Primary Health Properties (PHP)

Sector:

Property Investment Trusts

Index:

FTSE 250

94.75p
   
  • Change Today:
    -1.30p
  • 52 Week High: 106.30p
  • 52 Week Low: 85.50p
  • Currency: UK Pounds
  • Shares Issued: 1,336.49m
  • Volume: 1,191,352
  • Market Cap: £1,266.33m
  • RiskGrade: 84

Berenberg lowers target price on Primary Health Properties

By Iain Gilbert

Date: Tuesday 28 Feb 2023

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg lowered their target price on real estate group Primary Health Properties from 165.0p to 125.0p on Tuesday as it said it continues to see "better opportunities" elsewhere.
Berenberg stated Primary Health Properties' full-year results reflected "another resilient year", demonstrating the benefits of its "high-quality tenant counterparties and assets", which remain "critical" to national infrastructure.

Despite this resilience and its recent acquisition of Axis, Berenberg expects near-term expansionary activity to remain limited by current market conditions and above-average leverage.

The German bank also expects PHP to be affected by "some additional negative valuation impacts" in 2023 and for debt refinancing to pressure earnings growth from 2025.

"As such, although the shares should continue to provide solid income for risk-averse investors, we continue to think that there are better opportunities, for growth or income, elsewhere in the sector," said Berenberg, which stood by its 'hold' rating on the stock.

"PHP trades at a CY 2023E P/NTA of 1.01x, a 33% premium to our coverage universe on 0.76x and a 16% premium to close peer Assura. The shares trade at a 2.3% premium to our trough NTA forecast and yield 6.1%."





Reporting by Iain Gilbert at Sharecast.com

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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 94.75p
Change Today -1.30p
% Change -1.35 %
52 Week High 106.30p
52 Week Low 85.50p
Volume 1,191,352
Shares Issued 1,336.49m
Market Cap £1,266.33m
RiskGrade 84

PHP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
37.8% below the market average37.8% below the market average37.8% below the market average37.8% below the market average37.8% below the market average
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average
Price Trend
38.77% below the market average38.77% below the market average38.77% below the market average38.77% below the market average38.77% below the market average
53.33% below the sector average53.33% below the sector average53.33% below the sector average53.33% below the sector average53.33% below the sector average
Income
87.31% above the market average87.31% above the market average87.31% above the market average87.31% above the market average87.31% above the market average
85.19% above the sector average85.19% above the sector average85.19% above the sector average85.19% above the sector average85.19% above the sector average
Growth
81.68% below the market average81.68% below the market average81.68% below the market average81.68% below the market average81.68% below the market average
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 4
Sell 1
Strong Sell 1
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PHP Dividends

  Latest Previous
  Q3 Q2
Ex-Div 04-Jul-24 28-Mar-24
Paid 16-Aug-24 17-May-24
Amount 1.73p 1.73p

Trades for 19-Jul-2024

Time Volume / Share Price
16:35 3,548 @ 94.75p
15:36 12 @ 95.00p
16:35 264,612 @ 94.75p
16:35 527 @ 94.75p
16:35 963 @ 94.75p

PHP Key Personnel

CFO Richard Howell
CEO Mark Davies

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