Primary Health Properties (LON:PHP) Stock Breaks Below 200 Day Moving Average - Time to Sell?

Key Points

• Primary Health Properties shares fell below their 200-day moving average, reaching GBX 90.70 before last trading at GBX 91.15, below the GBX 93.38 long-term average.
• Despite the technical weakness, analyst sentiment remains positive: four analysts rate the stock a Buy and one a Hold, with a “Moderate Buy” consensus and an average price target of GBX 113.
• PHP reported a quarterly loss of GBX 0.14 per share, while maintaining a 43.30% net margin and a 30-year record of dividend growth supported by long-term healthcare property leases.

Shares of Primary Health Properties Plc (LON:PHP - Get Free Report) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 93.38 and traded as low as GBX 90.70. Primary Health Properties shares last traded at GBX 91.15, with a volume of 11,439,597 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PHP shares. Berenberg Bank lifted their price target on shares of Primary Health Properties from GBX 128 to GBX 133 and gave the company a "buy" rating in a report on Friday, August 14th. Shore Capital Group reissued a "house stock" rating on shares of Primary Health Properties in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 115 price target on shares of Primary Health Properties in a research note on Friday, July 31st. Finally, Jefferies Financial Group reissued a "buy" rating and set a GBX 107 price objective on shares of Primary Health Properties in a report on Thursday, October 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of GBX 113.

Primary Health Properties Stock Performance

The company has a 50-day moving average price of GBX 92.70 and a two-hundred day moving average price of GBX 93.38. The stock has a market capitalization of £2.37 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 5.64 and a beta of 0.79. The company has a current ratio of 0.88, a quick ratio of 0.62 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, October 15th. The real estate investment trust reported GBX (0.14) EPS for the quarter. Primary Health Properties had a return on equity of 6.20% and a net margin of 43.30%. On average, equities analysts forecast that Primary Health Properties Plc will post 7.09 earnings per share for the current 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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