BJGTLF51 |
| Launch date | 07 Mar 2013 |
| Share type | Ordinary Share |
| Structure | Investment Trust |
| Base currency | GBP |
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
- Key Information
- Stock Performance
- Per Share Data
- Efficiency
- Management Effectiveness
- Profitability
- Financial Strength
- Growth Rates
| Company | Revenue (TTM) | Net income (TTM) | Market cap | Employees | Price/earnings (TTM) | Price/book value (MRQ) | Price/cash flow (TTM) | Price/sales (TTM) | EPS (excl. extraordinary items, TTM) | EPS (incl. extraordinary items, TTM) | Revenue per share (TTM) | Book value per share (MRQ) | Asset turnover (TTM) | Inventory turnover (TTM) | Receivables turnover (TTM) | Revenues per employee (TTM) | Return on avg assets (TTM) | Return on avg assets (5 yr avg) | Return on investment (TTM) | Return on investment (5 yr avg) | Gross margin (TTM) | Gross margin (5 yr avg) | Net profit margin (TTM) | Net Profit margin (5 yr avg) | Quick ratio (MRQ) | Interest coverage (TTM) | Total debt to capital (MRQ) | Payout ratio (5 yr avg) | Revenue (YOY change %) | Revenue (5 yr growth rate) | Net income (YOY change %) | Net income (5 yr growth rate) | Capital expenditure (5 yr growth rate) | Dividend (5 yr growth rate) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LSL Property Services plc | 321.25m | 45.25m | 272.43m | 4.08k | 6.04 | 1.30 | 4.45 | 0.8481 | 0.4334 | 0.4334 | 3.09 | 2.01 | 1.06 | -- | 8.21 | 78,813.79 | 14.95 | 10.06 | 20.27 | 13.88 | -- | -- | 14.07 | 9.25 | -- | 9.11 | 0.1086 | 27.19 | 22.53 | 1.21 | 279.40 | 4.17 | 2.62 | 2.05 |
| Newriver Reit PLC | 73.20m | 27.70m | 281.88m | 49.00 | 10.10 | 0.6903 | 9.82 | 3.85 | 0.0899 | 0.0889 | 0.2368 | 1.32 | 0.0895 | -- | 16.83 | 1,493,878.00 | 3.39 | -3.59 | 3.55 | -3.76 | 65.98 | 66.36 | 37.84 | -42.25 | -- | 4.16 | 0.4767 | -- | 0.8208 | -5.17 | 105.73 | -28.01 | -4.24 | -17.92 |
| Home Reit PLC | 26.20m | 47.80m | 300.81m | 0.00 | 2.97 | 0.3423 | -- | 11.48 | 0.1281 | 0.1281 | 0.0757 | 1.11 | 0.0419 | -- | 6.87 | -- | 7.64 | -- | 7.73 | -- | 87.29 | -- | 182.46 | -- | -- | -- | 0.2826 | -- | -- | -- | -- | -- | -- | -- |
| Regional REIT Ltd | 59.40m | 39.00m | 305.83m | 0.00 | 7.72 | 0.5957 | -- | 5.15 | 0.0768 | 0.0768 | 0.1184 | 0.9954 | 0.0634 | -- | 1.89 | -- | 4.16 | 2.86 | 4.42 | 3.04 | 91.15 | 90.61 | 65.65 | 44.91 | -- | 5.03 | 0.4668 | 106.95 | 4.78 | 7.92 | 192.77 | 16.47 | -- | -3.74 |
| Civitas Social Housing PLC | 53.72m | 69.54m | 329.27m | 0.00 | 4.78 | 0.4854 | -- | 6.13 | 0.1135 | 0.1135 | 0.0876 | 1.12 | 0.0513 | -- | 4.81 | -- | 6.64 | -- | 6.71 | -- | 97.13 | -- | 129.46 | -- | -- | -- | 0.3361 | -- | 5.34 | -- | 24.06 | -- | -- | -- |
| Harworth Group PLC | 153.60m | 116.67m | 387.67m | 85.00 | 3.36 | 0.591 | 3.32 | 2.52 | 0.357 | 0.357 | 0.4696 | 2.03 | 0.1843 | 0.5388 | 2.54 | 1,807,012.00 | 14.00 | 7.77 | 15.44 | 8.66 | 37.86 | 32.16 | 75.96 | 57.69 | 1.25 | -- | 0.1399 | 7.10 | 56.97 | 26.67 | 264.36 | 18.69 | 5.06 | 9.99 |
| Custodian Property Income Reit PLC | 42.04m | 60.17m | 412.20m | 0.00 | 6.78 | 0.822 | 6.85 | 9.81 | 0.138 | 0.138 | 0.0958 | 1.14 | 0.0644 | -- | 7.47 | -- | 9.22 | 6.51 | 9.47 | 6.71 | 86.88 | 91.02 | 143.14 | 94.42 | -- | -- | 0.2605 | 65.64 | 0.7908 | 7.64 | 3,162.87 | 38.27 | -- | -3.73 |
