Primary Health Properties (PHP)

Sector:

Property Investment Trusts

Index:

FTSE 250

95.35p
   
  • Change Today:
    -1.05p
  • 52 Week High: 106.30
  • 52 Week Low: 88.50
  • Currency: UK Pounds
  • Shares Issued: 1,336.49m
  • Volume: 8,278,395
  • Market Cap: £1,274.35m
  • RiskGrade: 84

Primary Health Properties forward-funds Wales healthcare development

By Josh White

Date: Monday 25 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Healthcare facilities investor Primary Health Properties has contracted with a developer to fund the development and acquisition of a purpose-built primary care centre in Mountain Ash, Rhondda Cynon Taf, Wales, it announced on Monday.
The FTSE 250 company said a wholly-owned subsidiary had contracted to provide development funding for the construction of the property, for a total cost of £4.92m, which would be wholly-owned by Primary Health Properties upon its completion.

It said the property would be let to Cwm Taf Morgannwg University Local Health Board for an initial term of 25 years.

The centre will accommodate two local GP practices, having a combined patient list of 11,500 patients, and provide a range of local health board services, including district nurses, health visitors, public health and other community services.

It said the letting would be accretive to the overall weighted average unexpired lease term of the company's portfolio, and provide for a strong government backed covenant.

The building, which would comprise an area of 1,253square metres, was set to be constructed to a high specification, with the developer contracted to achieve a BREEAM 'Excellent' rating.

Primary Health Properties said the acquisition would increase its portfolio to a total of 485 assets with a gross value of just under £2.4bn, and a contracted rent roll of just under £127m.

"We are delighted to announce this transaction, one of a number of development projects the Group is pursuing at present and which can be funded with the proceeds of our recent successful £100m placing," said managing director Harry Hyman.

"The transaction improves the quality of our portfolio by delivering a new facility with a long unexpired lease term, built to the highest environmental standards.

"We have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio and to support the healthcare systems in these markets through the provision of modern, primary care infrastructure."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PHP Market Data

Currency UK Pounds
Share Price 95.35p
Change Today -1.05p
% Change -1.09 %
52 Week High 106.30
52 Week Low 88.50
Volume 8,278,395
Shares Issued 1,336.49m
Market Cap £1,274.35m
RiskGrade 84

PHP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
47.49% below the market average47.49% below the market average47.49% below the market average47.49% below the market average47.49% below the market average
4% below the sector average4% below the sector average4% below the sector average4% below the sector average4% below the sector average
Price Trend
15.76% above the market average15.76% above the market average15.76% above the market average15.76% above the market average15.76% above the market average
Sector averageSector averageSector averageSector averageSector average
Income
86.35% above the market average86.35% above the market average86.35% above the market average86.35% above the market average86.35% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
77.91% below the market average77.91% below the market average77.91% below the market average77.91% below the market average77.91% below the market average
51.72% below the sector average51.72% below the sector average51.72% below the sector average51.72% below the sector average51.72% below the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 4
Sell 1
Strong Sell 1
Total 10
buy
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PHP Dividends

  Latest Previous
  Q4 Q3
Ex-Div 10-Oct-24 04-Jul-24
Paid 22-Nov-24 16-Aug-24
Amount 1.73p 1.73p

Trades for 31-Oct-2024

Time Volume / Share Price
16:36 32,246 @ 95.35p
16:35 1,003,569 @ 95.30p
16:35 9,681 @ 95.35p
16:35 2,553,695 @ 95.35p
16:35 8,483 @ 95.35p

PHP Key Personnel

CFO Richard Howell
CEO Mark Davies

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