Indexed rent reviews continue to drive earnings growth and property valuation uplifts at Target Healthcare REIT Ltd (THRL). Meanwhile, tenant profitability remains strong, reflected in a continuing high level of rent cover and rent collection. Quarterly dividends are 3% above the prior year with a good level of cover by adjusted ‘cash’ earnings and the discount to NAV provides investors with the opportunity to benefit from any narrowing, for which further interest rate reductions should be supportive.
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