| Picton Property Income Ltd | 48.99m | 82.65m | 439.73m | 9.00 | 5.32 | 0.688 | 5.31 | 8.98 | 0.1509 | 0.1509 | 0.0896 | 1.17 | 0.0593 | -- | 1.94 | 5,443,111.00 | 10.00 | 8.23 | 10.25 | 8.48 | 73.29 | 77.26 | 168.71 | 128.60 | -- | -- | 0.2621 | 30.16 | 7.41 | -3.07 | 334.86 | 28.02 | -- | -- |
| Helical PLC | 42.35m | 83.93m | 441.61m | 28.00 | 5.33 | 0.6375 | 5.21 | 10.43 | 0.6715 | 0.6715 | 0.3404 | 5.62 | 0.0423 | 1.68 | 1.28 | 1,512,321.00 | 8.38 | 4.02 | 8.66 | 4.30 | 95.72 | 50.10 | 198.21 | 69.10 | 2.66 | -- | 0.2673 | 27.87 | 43.98 | -15.58 | 397.25 | 17.84 | -31.23 | 5.33 |
| Mountview Estates plc | 72.49m | 30.32m | 460.08m | 29.00 | 15.18 | 1.15 | 15.15 | 6.35 | 7.78 | 7.78 | 18.59 | 102.20 | 0.1684 | 0.0706 | 48.62 | 2,499,690.00 | 7.04 | 6.88 | 7.12 | 7.00 | 60.96 | 63.07 | 41.82 | 43.32 | 0.789 | 4,162.56 | 0.0672 | 63.68 | 0.426 | -3.34 | -12.98 | -5.79 | -- | 9.63 |
| PRS Reit PLC | 41.96m | 115.89m | 488.28m | 0.00 | 4.14 | 0.7639 | -- | 11.64 | 0.2148 | 0.2148 | 0.0784 | 1.16 | 0.0444 | -- | 41.78 | -- | 12.26 | -- | 14.23 | -- | 81.81 | -- | 276.17 | -- | -- | -- | 0.3516 | -- | 57.54 | -- | 162.71 | -- | -- | -- |
| Target Healthcare REIT Ltd | 63.86m | 49.10m | 516.04m | 0.00 | 10.22 | 0.7385 | -- | 8.08 | 0.0814 | 0.0814 | 0.1066 | 1.13 | 0.0759 | -- | 68.63 | -- | 5.84 | 6.09 | 6.00 | 6.23 | 58.24 | 99.88 | 76.88 | 82.49 | -- | 47.68 | 0.2488 | 81.66 | 27.77 | 22.07 | 11.88 | 20.75 | -- | 4.92 |
| Empiric Student Property PLC | 65.67m | 92.47m | 529.74m | 295.00 | 5.73 | 0.7452 | 5.69 | 8.07 | 0.1532 | 0.1532 | 0.1088 | 1.18 | 0.0602 | -- | 10.79 | 222,623.70 | 8.47 | 2.40 | 8.78 | 2.59 | 65.37 | 61.62 | 140.81 | 40.12 | -- | -- | 0.3624 | 90.45 | -5.85 | -- | 221.81 | -- | -- | -- |
| Balanced Commercial Property Trust Ltd | 52.86m | 189.24m | 586.50m | 0.00 | 3.33 | 0.5627 | -- | 11.10 | 0.2512 | 0.2512 | 0.0699 | 1.49 | 0.0388 | -- | 5.32 | -- | 13.89 | 2.57 | 14.11 | 2.61 | 76.00 | 82.29 | 358.00 | 56.61 | -- | -- | 0.2242 | 96.04 | -14.45 | -2.88 | 285.20 | 25.48 | -- | -10.32 |
| CLS Holdings plc | 140.40m | 128.00m | 597.24m | 112.00 | 4.67 | 0.4451 | 4.63 | 4.25 | 0.3142 | 0.3142 | 0.3446 | 3.29 | 0.0553 | -- | 6.65 | 1,253,571.00 | 5.04 | 5.47 | 5.52 | 5.97 | 77.28 | -- | 91.17 | 95.60 | -- | -- | 0.4382 | 23.28 | 0.2869 | 5.47 | 54.39 | 4.09 | -40.95 | 14.00 |
| Globalworth Real Estate Investments Ltd | 199.68m | 59.22m | 600.22m | 35.00 | 10.13 | 0.3929 | 9.93 | 3.01 | 0.3051 | 0.3051 | 1.03 | 7.87 | 0.0645 | -- | 13.29 | -- | 1.94 | 2.08 | 2.08 | 2.22 | 62.32 | 67.74 | 30.02 | 32.12 | -- | 4.59 | 0.4574 | 175.82 | -1.77 | 26.31 | 201.48 | 33.23 | 13.91 | -- |
| Holder | Shares | % Held |
|---|---|---|
| Valu-Trac Investment Management Ltd.as of 30 Nov 2022 | 30.93m | 4.99% |
| Baillie Gifford & Co.as of 20 Jul 2021 | 25.36m | 4.09% |
| Premier Fund Managers Ltd.as of 30 Jun 2021 | 24.35m | 3.93% |
| Alder Investment Management Ltd.as of 30 Jun 2021 | 23.68m | 3.82% |
| Investec Wealth & Investment Ltd.as of 30 Jun 2021 | 23.39m | 3.77% |
| CCLA Investment Management Ltd.as of 30 Jun 2021 | 17.92m | 2.89% |
| Rathbone Investment Management Ltd.as of 30 Jun 2021 | 16.77m | 2.70% |
| West Yorkshire Pension Fundas of 31 Mar 2022 | 16.49m | 2.66% |
| Schroder & Co. Ltd.as of 30 Jun 2022 | 15.85m | 2.56% |
| BlackRock Financial Management, Inc.as of 30 Nov 2022 | 15.56m | 2.51% |
