Primary Health Properties (PHP) is the leading investor in modern healthcare properties in the UK & Ireland. PHP is a UK based Real Estate Investment Trust (REIT) with a clear objective to create progressive returns to shareholders through a combination of earnings growth and capital appreciation. PHP achieve this by investing in healthcare real estate let on long-term leases, backed by a secure underlying covenant funded mostly by government bodies. The Group's portfolio comprises over 480 primary healthcare facilities, both completed and committed, the majority of which are GP surgeries, with other properties let to NHS organisations, pharmacies and dentists.
Analyst Upgrades and Downgrades
Separately, Barclays decreased their price objective on Primary Health Properties from GBX 160 ($1.93) to GBX 140 ($1.69) and set an "overweight" rating for the company in a research note on Monday, July 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Primary Health Properties presently has an average rating of "Moderate Buy" and a consensus price target of GBX 167.20 ($2.02).
Primary Health Properties Stock Performance
Shares of PHP opened at GBX 146.10 ($1.77) on Wednesday. The stock has a 50-day simple moving average of GBX 141.29 and a 200-day simple moving average of GBX 142.50. The company has a debt-to-equity ratio of 84.47, a quick ratio of 0.62 and a current ratio of 0.96. The stock has a market capitalization of £1.95 billion and a PE ratio of 1,331.36. Primary Health Properties has a 1 year low of GBX 129 ($1.56) and a 1 year high of GBX 170.20 ($2.06).
Primary Health Properties Dividend Announcement
The firm also recently announced a dividend, which will be paid on Friday, August 19th. Investors of record on Thursday, July 7th will be paid a dividend of GBX 1.63 ($0.02) per share. This represents a yield of 1.17%. The ex-dividend date is Thursday, July 7th. Primary Health Properties's payout ratio is 72.50%.