Triple Point Social Housing REIT: Robust base and capital deployment options

Edison Investment Research Limited Triple Point Social Housing REIT: Robust base and capital deployment options 28-Sep-2023 / 09:02 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 28 September 2023 Triple Point Social Housing REIT: Robust base and capital deployment options Triple Point Social Housing (SOHO) reported solid H123 results. With borrowing costs fixed, growth in indexed rental income partly offset the impact of credit loss provisions against its two unperforming tenants. Progress is being made in resolving these issues, and as there is no read-across to the wider portfolio, we forecast full dividend cover through FY24. Meanwhile, with the demand for specialised supported housing remaining strong, SOHO has entered a partnership with one of the leading providers in the sector. The FY23e yield is c 10%. We estimate that even a c 20% decline in FY24 income would support a fully covered DPS of at least c 4.5p, or a yield of c 7.6%, consistent with the peer average. Click here to view the full report. All reports published by Edison are available to download free of charge from its website www.edisongroup.com About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached – across institutions, family offices, wealth managers and retail investors – Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first company in-market 17 years ago, Edison has more than 100 employees and covers every economic sector. Headquartered in London, Edison also has offices in New York, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Martyn King [phone] [e-mail] Learn more at www.edisongroup.com and connect with Edison on:  LinkedIn        www.linkedin.com/company/edison-group-/ Twitter           www.twitter.com/Edison_Inv_Res YouTube       www.youtube.com/edisonitv Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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