360 Capital Mortgage REIT (ASX:TCF) reported a set of financial and operational results for the half-year ended Dec. 31, 2025, characterised by aggressive portfolio expansion and high-yield returns for investors.
The trust deployed $24.5 million in new lending during the period, all secured by registered mortgages, bringing its portfolio to six loans across 33 individual mortgages.
The trust’s financial health appears exceptionally strong, with net operating earnings surging 94.2% over the previous year to $2.6 million.
Shareholders are reaping the rewards of this growth; TCF delivered a distribution of 31.3 cents per unit for the half-year, marking a 4% increase over H1 FY25.
The payout reflects an impressive annualised distribution yield of 10.8%, consistently exceeding the trust's target return by 2.82% p.a.
On the capital front, the trust raised $16.6 million, fueling a 40.5% increase in gross asset value.
All capital raisings were executed at the net asset value of $5.94 per unit, with the investment manager absorbing costs to prevent dilution.
Management maintains a disciplined risk profile, reporting a conservative weighted average loan-to-value ratio of 49.1% and a short average maturity term of seven months.