Stirling-based Target Healthcare Real Estate Investment Trust (REIT) believes its strong balance sheet will help it to weather “short-term dips” caused by the Covid-19 pandemic as the care home investor hiked its interim dividend.
The trust said: “The current pandemic presents a significant challenge for us all. However, the stable recent performance of the group’s portfolio, allied with the group’s strong balance sheet and conservative leverage, should provide a platform to weather short-term dips that may arise.”
Chairman Malcolm Naish added: “The current coronavirus pandemic is clearly a concern and the safety and wellbeing of the residents in our homes, and the healthcare professionals who provide their care, is paramount.
"A combination of the enhanced infection controls, restriction of visitors, and the ability of residents to follow isolation guidelines if required using generous room sizes and private en-suites, provides some comfort that our tenants are well placed to provide the best quality care to their residents given the circumstances.”
His comments came as Target increased its interim dividend for the six months to 31 December to 3.34p. The trust has 27 tenants operating its 71 care homes.
