Net asset value (NAV) at Impact Healthcare REIT nudged up in the final three months of 2019.

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Impact Healthcare has 86 care homes in its portfolio

NAV per share stood at 106.81p on 31 December, compared to 106p at the end of September last year.

The group also declared a final dividend of the year of 1.54p a share, taking the annual shareholder payout for the year to 6.17p a share. The group set a dividend target for 2020 of 6.29p.

NAV total return for 2019 stood at 9.46%, and the company is targeting a return of 9% this year.

At the end of the year the portfolio was comprised of 86 healthcare properties, of which 84 are care homes let to eight tenants on fixed-term leases of 20 to 25 years, with no break clauses. In addition, the group owns two healthcare facilities leased to the NHS. In total, the group has nine tenants

Rupert Barclay, chairman of Impact Healthcare REIT, said: “The board is pleased by the good progress made by the company over the past year. The company’s portfolio of UK residential care homes and growing number of high-quality tenants, who offer an essential regulated service and provide good care, continue to deliver investors secure inflation-linked and attractive income for the long-term with the potential for income and capital growth. This has provided an unaudited NAV total return of 9.46% for the period, ahead of target.

The £35m of equity raised by the company in December last year, in addition to the remaining headroom on its £50m of debt facilities, leave the company well-placed to continue to diversify its portfolio by geography and by tenant by adding further experienced operators from its pipeline of near term opportunities.”