Primary Health Properties (LON:PHP) Price Target Raised to GBX 133

Key Points

• Berenberg Bank raised Primary Health Properties’ price target to GBX 133 from GBX 128 and maintained a “buy” rating, implying 38.69% upside from the previous close.
• Analyst sentiment remains positive, with four Buy ratings and one Hold rating; the consensus rating is “Moderate Buy,” with an average target of GBX 115.20.
• PHP shares opened at GBX 95.90 and were trading up 1.0%. The company recently reported quarterly EPS of GBX 3.80, with a 43.30% net margin and 6.20% return on equity.

Primary Health Properties (LON:PHP - Get Free Report) had its target price upped by investment analysts at Berenberg Bank from GBX 128 to GBX 133 in a report released on Friday,London Stock Exchange reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. Berenberg Bank's target price would suggest a potential upside of 38.69% from the company's previous close.

Other analysts have also recently issued research reports about the company. Shore Capital Group restated a "house stock" rating on shares of Primary Health Properties in a report on Thursday, July 30th. Jefferies Financial Group reiterated a "buy" rating and set a GBX 118 price target on shares of Primary Health Properties in a research report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a GBX 115 price objective on shares of Primary Health Properties in a report on Friday, July 31st. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Primary Health Properties presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 115.20.

Primary Health Properties Trading Up 1.0%

Shares of Primary Health Properties stock opened at GBX 95.90 on Friday. The stock has a market capitalization of £2.49 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 5.64 and a beta of 0.79. The company has a quick ratio of 0.62, a current ratio of 0.88 and a debt-to-equity ratio of 131.37. The company has a 50-day simple moving average of GBX 93.91 and a 200 day simple moving average of GBX 96.50. Primary Health Properties has a 12-month low of GBX 87.40 and a 12-month high of GBX 109.60.

Primary Health Properties (LON:PHP - Get Free Report) last released its quarterly earnings results 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%. Research analysts expect that Primary Health Properties will post 7.0875912 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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