Main menu
Edison Group
  • Home
  • Equities

    Equities

    View All Equities

    Equities by Sector

    Pan African Resources

    MCap

    GBP617m

    Last close

    GBP0.36

    ▲ 0.95 (2.69%)

    Quadrise

    MCap

    GBP31m

    Last close

    GBP0.02

    ▲ −0.17 (−10.00%)

    Sareum Holdings

    MCap

    GBP31m

    Last close

    GBP0.26

    ▲ −1.25 (−4.59%)

  • Sectors

    Sectors

  • Thematics

    Thematics

    View All Thematics

    Latest

  • Audiovisual

    Audiovisual

    View All Audiovisual

    Latest

Care REIT (LSE: CRT)

Last close As at 20/11/2024

GBP0.82

▲ 0.30 (0.37%)

Market capitalisation

GBP338m

Care REIT (CRT) invests in a diversified portfolio of UK healthcare assets, particularly residential and nursing care homes, let on long leases to high-quality operators. It aims to provide shareholders with attractive and sustainable returns, primarily in the form of dividends.

Care home demand is driven by demographics and care needs, and benefits from supportive demand fundamentals, including increasing requirements from a rapidly ageing population for high-quality care and a need to reduce pressure on high-cost medical care providers in the NHS.

Latest Insights

View More

Real Estate | Flash note

Impact Healthcare REIT — Successful turnaround

Real Estate | Update

Impact Healthcare REIT — Visible growth

Real Estate | Flash note

Impact Healthcare REIT — Non-core sales enhance the portfolio

Real Estate | Outlook

Impact Healthcare REIT — Visibly growing income and capital
Impact Healthcare REIT_resized
Visit Website

Sector

Real Estate

Equity Analyst

Martyn King

Martyn King

Director, Financials

Key Management

  • Andrew Cowley

    Managing partner, Impact Health Partners

  • David Yaldron

    FD

  • Rupert Barclay

    Non-executive chairman

Balance Sheet

Forecast net cash (£m)

175.9

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (6.8) (7.8) (5.3)
Relative (3.5) (5.5) (12.4)
52 week high/low 92.6p/78.9p

Financials

Care REIT (formerly Impact Healthcare REIT) continues to benefit from positive operational and financial trends, with indexed rental growth driving income and capital values, strong tenant performance and a record level of rent cover. Quarterly DPS is tracking Care’s full-year target of 6.95p (+2.7%) and, including DPS paid, the H124 NTA total return was 5.5%, building on the 10.5% FY23 return, the highest since listing. Across the portfolio, tenant operators have benefited from the post-pandemic recovery in occupancy and strong fee growth. Against this background, the performance of the turnaround assets has improved and all seven homes have now been transferred to new long-term operators, paving the way for a resumption of rent payments.

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2022A 45.4 38.6 32.6 8.4 9.8 10.9
2023A 53.1 46.0 34.5 8.3 9.9 10.2
2024E 54.6 47.2 35.7 8.6 9.6 8.0
2025E 58.0 50.3 39.2 9.4 8.8 8.0

Research

Update

Real Estate

Impact Healthcare REIT — Visible growth

Flash note

Real Estate

Impact Healthcare REIT — Non-core sales enhance the portfolio

Real Estate

Flash note

Impact Healthcare REIT — Successful turnaround
View All

Thematics

thematic

Real Estate

South African industrial property fundamentals are strong

thematic

Real Estate

South African retail property funds remain resilient

thematic

Consumer

IPO apocalypse

thematic

TMT

ESG, moving beyond the box tick
View All

Subscribe to Edison

Get access to the very latest content matched to your personal investment style.

Sign up for free