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Equity Bottom-Up

Primary Health Properties / Equity Bottom-Up

Interim results showed Primary Health Properties (PHP) to be well on track to meet its fully covered 6.7p DPS target, the 27th consecutive year of growth. Organic rent growth continues to increase, borrowing costs are nearly all fixed/hedged and the cost ratio is among the lowest in the sector. Despite this, the prospective dividend yield is now c 7%.

Interim results showed Primary Health Properties (PHP) to be well on track to meet its fully covered 6.7p DPS target, the 27th consecutive year of growth. Organic rent growth continues to increase, borrowing costs are nearly all fixed/hedged and the cost ratio is among the lowest in the sector. Despite this, the prospective dividend yield is now c 7%.

Primary Health Properties - Sustaining dividend growth

Edison Investment Research is terminating coverage on Vivesto (VIVE), Diurnal Group (DNL), Palace Capital (PCA), Primary Health Properties (PHP), Silver One Resources (SVE), Induction Healthcare (INHC) and Axiom European Financial Debt (AXI). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant. Previously published reports can still be accessed via our website.

Edison Investment Research is terminating coverage on Vivesto (VIVE), Diurnal Group (DNL), Palace Capital (PCA), Primary Health Properties (PHP), Silver One Resources (SVE), Induction Healthcare (INHC) and Axiom European Financial Debt (AXI). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant. Previously published reports can still be accessed via our website. 

Primary Health Properties - Termination of coverage

As expected, Primary Health Properties (PHP) reported a strong financial and operational performance in H122 and is well into its 26th year of unbroken DPS growth. The company is ‘encouraged’ by strengthening rental growth and continues to selectively source accretive investment opportunities. With 95% of borrowings fixed rate or hedged, we expect further growth.

As expected, Primary Health Properties (PHP) reported a strong financial and operational performance in H122 and is well into its 26th year of unbroken DPS growth. The company is ‘encouraged’ by strengthening rental growth and continues to selectively source accretive investment opportunities. With 95% of borrowings fixed rate or hedged, we expect further growth. 

Primary Health Properties - Rental growth further accelerates

Coinciding with its FY21 AGM, Primary Health Properties (PHP) has provided a trading update for the quarter ending 31 March 2022 (Q122). During the period it made good progress in converting its investment pipeline, which continues to grow, while organic rental growth accelerated, in part driven by the inflationary environment. With ample liquidity and 97% of debt fixed/hedged, it is well placed for further growth.

Coinciding with its FY21 AGM, Primary Health Properties (PHP) has provided a trading update for the quarter ending 31 March 2022 (Q122). During the period it made good progress in converting its investment pipeline, which continues to grow, while organic rental growth accelerated, in part driven by the inflationary environment. With ample liquidity and 97% of debt fixed/hedged, it is well placed for further growth. 

Primary Health Properties - Progress with organic and acquisition-led growth

Income visibility and security continue to be the hallmark of Primary Health Properties (PHP), now in its 26th year of unbroken dividend growth. FY21 showed strong progress despite a competitive market for acquisitions, driven by rent reviews and asset management, and operational and financial savings from management internalisation and debt refinancing.

Income visibility and security continue to be the hallmark of Primary Health Properties (PHP), now in its 26th year of unbroken dividend growth. FY21 showed strong progress despite a competitive market for acquisitions, driven by rent reviews and asset management, and operational and financial savings from management internalisation and debt refinancing.

Primary Health Properties - Continuing strong DPS growth well supported

United Kingdom

Primary Health Properties PLC purchases freehold and long lease healthcare properties in the United Kingdom.  The Company leases the properties to health authorities and the National Health Service.

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Primary Health Properties (PHP LN)

Primary Health Properties - Sustaining dividend growth

Interim results showed Primary Health Properties (PHP) to be well on track to meet its fully covered 6.7p DPS target, the 27th consecutive year of...

Edison Investment Research

Primary Health Properties - Termination of coverage

Edison Investment Research is terminating coverage on Vivesto (VIVE), Diurnal Group (DNL), Palace Capital (PCA), Primary Health Properties (PHP),...

Edison Investment Research

Primary Health Properties - Rental growth further accelerates

As expected, Primary Health Properties (PHP) reported a strong financial and operational performance in H122 and is well into its 26th year of...

Edison Investment Research

Primary Health Properties - Progress with organic and acquisition-led growth

Coinciding with its FY21 AGM, Primary Health Properties (PHP) has provided a trading update for the quarter ending 31 March 2022 (Q122). During the...

Edison Investment Research

Primary Health Properties - Continuing strong DPS growth well supported

Income visibility and security continue to be the hallmark of Primary Health Properties (PHP), now in its 26th year of unbroken dividend growth....

Edison Investment Research

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