Assessing Asura's Share Price

Assura is a leading primary healthcare property company based in the UK. It owns and manages healthcare facilities across the UK, providing space for GPs, pharmacists, dentists and other healthcare services.

Assura’s business model centres around building, buying, developing and managing primary care properties. It generates revenue through rental income from leasing properties to GPs, pharmacists and other healthcare organisations. Assura aims to provide modern, purpose-built facilities for primary care services. It partners with primary care organisations to develop properties tailored to their needs.

Assura’s portfolio includes over 600 properties across the UK, with a market value of over £2 billion. The company’s asset management strategy focuses on actively managing existing properties and developing new facilities. Assura works with primary care organisations to upgrade and improve properties to meet the changing needs of the NHS.

The company’s growth strategy involves acquiring new properties to expand its portfolio, developing land for new primary care facilities, and improving and upgrading existing properties. Assura benefits from long lease terms of over 20 years on average, providing stable and predictable rental income.

History of Assura

Assura PLC was founded in 2003 by Richard Burrel.

The company went public on the London Stock Exchange in that year itself. 

Assura has worked to integrate its acquisitions, improve operational efficiency, reduce costs and leverage its size to gain more favourable terms from suppliers and insurance companies.

The company's subsidiaries include Assura (SC1) Ltd, BHE (St James) Ltd, Assura PCP UK Ltd, Metro MRI Ltd, and several others, each contributing to its broad portfolio in healthcare real estate.

Product and Services

Asura primarily operates in two business segments: healthcare and technology. Within these segments, the company provides a range of products and services to customers around the world.

Assura PLC owns and manages approximately 607 properties, demonstrating a long-term commitment as a property partner to over 600 medical centres. Their business model encompasses developing new buildings, investing in existing buildings, managing property portfolios, and ultimately owning these properties for the long term. Their services are vital in providing the necessary infrastructure for the evolving needs of primary healthcare in the UK.

The company focuses on creating and managing a portfolio that includes general practitioner (GP) surgery, primary care, and community healthcare buildings, thereby supporting the National Health Service (NHS) to deliver a wide range of services, tests, and treatments within the community.

Latest Financial performance of Assura

Assura PLC reported a strong financial performance for the year ended 31 March 2023. Their net rental income increased 9% to £138.0 million, up from £126.5 million the previous year.

Despite a slight decrease in their portfolio value from £2,752 million to £2,738 million, they saw a 6% increase in their passing rent roll to £143.4 million and a 12% rise in EPRA earnings to £96.8 million.

The company also reported an IFRS loss before tax of £119.2 million, which they attributed to a valuation decline driven by an outward yield shift.

Assura has continued to invest in the healthcare sector, with £200 million invested in new developments, acquisitions, and co-investment arrangements, and they completed 10 asset enhancement capital projects.

The company also disposed of 65 properties for £78 million, which was a premium to book value. Their total contracted rental income stands at £1.77 billion, even though this represents a slight decrease from the previous year's £1.81 billion.

In terms of dividends, Assura proposed a 5% increase in the quarterly dividend to 0.82 pence per share. Their development pipeline includes several projects, though they have noted delays currently being experienced in construction timelines and start dates.

From a sustainability perspective, Assura is actively working on incorporating eco-friendly practices into its operations.

They have moved on-site with their first two net zero carbon developments and aim to achieve EPC B ratings across their portfolio by March 2026, of which 53% is already at this level.

Financially, Assura maintains a strong and sustainable position, with a weighted average interest rate of 2.30%, cash and undrawn facilities of £243 million, and a stable A- credit rating from Fitch Ratings as of January 2023.

For a detailed review of Assura's financial performance and strategic developments throughout 2023, you can refer to the sources from James Sharp & Co. and Property Week

Assura Share Price

As of January 18, 2024, the latest share price for Assura PLC (ticker: AGR.L) was reported to be 44.66 GBX.

This figure represents a slight increase of 0.12 GBX (0.27%) from the previous close. The trading for the day ranged between 44.10 GBX to 45.68 GBX.

The share price has fluctuated over the past year, marking a 52-week range between 38.38 GBX and 57.35 GBX. On this particular trading day, the volume of shares traded was 2.40 million

Bottom Line

Asura has established itself as a leader in innovative technologies and a pioneer of groundbreaking solutions in the healthcare industry. With a proven track record of success and a portfolio of life-changing products, Asura is poised to continue its upward trajectory in the coming years.

For investors seeking exposure to high-growth sectors, Asura warrants a close look.

Overall, Asura has cemented its status as an innovator dedicated to shaping the future of healthcare. The road ahead is bright.

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