QUARTERLY FACTSHEET
30 September 2022
The Value of Home
Triple Point Social Housing REIT plc - (the "Company" or "SOHO") invests in social housing assets in the UK, with a particular focus on Specialised Supported Housing.
INVESTMENT FEATURES
- Investment in a diversified portfolio of Social Housing with a focus on Specialised Supported Housing
-
Typically 20 years+ Inflation-linked leases with Approved Providers
("AP") - APs are typically Housing Associations or Local Authorities or other regulated organisations in receipt of direct payment from local government
- SOHO has 100% ownership of property
- Properties are typically leased under long-term Full Repairing and Insuring ("FRI") leases and house vulnerable individuals who have their rent funded by central government
- Care is provided by CQC registered care providers who contract directly with the Local Authority
- Forward funding in order to access prime Social Housing stock being developed (provided an agreement for lease is in place and a coupon is receivable during construction) is capped at 20% of NAV at the time of entering into any new forward funding arrangement
COMPANY INFORMATION | DIRECTORS AND ADVISERS | |||
LEI | 213B00BERVBS2HFTBC58 | Board of Directors (Non-Executive) | ||
Ticker | SOHO | Chris Phillips (Chairman) | ||
ISIN | GB00BF0P7H59 | Ian Reeves CBE | ||
Paul Oliver | ||||
Peter Coward | ||||
Tracey Fletcher-Ray | ||||
KEY STATISTICS | Investment Manager | |||
Share Price | 73.00p1 | |||
Triple Point Investment Management LLP | ||||
Market Cap | ||||
£294.0m1,2 | ||||
IFRS NAV per share | 111.58p1 | Joint Financial Adviser | ||
EPRA NTA per share | 111.58p1 | Akur Limited | ||
KEY DATES | Joint Financial Adviser and Corporate Broker | |||
Stifel Nicolaus Europe Limited | ||||
Financial Year End | 31 December | Legal Adviser to the Company | ||
Interim | 30 June | |||
Taylor Wessing LLP | ||||
Q2 2022 Ordinary Share Dividend | 30 September 2022 | Auditor and Reporting Accountant | ||
Paid | 16 December 2022 | |||
Q3 2022 Ordinary Share Dividend | BDO LLP | |||
Expected to be Paid
DIVIDEND PER ORDINARY SHARE
5.46p (TARGET DIVIDEND IN RESPECT OF THE FINANCIAL YEAR)3
- 1.365 pence per Ordinary Share for the period from
- January to 31 March 2022 paid on 24 June 2022
- 1.365 pence per Ordinary Share for the period from
- April to 30 June 2022 paid on 30 September 2022
- 1.365 pence per Ordinary Share for the period from
- July to 30 September 2022 expected to be paid on 16 December 2022
SOHO ORDINARY SHARE PRICE
8 August 2017 to 30 September 2022
100
80
60
40
20
0
Sep-17Dec-17 | Jun-18 | Dec-18 | Jun-19 | Dec-19 | Jun-20 | Dec-20 | Jun-21 | Dec-21 | Jun-22Sep-22 |
KEY DEVELOPMENTS IN Q3 2022
25 August 2022
Investment Grade Credit Rating
Affirmed
Fitch Ratings has affirmed the Group's existing Investment Grade, long-term Issuer Default Rating (IDR) of 'A-' with a stable outlook and a senior secured rating of 'A' for the Group's existing loan notes.
8 September 2022
Dividend Declaration
The Company declared an interim dividend of 1.365 pence per Ordinary Share for the period from 1 April 2022 to 30 June 2022
9 September 2022
Results For The Six Months Ended 30 JUNE 2022
EPRA NTA per Share | 111.80p |
IFRS Valuation | £669.6m |
WAULT | 25.9 years |
Group LTV | 36.8% |
REFERENCES: | QUARTERLY FACTSHEET | |
1 | As at 30 September 2022 | Page 01 |
2 | Excludes shares held in treasury 450,000 which do not carry any voting rights | |
3 | The target dividend is a target only and not a forecast. There can be no assurance that the target will be met and it should not be taken as an indication of the Company's expected or actual future results |
QUARTERLY FACTSHEET
30 September 2022
PORTFOLIO UPDATE
As at 30 September 2022, the Company's portfolio was made up of 495 Supported Housing properties (3,436 units) across the UK, acquired for an aggregate consideration of £576.8m (excluding purchase costs). These assets are leased to a variety of APs with a focus on Supported Housing for vulnerable adults with care and support needs.
PORTFOLIO SUMMARY
Key | Region | Properties | % of funds |
invested4 | |||
1 | North West | 99 | 19.9 |
2 | West Midlands | 84 | 16.4 |
3 | Yorkshire | 64 | 15.0 |
4 | East Midlands | 56 | 11.2 |
5 | South East | 62 | 9.5 |
6 | North East | 50 | 9.0 |
7 | London | 27 | 8.6 |
8 | South West | 29 | 4.8 |
9 | East | 20 | 4.1 |
10 | Scotland | 2 | 1.0 |
11 | Wales | 2 | 0.5 |
Total | 495 | 100.0 | |
PORTFOLIO HIGHLIGHTS as at 30 September 2022
10
6
1
3
4
2
119
5 7
8
£672.2m | 495 | 393 | 26 | ||||
IFRS Valuation | Properties with 3,436 units | Tenancies | Approved Providers | ||||
123 | £38.3m | 25.6 years | 100% | ||||
Care Providers | Contracted Rental Income | Weighted Average | Inflation-linked | ||||
Unexpired Lease Term | |||||||
Barnard Road | Clock Tower | Mulberry Lodge | |
CONTACT | Triple Point Social Housing REIT plc | ||
Max Shenkman | 1 King William Street | +44 (0)20 7201 8989 | |
Partner, Triple Point Investment Management LLP | London | www.triplepointreit.com | |
max.shenkman@triplepoint.co.uk | EC4N 7AF | ||
Disclaimer: Approved for issue in accordance with section 21 of the Financial Services and Markets Act 2000 by Triple Point Investment Management LLP, authorised and regulated by the Financial Conduct Authority (FCA). This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. The document is intended for information purposes only and does not constitute investment advice. It is important to remember that past performance is not a guide to future performance. Furthermore, the value of any investment or the income deriving from them may go down as well as up and you may not get back the full amount invested. If you are in any doubt about the contents of this document or the investment to which it relates, you should consult a person that specialises and is authorised by the FCA to advice on this type of investment.
REFERENCES: | QUARTERLY FACTSHEET |
4 Funds invested exclude purchase costs | Page 02 |
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Triple Point Social Housing REIT plc published this content on 15 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2022 17:35:05 UTC.