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Equity Bottom-Up

Target Healthcare REIT PLC / Equity Bottom-Up

<p>Strong accounting returns continued for Target Healthcare REIT during Q322, extending its record of consistent positive returns since IPO. Indexed rent uplifts, an extension of long-term fixed-rate debt and a historical ability of operators to match inflation pressures with fee growth offer good inflation protection. In combination with continuing investment, this supports Target’s well-charted path to full dividend cover.</p>

Strong accounting returns continued for Target Healthcare REIT during Q322, extending its record of consistent positive returns since IPO. Indexed rent uplifts, an extension of long-term fixed-rate debt and a historical ability of operators to match inflation pressures with fee growth offer good inflation protection. In combination with continuing investment, this supports Target’s well-charted path to full dividend cover.

Target Healthcare REIT - Q322 quarterly return of 2.5%