Share Name Share Symbol Market Type Share ISIN Share Description
Primary Health Properties LSE:PHP London Ordinary Share GB00BYRJ5J14 ORD 12.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -4.00p -3.51% 110.00p 110.00p 110.20p 112.40p 110.00p 112.00p 1,359,596 16:35:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 72.5 91.9 15.3 7.2 686.68

Primary Health Properties Share Discussion Threads

Showing 1051 to 1075 of 1075 messages
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Prospectus for Firm Placing, Placing, Open Offer and Offer for Subscription - HTTPS:// Equity Placing and Open Offer Presentation - HTTPS://
Assuming PHP were to successfully raise £100m, this would represent an increase of 14.8% in their share capital. If they were to successfully raise £125m, this would represent an increase of 18.5% in their share capital. Under the Open Offer portion of the fundraising, existing shareholders are entitled to 1-new-share-for-every-17-existing-shares. This represents an increase of just 5.9%. New shares will not qualify for the next dividend payment due in May.
Proposed £100m raise to fund acquisitions - HTTPS:// The Board of PHP today announces a proposed share issue to raise gross proceeds of up to £100 million (approximately £97 million net of expenses) through the issue of up to 92,592,592 new Ordinary Shares by way of a Firm Placing and Placing, Open Offer and Offer for Subscription at a price of 108 pence per New Share. The Board will have the ability to increase the size of the Issue by up to 25 per cent. should there be sufficient demand. The Issue Price represents a discount of 5.3 per cent. to the Closing Price of 114 pence per Ordinary Share on 22 March 2018... Summary · Issue of 46,296,296 new Ordinary Shares through a Firm Placing raising gross proceeds of £50 million. The Firm Placing is underwritten by Numis and Peel Hunt. · Issue of up to 46,296,296 new Ordinary Shares pursuant to a Placing, Open Offer and Offer for Subscription to raise gross proceeds of up to £50 million. · Qualifying Shareholders are being offered the opportunity to participate in the Open Offer on the basis of 1 Open Offer Share for every 17 Existing Ordinary Shares. · Qualifying Shareholders are also being offered the opportunity to subscribe for New Shares in addition to their Basic Entitlements under the Excess Application Facility. · The Board will have the ability to increase the size of the Capital Raising by up to 25 per cent should there be sufficient demand so that the gross proceeds would be approximately £125 million. · The Capital Raising will enable the Company to continue delivering its long-term strategy of growing the portfolio through selected property acquisitions in line with its prudent acquisition policies whilst maintaining gearing at a conservative level and supporting its progressive dividend policy. · The Board's medium to long term target is to operate with leverage in the range of 45 per cent. to 65 per cent. of gross property value and in the short to medium term no higher than 60 per cent.. · The Board is confident that GPs will continue to be at the forefront of the development and delivery of integrated care models, with increased numbers of services delivered from local community settings to enable both the NHS and the HSE to modernise the provision of care, meet their patient choice agendas and provide care in a cost effective manner. PHP's long standing track record of delivering flexible, modern accommodation and continuing to invest to improve and expand its facilities provides the foundation from which PHP can capitalise on the continued demand for healthcare real estate. · The Group has taken its first steps into healthcare real estate in the Republic of Ireland and now owns three completed properties with 16 tenants, comprising nearly 118,500 square feet of lettable space, and is working to acquire or develop additional premises in the Republic of Ireland. · The proceeds will be selectively applied alongside existing and future debt facilities to generate a growing return and to maintain a progressive dividend policy, including: o initially, where possible, to pay down sums drawn on the Group's revolving debt, totalling £129 million as at 31 December 2017, maximising treasury management efficiency and allowing the Group to re-draw sums as necessary to fund existing acquisition, development and asset management commitments as envisaged below, and further as investment opportunities require; o to fund transactions from PHP's current acquisition and development pipeline totalling some £81.8 million in the UK and some €79.0 million in the Republic of Ireland; and o to fund existing asset management projects totalling £1.5 million as at 31 December 2017. · The Capital Raising is conditional on, amongst other things, the passing of the Resolutions at the General Meeting. If the Resolutions are passed and the other conditions to the Capital Raising are satisfied, it is expected that dealings in the New Shares will commence at 8.00 a.m. on 19 April 2018.
How do we get rid of that ridiculous price spike that's messed the chart up. Wish it had traded that high
Good RNS this am showing clearly what the yield is after operating and interest cost. Can anyone tell me if the repayments on the borrowing includes capital repayments.
