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20 January 2021
Target Healthcare REIT plc and its subsidiaries
("Target Healthcare" or "the Group")
Virtual property tour and Covid-19 vaccination programme and cases update
Target Healthcare (LSE: THRL), the UK listed specialist investor in modern, purpose-built care homes, announces that today it is hosting a virtual property tour for investors. No new material trading information will be disclosed except providing an update on the progress of the Covid-19 vaccination programme and current case numbers in the Group's portfolio.
As of today, the administration of the first dose under the vaccination programme is well advanced in 86 per cent. of the Group's care homes, with commencement expected for the remainder of the portfolio prior to the government target of 31 January. There are currently confirmed Covid-19 cases in 2.4 per cent. of total portfolio beds across 14 care homes, down from the peak of 3.2 per cent. suspected or confirmed cases of total portfolio beds across 32 care homes during the third week of April 2020.
A copy of the presentation will shortly be made available on the Target Healthcare website at https://www.targethealthcarereit.co.uk/investor-relations/reports-and-presentations/financial-reporting.
LEI: 213800RXPY9WULUSBC04
ENDS
Enquiries:
Kenneth MacKenzie; Gordon Bland
Target Fund Managers Limited
01786 845 912
Mark Young; Mark Bloomfield
Stifel Nicolaus Europe Limited
020 7710 7600
Dido Laurimore; Claire Turvey; Richard Gotla
FTI Consulting
020 3727 1000
Notes to editors:
UK listed Target Healthcare REIT plc (THRL) is an externally managed Real Estate Investment Trust which provides shareholders with an attractive level of income, together with the potential for capital and income growth, from investing in a diversified portfolio of modern, purpose-built care homes.
The Group's portfolio at 30 September 2020 comprised 75 assets let to 27 tenants with a total value of £637.5 million.
The Group invests in modern, purpose-built care homes that are let to high quality tenants who demonstrate strong operational capabilities and a strong care ethos. The Group builds collaborative, supportive relationships with each of its tenants as it believes working in this way helps raise standards of care and helps its tenants build sustainable businesses. In turn, that helps the Group deliver stable returns to its investors.
Important information
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.
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