Tuesday 17th November 2020
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NorthWest Healthcare Properties Management Limited, the manager of Vital Healthcare Property Trust provides to the NZX a copy of the presentations given at today's annual meeting of unitholders.
Vital recorded a 12.7% total return for the 12 months ended 30 September 2020, despite COVID-19 impacting around half of this period. Over the same period, Vital outperformed the S&P/NZX All Real Estate Index by 17.1%. This significant outperformance highlights the defensive nature of healthcare real estate compared to other real estate classes and the resilience of hospital operators in particular.
This resilience led to over 99% of rent of being collected over the last 12 months; well above our peers in New Zealand and Australia with a majority of Vital’s tenants having recovered to pre-pandemic operating levels.
Despite COVID-19, we were able to raise $157.5 million in October and November from a significantly oversubscribed equity raising. The capital will be used to fund Vital’s strategic objectives which in turn will provide future earnings growth for unitholders.
Vital paid 8.75 cents per unit in distributions over the 2020 financial year and we have provided guidance of at least this amount for the current financial year.
See the links below for more details:
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