TRIPLE POINT SOCIAL HOUSING REIT PL

Management Reports • May 20, 2025

National Storage Mechanism | Additional information

RNS Number : 3014J

Social Housing Reit PLC

20 May 2025

20 May 2025

Social Housing REIT plc

(the "Company" or, together with its subsidiaries, the "Group")

2025 DIVIDEND GUIDANCE, DIVIDEND DECLARATION AND CHANGE TO VALUATION FREQUENCY

The Board of Directors of Social Housing REIT plc (LON: SOHO) (the "Board"), the real estate investment trust investing in specialised supported housing across the UK, is pleased to announce the Company is targeting an aggregate dividend of 5.622 pence per Ordinary Share in respect of the financial year ending 31 December 20251.

This represents a 3.0% increase on the 5.46 pence per share paid in respect of the financial year ended 31 December 2024 and is the first dividend target increase since 2022.

The dividend increase is driven by three factors:

·    The successful progress achieved with the lease assignments from Parasol to Westmoreland;
·    A reduction in costs driven by the transition to a management fee based on market capitalisation following the appointment of Atrato Partners Limited (the "Investment Manager"); and
·      An improvement in the earnings of SOHO, driven in part by annual inflation-linked rent increases.

Looking ahead, the Board and Investment Manager expect the Company to return to a long-term progressive dividend policy.

Dividend Declaration

The Board has declared an interim dividend in respect of the period from 1 January to 31 March 2025 of 1.4055 pence per Ordinary Share, payable on or around 27 June 2025 to holders of Ordinary Shares on the register on 30 May 2025. The ex-dividend date will be 29 May 2025.

The dividend will be paid as a Property Income Distribution.

Investment Manager Shareholdings

The combined shareholdings (units) in the Company held by the Atrato senior team and the Atrato Employee Benefit Trust is 2,778,148.

The following senior members of the Investment Manager hold the below shareholdings (units) in the Company:

Benedict Green	1,486,311
Steve Windsor	851,114
Natalie Markham	169,136
Adrian D'Enrico	28,815
Michael Carey	39,955
Thomas Still	30,935
Atrato Employee Benefit Trust	171,882

Change to Valuation Frequency

The Board announces the change from a quarterly to a bi-annual valuation of the Company's portfolio, bringing the Company in line with the wider listed UK Real Estate sector. This change reduces the number of valuations and results in a reduction of ongoing costs, in line with the Investment Manager's approach to driving further efficiency savings.

Going forwards, the Group's properties will continue to be independently valued by Jones Lang LaSalle Limited on an individual asset basis (as required by IFRS) at the 30th June and 31st December in each year.

ENDS

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

Social Housing REIT plc	Via Brunswick Group
Chris Phillips
Atrato Partners Ltd	[email protected]
Adrian D'Enrico
Michael Carey
Eddie Gilbourne
Akur Capital (Joint Financial Adviser)	[email protected]
Tom Frost
Anthony Richardson
Siobhan Sergeant
Stifel (Joint Financial Adviser and Corporate Broker)	Tel: 020 7710 7600
Mark Young
Rajpal Padam
Madison Kominski
Brunswick Group (Financial PR Adviser)	[email protected] Tel: 020 7404 5959
Nina Coad
Robin Wrench
Mara James

The Company's LEI is 213800BERVBS2HFTBC58.

Further information on the Company can be found on its website at   www.socialhousingreit.com .

1 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.

NOTES:

The Company primarily invests in social housing assets in the UK, with a particular focus on specialised supported housing (SSH). SSH is accommodation for vulnerable adults requiring support to live independently, including those with learning difficulties, mental health problems and physical disabilities. These properties are specially designed or adapted to meet residents' needs and are managed by Approved Providers who are predominantly regulated by the Regulator of Social Housing. Approved Providers consist of Housing Associations and Local Authorities, or other regulated organisations in receipt of direct payment from local government.

These operational residential properties deliver sustainable, long-term, growing income for shareholders, improved outcomes for residents and savings to the taxpayer.

The Company is listed on the Closed-ended investment funds category of the FCA's Official List and its Ordinary Shares are traded on the LSE's Main Market. 

Atrato Partners Limited is the Company's Investment Manager.

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