Primary Health Properties Share Discussion Threads

[ygor705] 06/3/2012 18:28

Swap mark-to-market figures are bookkeeping entries that should work themselves back to zero over the life of the deal. Also, cant' believe that the company would swallow a break charge unless the refinancing rate was very attractive. The 4% loan over 7 years from Aviva caught my eye. That looks very tasty. Would expect the work done on refinancings to reflect in this years numbers.

[topvest] 04/3/2012 09:37

Looking at the accounts, I'm surprised they haven't tried to show underlying EPS as diluted EPS is 4.3p lower due to a swap termination charge which shows up in the interest line if you dig around in note 19! Add that back in and EPS is 18.7p which covers the dividend. This is the only reason for missing the broker forecast. Add it back in and they beat it. Odd they haven't flagged this up, but I suppose there could be more swap termination charges going forward as they re-finance. Anyway, I'm happy to hold - good company this one and I've held for most of the last 15 years, having sold for 12m or so when covenants looked dodgy. A 15 year unbroken dividend increase record is quite good in the period they have had to operate through.

[phillis] 02/3/2012 15:35

xd 9p next Wed

[topvest] 21/2/2012 13:52

The results were pretty solid, although underlying EPS growth is becoming more difficult to find!

[spacecake] 21/2/2012 13:18

Final results out today...

Missed consensus eps forecast for 2011
Forecast 16.93p
Actual 14.54p which was less than last years 14.62p.
Increased dividend.

Outlook
"The Board is confident in the ability of the current portfolio to generate growth. In addition, the Group has a strong pipeline of acquisition opportunities to further enhance the portfolio."

[ygor705] 17/2/2012 09:29

Been out of this one for a few years but had a peep at the recent figures yesterday. Looks interesting. 6 non-executive directors and an MD who's got another job. Says it all really!!

[beardmore] 23/12/2011 11:35

Comfortingly dull and boring with an excellent yield. (Just like Lloyds Bank of yesteryear!) Anyway, I'm pleased to hold PHP.

[johnnylig] 23/12/2011 10:06

Last trade of the year just added a few extra of this old favourite in the hope of future christmas bonuses as the years go by!

[jazz319] 15/11/2011 19:14

Under water with some of the "brighter stars" in this crazy market. Long term investor for income over many years with just a few speculative AIM punts I sleep easy with this one. Core holding for me also.

[johnnylig] 15/11/2011 08:51

Losos you are right! PHP may not be the brightest star in the market but it maintains a steady course, which in these difficult times makes it a continuing core holding as far as I am concerned.

[losos] 10/11/2011 15:57

In a time of huge uncertainty and mind bogling errors in some euro countries financial figures it is nice to see that PHP's share price is relatively stable which in my opinion comes down to their business model. They don't do 'speculative build' they only have the NHS as a tennant (OK a few pharmacies as well) and best of all they have NO voids on their entire estate. How many property development companies can say that?

[dgwinterbottom] 03/10/2011 08:27

That accounts for the marked rise on Friday perhaps!!

[doe808] 02/10/2011 12:11

Tipped in Fridays IC

[spacecake] 27/8/2011 19:08

Thats quite a come back from the recent drop if only the rest of my holdings could do the same.

[losos] 07/3/2011 10:16

mctmct - "XD yesterday but not showing on ADVFN?"

The reason is that following on from the LSE fiasco with their new Millenium system (Remember they had to close the exchange for half a day on 25th. Feb.) the XD info has been 'lost'!!!!! I spoke to ADVFN technical bods about this and they were hoping that the LSE might get their act together and restore the XD info into the data streaming to ADVFN but there was no time scale and it's possible it might never happen. And we talk about 'progress' in the world, more like going backwards to me, but in this case it aint ADVFN's fault lol.

The thread on the Free BB is here:-

[mctmct] 03/3/2011 13:44

XD yesterday but not showing on ADVFN?

[makingheaps] 25/2/2011 16:38

I think Questor pretty much says it all. 5.5% yield from a very secure income source

[muffinhead] 25/2/2011 13:08

Probably preaching to the converted here........

[muffinhead] 25/2/2011 12:35

Primary care trusts to be closed down and doctors to get their hands on the NHS budget to commission hospital services


This is very good news for PHP because the Doctors will modify or expand their property to expand surgical services and leave all but the more serious stuff to the hospitals

[mw8156] 24/2/2011 21:42

Wonder if the new management agreement isn't too generous to the managers - what can be difficult in arranging finance for and buying GP premises and negotiating rents with captive tenants?
also concerned about sources of future growth with worries about how new health centres can be afforded in austerity Britain even though many existing gp premises are apparently not fit for purpose.

[losos] 24/2/2011 17:40

pifedayo - I thought they were pretty good also. Ex-Div 2nd. March could be worth topping up methinks.

[pifedayo] 24/2/2011 09:06

Excellent Final results and increased dividend.

[pifedayo] 14/2/2011 10:55

More likely to be the anticipated final dividend is being factored in.

[losos] 13/2/2011 17:29

This has taken a bit of dive in the last few days, is it the rumoured 'merger' (With Assura) or something else? - Any one got any thoughts ? If it drops a little more the yield will be very tempting lol

[doe808] 11/12/2010 11:00

Assura shareholders keen on £360m merger with Primary Health Properties