Business
RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2023
RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2023.
About this update from Social Housing Reit Plc
[{"type":"text","content":"\n\n \n7 September 2023\nTriple Point Social Housing REIT plc\n(the \"Company\" or, together with its subsidiaries, the \"Group\")\nRESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2023\n \n \nThe Board of Triple Point Social Housing REIT plc (ticker: SOHO) is pleased to announce its unaudited results for the six months ended 30 June 2023.\n \nChris Phillips, Chair of Triple Point Social Housing REIT plc, commented:\n\"The Company has continued to demonstrate strong rental growth and valuation resilience during the first half of 2023, despite the uncertain macro-economic backdrop. We were pleased to announce the recent portfolio sale of properties principally in line with book value, demonstrating continued liquidity and the resilience of valuations in the sector. \n \nThe Investment Grade rating of our long-term fully fixed priced debt was reaffirmed last month and our focus remains on the operating performance of our portfolio. Our proactive approach to asset management, paired with the inflation protection offered through our rental income, and the growing demand for specialised supported housing, means that we are well positioned to ensure the sustainability of our investments over the long-term.\"\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\nSix months to 30 June 2023\n\n\nSix months to 30 June 2022\n\n\nYear ended 31 December 2022\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPortfolio value\n- IFRS basis\n\n\n \n£675.1m\n\n\n \n£669.6m\n\n\n \n£669.1m\n \n\n\n\n\n \nEPRA Net Tangible Assets (\"NTA\") per share\n(equal to IFRS NAV per share)\n \n\n\n \n111.31p\n \n \n\n\n \n111.80p\n \n \n\n\n \n109.06p\n \n \n\n\n\n\nEPRA Net Initial Yield (NIY)\n \n\n\n5.65%\n \n\n\n5.28%\n \n\n\n5.46%\n \n\n\n\n\nLoan to Value\n \n\n\n37.5%\n\n\n36.8%\n\n\n37.4%\n\n\n\n\nEarnings per share (basic and diluted)\n- IFRS basis\n- EPRA basis\n- Adjusted earnings\n\n\n \n3.65p\n2.18p\n2.21p\n\n\n \n6.19p\n2.43p\n2.57p\n\n\n \n6.18p\n4.78p\n5.03p\n\n\n\n\n \nTotal annualised rental income\n\n\n \n£40.5m\n\n\n \n£37.4m\n\n\n \n£39.0m\n\n\n\n\nWeighted average unexpi...