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Civitas Social Housing PLC on Wednesday reported an increased in its quarterly net asset value and declared a quarterly dividend in line with its previously upgraded full-year target.
The firm reported a net asset value of 114.84 pence at September 30, up 2.6% from 111.89p at June 30.
Civitas said this "robust" financial performance was in line with its expectations, and cited growth in rental income as a result of inflation indexation for the NAV increase.
It also noted positive progress has been made to hedge the company's loan book against interest rate increases.
Civitas is an Exeter, England-based real estate investment trust that invests in social care housing and healthcare facilities in the UK. It said that demand for care-based community housing remains high, with demand projected to "increased further still by independent bodies."
Its portfolio, based on individual asset valuation, has been valued overall at an average net initial yield of 5.27% as at September 30, up slightly from 5.25% at June 30.
Civitas declared a second quarterly dividend of 1.425 pence per share, in line with its yearly dividend target of at least 5.70p for the year ending March 31, 2023.
Shares in the firm were down 0.2% at 61.00 pence on Wednesday afternoon in London.
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