• Care home investor posts fourteenth consecutive quarter of EPRA NTA growth as it redeploys disposal proceeds into Scotland and Suffolk.

Target Healthcare REIT plc (LSE: THRL) has reported its unaudited quarterly net asset value as at 30 June 2026, alongside an update on corporate activity and its fourth interim dividend for the year.

EPRA Net Tangible Assets per share rose 1.2% to 122.1 pence, up from 120.6 pence at 31 March 2026, driven mainly by a 1.1% like-for-like valuation uplift from inflation-linked rent reviews. Total accounting return for the quarter was 2.5%.

The Group's portfolio, comprising 86 operational care homes and one forward-funded development site let to 31 tenants, was valued at £924.1 million, up from £903.2 million. The EPRA topped-up net initial yield stood at 6.21%, based on annualised contractual rent of £61.1 million.

During the quarter, the Group completed the acquisition of an operating care home in Central Scotland for £13 million, adding £0.8 million per annum to passing rent. It also acquired a development site in Suffolk for a fully electric 66-bed care home, pre-let for a 35-year term, with development costs capped at £15 million.

Net loan-to-value rose to 16.1% from 15.2%, remaining below the Group's target of around 25%. Rent collection reached 100% for the quarter, following the disposal of the one home previously in arrears.

The Company declared a fourth interim dividend of 1.508 pence per share, comprising 1.410 pence PID and 0.098 pence ordinary dividend, payable on 28 August 2026.

Kenneth MacKenzie, chief executive of Target Fund Managers, said: "Our strong, consistent performance, as evidenced by our continued EPRA NTA growth, is fully supported by the attractive sectoral demographics and an under-supply of modern, purpose-built care homes."

The Group also announced that Alastair Murray, the Investment Manager's CFO, is to leave the business, with a market search underway to find a successor.