IN BRIEF: Target Healthcare REIT buys four Scotland care homes

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Target Healthcare REIT PLC - London-based real estate investment trust focused on care homes - Buys three care homes and makes a forward commitment to buy a fourth, committing £45 million in total. This represents the redeployment of just over half of the £85.9 million that Target Healthcare received from the sales of nine care homes back in September. The newly purchased care homes all are in central Scotland. The net initial yield on the acquisitions is above 6%, Target Healthcare says. ‘We have a number of further transactions currently in due diligence and expect to be in a position to make further announcements regarding additional redeployment in due course,’ says John Flannelly, head of investment at Target Fund Managers Ltd.

Current stock price: 95.50 pence, down 1.3% in London on Monday

12-month change: up 14%

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