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Triple Point Social Housing REIT PLC on Wednesday said its net asset value per share remained stable in the third quarter of 2022 despite ‘turbulent’ market conditions.
London-based Triple Point Social Housing is real estate investment trust.
Triple Point Social Housing reported its NAV per ordinary share was 111.58p at September 30, down slightly from 111.80p at June 30 this year. Compared to the same period last year, NAV per share is up 4.6% from 106.63p.
Rental increases for some of the group’s properties drove NAV gains, which Triple Point Social Housing said were offset by a minor softening in valuation yields.
Despite ‘turbulent’ market conditions over the quarter, Triple Point Social Housing said its ‘stable’ NAV per share reflects the long-term, inflation-linked income generated by the company’s properties.
The company declared an interim dividend of 1.4 pence for the period between July 1 to September 30. Triple Point Social Housing said this payout is in line with its annual dividend target of 5.46p for 2021.
Triple Point Social Housing shares closed 3.50% lower at 66.10p each in London on Wednesday.
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