Business
Interim results for the six months ended 30 June
Interim results for the six months ended 30 June.
About this update from Social Housing Reit Plc
[{"type":"text","content":"\n \nRNS Number : 7545A Triple Point Social Housing REIT 14 September 2018 \n\nTHIS ANNOUNCEMENT HAS BEEN DETERMINED TO CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014.\n \n14 September 2018\nTriple Point Social Housing REIT plc\n(the \"Company\" or, together with its subsidiaries, the \"Group\")\nINTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2018\nThe Board of Triple Point Social Housing REIT plc (ticker: SOHO), the specialist REIT that invests in primarily newly developed social housing assets in the UK (let or pre-let to Approved Providers), with a particular focus on supported housing, today announced the Company's half year results for the six months ended 30 June 2018.\n \nThis is the Group's first full six month period to 30 June. Our first audited results related to trading from incorporation on 12 June 2017 to 31 December 2017. \n \nFinancial highlights\n· The IFRS Net Asset Value (\"NAV\") and EPRA NAV per share of 101.61 pence at 30 June 2018 (at 31 December 2017: 100.84 pence), an increase of 0.76% in the period. The IFRS NAV per share at IPO was 98.00 pence, an increase of 3.68% to 30 June 2018. \n· At the half year end, the portfolio was independently valued at £190.0 million on an IFRS basis, reflecting a valuation uplift of 8.53% against the portfolio's aggregate purchase price (excluding transaction costs). \no The valuation reflects a portfolio yield of 5.32%, against the portfolio's net initial yield at purchase of 5.91% (excluding forward funding transactions).\n· The Group's assets were valued at £203.4 million on a portfolio valuation basis, reflecting a portfolio premium of £13.4 million against the IFRS valuation. \no A portfolio valuation basis assumes the portfolio of properties is held in a single Special Purpose Vehicle (\"SPV\") holding structure, is sold to a third party on arm's length terms and attracts purchaser's costs of 2.3%.\n· 3.5 pence per ordinary share: dividends paid or declared to date since IPO.\n· The Company is on track to pay an initial total dividend of 5.0 pence per Ordinary Share...