Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Target Healthcare REIT PLC (THRL.L)

Company Dividend Discount ModelIndustry: REIT - Healthcare FacilitiesSector: Real Estate

Valuation Snapshot

Stable Growth$1.77 - $2.65$2.19
Multi-Stage$3.41 - $3.75$3.58
Blended Fair Value$2.88
Current Price$0.84
Upside243.16%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS0.00%0.00%0.000.060.060.060.050.050.040.030.030.02
YoY Growth---100.00%-12.49%1.23%26.33%8.03%23.37%36.16%11.32%61.03%36.85%
Dividend Yield--0.00%7.25%9.04%5.94%4.42%4.27%3.28%2.52%2.15%1.43%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)133.87
(-) Cash Dividends Paid (M)53.20
(=) Cash Retained (M)80.67
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)26.7716.7310.04
Cash Retained (M)80.6780.6780.67
(-) Cash Required (M)-26.77-16.73-10.04
(=) Excess Retained (M)53.9063.9470.63
(/) Shares Outstanding (M)620.24620.24620.24
(=) Excess Retained per Share0.090.100.11
LTM Dividend per Share0.090.090.09
(+) Excess Retained per Share0.090.100.11
(=) Adjusted Dividend0.170.190.20
WACC / Discount Rate7.54%7.54%7.54%
Growth Rate-2.00%-1.00%0.00%
Fair Value$1.77$2.19$2.65
Upside / Downside111.21%160.70%215.31%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)133.87132.53131.21129.89128.59127.31131.13
Payout Ratio39.74%49.79%59.84%69.89%79.95%90.00%92.50%
Projected Dividends (M)53.2065.9978.5290.79102.81114.58121.29

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.54%7.54%7.54%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)60.7461.3661.98
Year 2 PV (M)66.5367.9069.27
Year 3 PV (M)70.8173.0075.24
Year 4 PV (M)73.8276.8780.03
Year 5 PV (M)75.7379.6783.78
PV of Terminal Value (M)1,766.641,858.631,954.42
Equity Value (M)2,114.272,217.442,324.71
Shares Outstanding (M)620.24620.24620.24
Fair Value$3.41$3.58$3.75
Upside / Downside305.81%325.61%346.20%

High-Yield Dividend Screener

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