QUARTERLY FACTSHEET
31 December 2022
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 | 61.30p1 | ||||
Triple Point Investment Management LLP | |||||
Market Cap | |||||
£246.9m1,2 | |||||
IFRS NAV per share | 109.06p1 | Joint Financial Adviser | |||
EPRA NTA per share | 109.06p1 | 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 | |||||
Q3 2022 Ordinary Share Dividend | 16 December 2022 | Auditor and Reporting Accountant | |||
Paid | |||||
Q4 2022 Ordinary Share Dividend | 31 March 2023 | BDO LLP | |||
Expected to be Paid | |||||
DIVIDEND PER ORDINARY SHARE
5.46p (TARGET DIVIDEND IN RESPECT OF THE FINANCIAL YEAR)3
Dividends paid in respect of the year ending 31 December 2022 totalled 5.46 pence per Ordinary Share, in line with the Company's target.
SOHO ORDINARY SHARE PRICE
8 August 2017 to 31 December 2022
120
100
80
60
40
20
0 | ||||||||||
Dec 17 | Jun 18 | Dec 18 | Jun 19 | Dec 19 | June 20 | Dec 20 | June 21 | Dec 21 | June 22 | Dec 22 |
KEY DEVELOPMENTS IN Q4 2022
23 November 2022
Dividend Declaration
The Company declared an interim dividend of 1.365 pence per Ordinary Share for the period from 1 July to 30 September 2022.
8 December
Cancellation of RCF Facility
The Group cancelled the £160 million Revolving Credit Facility with Lloyds and Natwest in December 2022 (the facility had been reduced in size from £160m to £50m in February 2022).
REFERENCES: | QUARTERLY FACTSHEET | |
1 | As at 31 December 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
31 December 2022
PORTFOLIO UPDATE
As at 31 December 2022, the Company's portfolio was made up of 497 Supported Housing properties (3,456 units) across the UK, acquired for an aggregate consideration of £581.6m (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 | 19.8 |
2 | West Midlands | 84 | 16.3 |
3 | Yorkshire | 64 | 14.8 |
4 | East Midlands | 58 | 11.9 |
5 | South East | 62 | 9.4 |
6 | North East | 50 | 8.9 |
7 | London | 27 | 8.5 |
8 | South West | 29 | 4.7 |
9 | East | 20 | 4.1 |
10 | Scotland | 2 | 1.0 |
11 | Wales | 2 | 0.6 |
Total | 497 | 100.0 |
PORTFOLIO HIGHLIGHTS as at 31 December 2022
10
6
1
3
4
2
119
5 7
8
£669.1m | 497 | 395 | 27 | ||||
IFRS Valuation | Properties with 3,456 units | Tenancies | Approved Providers | ||||
123 | £39.0m | 25.3 years | 100% | ||||
Care Providers | Contracted Rental Income | Weighted Average | Inflation-linked | ||||
Unexpired Lease Term | |||||||
Colchester | Abingdon | Leeds | |
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 03 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 March 2023 07:18:07 UTC.