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Civitas Social Housing says no impact from coronavirus despite care home death toll

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Civitas Social Housing PLC (LON:CSH) said rental collections from its portfolio of care homes have been unaffected by the devastating impact of coronavirus (COVID-19) on the sector.

Deaths at care homes across the UK have soared in the past two months due to the virus with the1,705 coronavirus-related fatalities officially recorded in the week ending January 22, 2021, the highest since May.

In a statement for the three months to end-December 2020, Civitas said it had continued to see a strong financial and operational performance which was in line with expectations.

The FTSE 250 group added that it has been in regular contact with its tenants since the start of the pandemic with few serious cases of COVID-19 reported.

As at February 1, 2021, over 99% of rents in respect of the period to December 31, 2020, had been received across its 619 properties with the balance expected shortly, it said.

Demand for high-quality homes for people with learning disabilities, mental health and autism is also continuing to grow, it added.

The group’s NAV per share at of end-December 2020 was 108.17p (September 30, 2020: 108.01p).

A 1.35p quarterly dividend was declared, which Civitas said is in line with its full-year target of 5.4p

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