Shore Capital Group Reiterates "House Stock" Rating for Primary Health Properties (LON:PHP)

Key Points

• Shore Capital Group reiterated a "house stock" rating on Primary Health Properties (LON:PHP) in its latest research note.
• Analyst consensus is a Moderate Buy (four Buy ratings, one Hold) with a mean price target of GBX 113.40, while individual targets range from GBX 105–128.
• PHP traded down to GBX 92.50 mid-day (down ~1.2%), below the consensus target; the company has a market cap of £2.40bn and a P/E of 14.02.

Primary Health Properties (LON:PHP - Get Free Report)'s stock had its "house stock" rating restated by research analysts at Shore Capital Group in a report issued on Wednesday,London Stock Exchange reports.

PHP has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised their price target on Primary Health Properties from GBX 114 to GBX 115 and gave the stock a "buy" rating in a research note on Friday, March 20th. Berenberg Bank restated a "buy" rating and issued a GBX 128 price objective on shares of Primary Health Properties in a report on Friday, April 24th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Primary Health Properties in a research report on Wednesday. Stifel Nicolaus reaffirmed a "buy" rating and set a GBX 105 target price on shares of Primary Health Properties in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Primary Health Properties from GBX 100 to GBX 105 and gave the company a "neutral" rating in a research report on Wednesday, April 8th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of GBX 113.40.

Primary Health Properties Trading Down 1.2%

LON:PHP traded down GBX 1.10 during mid-day trading on Wednesday, reaching GBX 92.50. 10,948,316 shares of the company's stock traded hands, compared to its average volume of 40,096,539. The company has a 50 day moving average price of GBX 98 and a 200-day moving average price of GBX 98.31. The firm has a market capitalization of £2.40 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 5.64 and a beta of 0.80. 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 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 data on Tuesday, March 17th. The real estate investment trust reported GBX 7.30 earnings per share for the quarter. Primary Health Properties had a return on equity of 6.03% and a net margin of 45.95%. On average, sell-side analysts predict that Primary Health Properties will post 7.0875912 earnings per share for the current 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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