Primary Health Properties (LON:PHP) Given "Buy" Rating at Berenberg Bank

Key Points

• Berenberg Bank reiterated a "Buy" rating on Primary Health Properties and set a GBX 128 price target, signalling a potential upside of about 36.17% from the recent close.
• Analyst consensus is positive with five Buy ratings and one Hold, giving a consensus rating of "Moderate Buy" and an average price target of GBX 113.40.
• PHP stock last traded at GBX 94 (down ~0.6%), with a market cap of £2.44bn, a P/E of 14.24, and a 52-week range of GBX 87.40–109.60.

Primary Health Properties (LON:PHP - Get Free Report)'s stock had its "buy" rating restated by Berenberg Bank in a research note issued on Friday,Digital Look reports. They presently have a GBX 128 price objective on the real estate investment trust's stock. Berenberg Bank's price objective points to a potential upside of 36.17% from the stock's previous close.

A number of other research firms also recently issued reports on PHP. Deutsche Bank Aktiengesellschaft increased their price target on shares of Primary Health Properties from GBX 114 to GBX 115 and gave the stock a "buy" rating in a research note on Friday, March 20th. Stifel Nicolaus reissued a "buy" rating and issued a GBX 105 price target on shares of Primary Health Properties in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Primary Health Properties from GBX 100 to GBX 105 and gave the stock a "neutral" rating in a research note on Wednesday, April 8th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of GBX 113.40.

Primary Health Properties Trading Down 0.6%

PHP stock traded down GBX 0.55 during trading on Friday, reaching GBX 94. The company had a trading volume of 7,676,194 shares, compared to its average volume of 38,356,730. Primary Health Properties has a 52 week low of GBX 87.40 and a 52 week high of GBX 109.60. The company has a market cap of £2.44 billion, a P/E ratio of 14.24, a PEG ratio of 5.64 and a beta of 0.80. The business has a 50 day moving average of GBX 98.84 and a 200 day moving average of GBX 98.10. The company has a debt-to-equity ratio of 129.48, a current ratio of 6.67 and a quick ratio of 0.62.

Primary Health Properties (LON:PHP - Get Free Report) last released its quarterly earnings results on Tuesday, March 17th. The real estate investment trust reported GBX 7.30 earnings per share (EPS) for the quarter. Primary Health Properties had a net margin of 45.95% and a return on equity of 6.03%. As a group, sell-side analysts forecast that Primary Health Properties will post 7.0875912 earnings per share for the current fiscal year.

About Primary Health Properties

PHP invests in flexible, modern properties for local primary healthcare. The overall objective of the group is to create progressive returns to shareholders through a combination of earnings growth and capital appreciation. 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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