Rent roll of 4.91% and financing costs of 4.09%. While trading at a premium it would make sense to issue new shares to finance the £150m pipeline of acquisitions. I think there would be good take up for a placing but as interest rates rise I think the premium will disappear so they would be wise to ta the market now
"Steady stuff." which is - pardon the pun - just what the doctor ordered :o)
Steady stuff.
semper vigilans
Preliminary Results - HTTPS:// FINANCIAL HIGHLIGHTS · EPRA earnings1, 3 increased by 15.7% to £31.0m (2016: £26.8m) · EPRA earnings1, 3 per share increased by 8.3% to 5.2p (2016: 4.8p) · Net rental income increased by 7.1% to £71.3m (2016: £66.6m) · IFRS profit before tax increased by 110.3% to £91.9m (2016: £43.7m) · IFRS earnings1 per share increased by 96.2% to 15.3p (2016: 7.8p) · EPRA net asset value ('NAV') per share2, 3 increased by 10.5% to 100.7p (2016: 91.1p) · IFRS net asset value per share2 increased by 13.4% to 94.7p (2016: 83.5p) · Increase in EPRA net assets and dividends paid in the year is equivalent to 14.9p per share, an increase of 16.4% (2016: 8.5p up 9.7%) · Total dividends of 5.25p per share distributed in the period (2016: 5.125p), an increase of 2.4% and the 21st successive year of dividend growth · First 2018 quarterly dividend of 1.35p per share, payable on 23 February 2018, equivalent to 5.4p on an annualised basis and a 2.9% increase over dividends distributed in 2017 OPERATIONAL HIGHLIGHTS · Surplus on property valuation of £64.5m (2016: £20.7m), growth of 5.0% (2016: 1.7%); portfolio net initial valuation yield of 4.91% (2016: 5.17%) · Total portfolio valued at £1.362bn as at 31 December 2017 (2016: £1.220bn) · Ten properties acquired in year for £71.9m, with a large average lot size of £7.2m and average patient size of c.14,000, adding £3.7m to the contracted rent roll · Strong pipeline of targeted acquisitions of approximately £150m · Average annualised uplift of 1.1% on rent reviews agreed in the period, resulting in an uplift in rent of £0.5m p.a. (2016: 0.9% with an uplift of £0.3m) · 99.7% of portfolio let with 13.2 years weighted average unexpired lease term (2016: 13.7 years) and only 0.6% of rent due to expire in the next three years · Group's average cost of debt reduced by 56bps to 4.09% (2016: 4.65%) · Group's weighted average maturity of debt facilities extended to 6.3 years (2016: 5.1 years) · Loan to value ratio reduced to 52.9% (2016: 53.7%) Harry Hyman, Managing Director of PHP, commented: "I am delighted to report that PHP once again increased its total dividend, its 21st successive year of dividend growth. Increasing our income and dividends is key to our strategy as a modern healthcare REIT. Importantly, we have continued our progressive dividend policy into 2018 by increasing the first quarterly payment, which on an annualised basis reflects a return of 5.4p per share. PHP is providing capital for the modernisation of the primary healthcare estate both in the UK and Ireland. Our well-financed and disciplined approach to investment and active asset management is delivering for shareholders. This is reflected in the strong performance of all of key indicators across the Company. PHP is very active in its marketplace and has a strong targeted pipeline that meets our criteria. This bodes well for 2018 and beyond. We look forward to the future with confidence."
A quick look at the financials comparing PHP to Assura (which I hold) looks like:- PHP NAV per share 83.5 share price 113.6 premium 36% Assura NAV per share 49.4 share price 60.9 premium 23% What am I missing please someone? Best regards SBP
One of the 'Tips of the Week' in Investors Chronicle... PHP gains momentum (11/1) - HTTPS:// ...IC VIEW Rental growth is still rather pedestrian, although new construction will help to lift rates over time. The real attraction lies in the quality of the revenue stream and an attractive dividend that is now covered by rental income. We also like Assura (AGR) and MedicX Fund (MXF), although shares in PHP are trading at the smallest premium of all three. Buy.
Property related shares have been a little weak this weak so just normal market movements in my opinion - nice to see the price end flat on xd day
These shares became ex-div today. The share price has in fact gone down over past few days. I would have thought that with divi to come they would have gone up slightly. Can anyone explain this to me?. Is it just market forces. My other reit has gone up nicely with no ex div date imminent.
Well it does present a good buying opportunity 😄.
Thanks for that. I will have to study for a while to fully understand. I am concerned about the steadily falling share price
Hardman and Co interview with Analyst Mike Foster discussing Primary Health Properties INTERVIEW - Or read the Q&A -
Primary Health is such a good solid company with dividends now 4.5% - why is eveybody selling???
With interest rate hike, these were bound to drop a bit but the step down from previous high of 123+ seems dramatic. Mind you I never really understood how the high was justified as Income wasn’t increasing that much. Not sure how to call where they are likely to be in a few months time. Any thoughts?
Thanks. Does seem a bit more than usual ex div drop. Might be good time to add ... I remain a long term holder/believer.
Could just be ex div. price stayed within the channel, had risen sharply and has since returned to its steady rise.
Hmmm. Why the dip? Any ideas?
Half Year Results interview (5m54s)- HTTPS:// FD could do with a few lessons on reading from a cue card! Perhaps presenting is not his natural forte.
Don't get me wrong. Boring is beautiful in my book. Quite happy with the income & the odd %age move in the share price now & again.
not that boring speedsgh!
A nice, boring, steady hold during uncertain times imo
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