Q324 DPS was fully covered by adjusted earnings and despite a delay in resolving rent collection with My Space, one of the two recent problem tenants, we expect this to remain the case. My Space has ceased its partial rent payments since June but rent collection on the assets re-tenanted from Parasol to Westmoreland is expected to increase. With a My Space resolution taking longer, our forecasts for FY24 are reduced but are sufficient to cover DPS., while the shares continue to yield more than 9%.

04 Dec 2024
Triple Point Social Housing REIT - Fully covered DPS

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Triple Point Social Housing REIT - Fully covered DPS
Social Housing Reit PLC (SOHO:LON) | 66.6 0.3 0.6% | Mkt Cap: 261.9m
- Published:
04 Dec 2024 -
Author:
Martyn King -
Pages:
5 -
Q324 DPS was fully covered by adjusted earnings and despite a delay in resolving rent collection with My Space, one of the two recent problem tenants, we expect this to remain the case. My Space has ceased its partial rent payments since June but rent collection on the assets re-tenanted from Parasol to Westmoreland is expected to increase. With a My Space resolution taking longer, our forecasts for FY24 are reduced but are sufficient to cover DPS., while the shares continue to yield more than 9%.