Triple Point Social Housing REIT : Factsheet Q3 2022 View document

QUARTERLY FACTSHEET

30 September 2022

The Value of Home

Triple Point Social Housing REIT plc - (the "Company" or "SOHO") invests in social housing assets in the UK, with a particular focus on Specialised Supported Housing.

INVESTMENT FEATURES

• Investment in a diversified portfolio of Social Housing with a focus on Specialised Supported Housing
• Typically 20 years+ Inflation-linked leases with Approved Providers
  ("AP")
• APs are typically Housing Associations or Local Authorities or other regulated organisations in receipt of direct payment from local government
• SOHO has 100% ownership of property

• Properties are typically leased under long-term Full Repairing and Insuring ("FRI") leases and house vulnerable individuals who have their rent funded by central government
• Care is provided by CQC registered care providers who contract directly with the Local Authority
• Forward funding in order to access prime Social Housing stock being developed (provided an agreement for lease is in place and a coupon is receivable during construction) is capped at 20% of NAV at the time of entering into any new forward funding arrangement

COMPANY INFORMATION			DIRECTORS AND ADVISERS
LEI	213B00BERVBS2HFTBC58	Board of Directors (Non-Executive)
Ticker		SOHO	Chris Phillips (Chairman)
ISIN		GB00BF0P7H59	Ian Reeves CBE
				Paul Oliver
				Peter Coward
				Tracey Fletcher-Ray
KEY STATISTICS				Investment Manager
Share Price		73.00p1
	Triple Point Investment Management LLP
Market Cap
	£294.0m1,2
IFRS NAV per share		111.58p1	Joint Financial Adviser
EPRA NTA per share		111.58p1	Akur Limited
KEY DATES				Joint Financial Adviser and Corporate Broker
			Stifel Nicolaus Europe Limited
Financial Year End		31 December	Legal Adviser to the Company
Interim		30 June
	Taylor Wessing LLP
Q2 2022 Ordinary Share Dividend	30 September 2022	Auditor and Reporting Accountant
Paid		16 December 2022
Q3 2022 Ordinary Share Dividend	BDO LLP

Expected to be Paid

DIVIDEND PER ORDINARY SHARE

5.46p (TARGET DIVIDEND IN RESPECT OF THE FINANCIAL YEAR)3

• 1.365 pence per Ordinary Share for the period from
• 1. January to 31 March 2022 paid on 24 June 2022
• 1.365 pence per Ordinary Share for the period from
• 1. April to 30 June 2022 paid on 30 September 2022
• 1.365 pence per Ordinary Share for the period from
• 1. July to 30 September 2022 expected to be paid on 16 December 2022

SOHO ORDINARY SHARE PRICE

8 August 2017 to 30 September 2022

100

80

60

40

20

0

Sep-17Dec-17

Jun-18

Dec-18

Jun-19

Dec-19

Jun-20

Dec-20

Jun-21

Dec-21

Jun-22Sep-22

KEY DEVELOPMENTS IN Q3 2022

25 August 2022

Investment Grade Credit Rating

Affirmed

Fitch Ratings has affirmed the Group's existing Investment Grade, long-term Issuer Default Rating (IDR) of 'A-' with a stable outlook and a senior secured rating of 'A' for the Group's existing loan notes.

8 September 2022

Dividend Declaration

The Company declared an interim dividend of 1.365 pence per Ordinary Share for the period from 1 April 2022 to 30 June 2022

9 September 2022

Results For The Six Months Ended 30 JUNE 2022

EPRA NTA per Share	111.80p
IFRS Valuation	£669.6m
WAULT	25.9 years
Group LTV	36.8%

REFERENCES:	QUARTERLY FACTSHEET
1	As at 30 September 2022	Page 01
2	Excludes shares held in treasury 450,000 which do not carry any voting rights
3	The target dividend is a target only and not a forecast. There can be no assurance that the target will be met and it should not be taken as an indication of the Company's expected or actual future results

QUARTERLY FACTSHEET

30 September 2022

PORTFOLIO UPDATE

As at 30 September 2022, the Company's portfolio was made up of 495 Supported Housing properties (3,436 units) across the UK, acquired for an aggregate consideration of £576.8m (excluding purchase costs). These assets are leased to a variety of APs with a focus on Supported Housing for vulnerable adults with care and support needs.

PORTFOLIO SUMMARY

Key	Region	Properties	% of funds
			invested4
1	North West	99	19.9
2	West Midlands	84	16.4
3	Yorkshire	64	15.0
4	East Midlands	56	11.2
5	South East	62	9.5
6	North East	50	9.0
7	London	27	8.6
8	South West	29	4.8
9	East	20	4.1
10	Scotland	2	1.0
11	Wales	2	0.5
Total		495	100.0

PORTFOLIO HIGHLIGHTS as at 30 September 2022

10

6

1

3

4

2

119

5 7

8

£672.2m	495	393			26
IFRS Valuation	Properties with 3,436 units	Tenancies	Approved Providers
123		£38.3m	25.6 years	100%
Care Providers	Contracted Rental Income	Weighted Average	Inflation-linked
Unexpired Lease Term

Barnard Road	Clock Tower	Mulberry Lodge
CONTACT		Triple Point Social Housing REIT plc
Max Shenkman		1 King William Street	[phone]
Partner, Triple Point Investment Management LLP	London	www.triplepointreit.com
[e-mail]		EC4N 7AF

Disclaimer: Approved for issue in accordance with section 21 of the Financial Services and Markets Act 2000 by Triple Point Investment Management LLP, authorised and regulated by the Financial Conduct Authority (FCA). This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. The document is intended for information purposes only and does not constitute investment advice. It is important to remember that past performance is not a guide to future performance. Furthermore, the value of any investment or the income deriving from them may go down as well as up and you may not get back the full amount invested. If you are in any doubt about the contents of this document or the investment to which it relates, you should consult a person that specialises and is authorised by the FCA to advice on this type of investment.

REFERENCES:	QUARTERLY FACTSHEET
4 Funds invested exclude purchase costs	Page 02