Civitas Housing Association has reported a robust set of financial results, boosting its portfolio value by 60%, for the year ended 31 March 2019.
The supported living and social housing REIT has seen its portfolio value increase to £826.9m.
Its rent roll rose by 61% to £45.7m, while rental income increased by 92% to £35.7m.
The firm has 591 properties providing homes to more than 4,000 people.
It acquired 177 properties during the year.
Chairman Michael Wrobel said: “The UK has a chronic shortage of supported housing, with demand expected to increase further due to a range of factors, including medical advances at birth and a growing and ageing population.
“The company will continue to build on the successful and disciplined deployment to date and to seek opportunities to further enhance the portfolio within our capital resources. The investment adviser has a pipeline of properties under negotiation and in various stages of due diligence. Our confidence is reflected in our intention to target a dividend of 5.3p for the current financial year to March 2020.”
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