Primary Health Properties (LON:PHP) Shares Break Below 200 Day Moving Average - Here's Why

Key Points

• Primary Health Properties shares fell below their 200-day moving average of GBX 93.87, reaching GBX 91.20 and last trading at GBX 91.50 on heavy volume of 15.3 million shares.
• Analyst sentiment remains positive: four analysts rate the stock “Buy” and one rates it “Hold,” producing a consensus “Moderate Buy” rating and an average price target of GBX 115.20.
• The healthcare-focused REIT reported quarterly EPS of GBX 3.80, with a 43.3% net margin and 6.2% return on equity; its investment strategy centers on healthcare properties leased under long-term, government-backed arrangements.

Primary Health Properties Plc (LON:PHP - Get Free Report) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of GBX 93.87 and traded as low as GBX 91.20. Primary Health Properties shares last traded at GBX 91.50, with a volume of 15,291,922 shares trading hands.

Analyst Ratings Changes

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

Primary Health Properties Stock Performance

The company has a debt-to-equity ratio of 131.37, a current ratio of 0.88 and a quick ratio of 0.62. The business has a 50-day simple moving average of GBX 94.46 and a 200 day simple moving average of GBX 93.87. The firm has a market cap of £2.37 billion, a PE ratio of 15.25, a PEG ratio of 5.64 and a beta of 0.79.

Primary Health Properties (LON:PHP - Get Free Report) last posted 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 return on equity of 6.20% and a net margin of 43.30%. Equities research analysts forecast that Primary Health Properties Plc will post 7.0875912 EPS for the current year.

Primary Health Properties Company Profile

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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