Primary Health Properties (LON:PHP) Share Price Crosses Below 200-Day Moving Average - What's Next?

Key Points

• Primary Health Properties shares fell below their 200-day moving average, reaching GBX 90.15 before closing at GBX 91.30 on substantial volume.
• Analysts remain broadly positive: four rate the stock Buy and one Hold, producing a “Moderate Buy” consensus and an average price target of GBX 115.20—well above the latest price.
• The healthcare-focused REIT reported quarterly EPS of GBX 3.80, with a 43.30% net margin and a 30-year record of uninterrupted dividend growth.

Primary Health Properties Plc (LON:PHP - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of GBX 93.41 and traded as low as GBX 90.15. Primary Health Properties shares last traded at GBX 91.30, with a volume of 12,091,069 shares traded.

Analysts Set New Price Targets

PHP has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 115 price objective on shares of Primary Health Properties in a research report on Friday, July 31st. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 118 target price on shares of Primary Health Properties in a research note on Thursday, October 1st. Berenberg Bank lifted their price target on shares of Primary Health Properties from GBX 128 to GBX 133 and gave the stock a "buy" rating in a research report on Friday, August 14th. Finally, Shore Capital Group reiterated a "house stock" rating on shares of Primary Health Properties in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Primary Health Properties has a consensus rating of "Moderate Buy" and a consensus price target of GBX 115.20.

Primary Health Properties Price Performance

The stock has a market cap of £2.37 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 5.64 and a beta of 0.79. The firm has a 50 day simple moving average of GBX 93.26 and a 200-day simple moving average of GBX 93.41. The company has a quick ratio of 0.62, a current ratio of 0.88 and a debt-to-equity ratio of 131.37.

Primary Health Properties (LON:PHP - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported GBX 3.80 EPS for the quarter. Primary Health Properties had a net margin of 43.30% and a return on equity of 6.20%. On average, equities research analysts forecast that Primary Health Properties Plc will post 7.09 earnings per share for the current fiscal year.

About Primary Health Properties

PHP is a leading investor in critical healthcare infrastructure in the UK and Ireland. The overall objective of the group is to create progressive returns to shareholders through a combination of earnings growth and capital appreciation. PHP has an unbroken 30 year track record of dividend growth. To achieve this, PHP invests in healthcare real estate let on long-term leases, backed by secure underlying covenants where the majority of rental income is funded directly or indirectly by a government body.

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