Impact Healthcare REIT ( (GB:CRT) ) just unveiled an announcement.
Care REIT plc reported its annual results for 2024, highlighting improvements in rent cover and operational performance, which have supported increased rent receipts and fully covered dividend payments. The company’s total rental income rose due to annual rent reviews, leading to a 1.9% increase in adjusted EPS and a 3.7% rise in EPRA net tangible assets per share. Despite a slight increase in net loan-to-value ratio, Care REIT maintains a strong balance sheet with significant uncommitted debt facilities. The Board has recommended a cash offer for the company’s entire issued share capital by CareTrust REIT, Inc. The company continues to focus on profitable growth through inflation-based rent reviews and high rental cover in a constrained supply market. However, high interest rates and discounts to net asset value limit capital raising opportunities. Care REIT is also committed to improving the environmental sustainability of its portfolio, with a target to achieve net zero status by 2045.
More about Impact Healthcare REIT
Care REIT plc is a real estate investment trust that provides investors with exposure to a diversified portfolio of UK healthcare real estate assets, focusing primarily on care homes. The company plays a significant role in the UK’s health infrastructure, addressing the needs of an aging population and supporting the National Health Service (NHS) by providing care facilities for elderly patients.
YTD Price Performance: 35.86%
Average Trading Volume: 2,880,398
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £450M
For detailed information about CRT stock, go to TipRanks’ Stock Analysis page.
Trending Articles:
Questions or Comments about the article? Write to editor@tipranks.com