Primary Health Properties Share Discussion Threads

[epicwarlock] 26/5/2023 08:12

This seems like a decent long term earner to tuck away at these levels

[epo001] 22/5/2023 13:13

(Iweb), the PID arrived a day or so after the non PID. I have my holding set to auto reinvest and the non PID part was auto reinvested today, doesn't look like they were taking the p*ss with charges so I'll see what they charge for reinvesting the rest.

[mackie] 22/5/2023 09:30

To date have only received the ordinary div, no sign of the PID. Are others experiencing the same?

[warranty] 15/3/2023 20:15

Holding up well in the market turmoil, incredible to have anything in the blue for the last two days!!

[williamcooper104] 09/3/2023 14:08

And of course For material amounts of non-recourse debt you will look to/need to refinance that 1 to 2 years before the actual maturity - otherwise you get into going concern conversations with your auditors (unless you've got undrawn revolvers/cash that can cover any maturity within 12 months of year end - undrawn revolvers can be problematic if you are pushing towards covenants - it's much easier for a bank to deny you a drawing than call a covenant to get money back)

[williamcooper104] 09/3/2023 14:06

That would perhaps me why after HMSO (and probably Cap and Regional) PSH are usually the most shorted reit - usually about 3-4 percent disclosed shorts - so it's not a huge level but none the less notable The divi coverage from memory isn't a lot above 1 Until a few years ago PSH was my longest ever held REIT

[spectoacc] 09/3/2023 13:41

Question for PHP fans - if the earnings yield is c.4.8%, and the gearing 45%, what happens when the debt cost keeps climbing?

Yes, I know they keep mentioning the 7 years average duration, but the clue's in "average" - debt costs will rise futher.

And yes, I get that they get a few % increase in rent every year, with 90% of it pseudo-govnt, but what happens if a Labour govnt decides rents need to be frozen, to eg put more money into cancer care? Who will stand up for PHP shareholders?

I just think/fear there's more risk here than meets the eye, with little chance of growing out of it by acqn or development. The move to do more in Ireland is probably wise tho.

Thoughts?

[wad collector] 03/3/2023 18:28

IC comment on the results , worrying about the debt servicing costs but pointing out the ideal tenants that they have and concludes HOLD.

[epo001] 24/2/2023 13:29

My ISA provider does it for me. Why do people whine on forums rather than taking it up with their broker grrrr.....

[rik shaw] 23/2/2023 18:40

I've never had an issue. I've just received PHP payout as expected. It may depend which broker you're with. But I've found for any REITS in ISA if there has been a temporary deduction it been paid in to the ISA later so I've never had to claim back.

[bodgeman] 23/2/2023 17:00

Here we go again. Property investment distributions. Why cant we just get a straight forward dividend payment from reits! Oh I know, because it just needs to be complicated.

I bet most people doent even bother reclaiming the 20% deducted at source when the holdings are in an isa. So not only do you get 20% less return - if you do manage to complete the R40 and get the money back it's not in your isa. Putting it back in you isa ( where it should have been in the first place) comes off your annual allowance.

Which government muppet made up this stupid convoluted tax legislation.

There, I feel better after that rant! UNTIL NEXT TIME grrrrr....!

[skinny] 22/2/2023 07:17

.




Record year for rental growth driving performance

Primary Health Properties PLC ("PHP", the "Group" or the "Company"), a leading investor in modern primary health facilities, announces its audited preliminary results for the year ended 31 December 2022.

Harry Hyman , Chief Executive, commented:

" The Group's continued operational and financial resilience throughout the year reflects the security and longevity of our income which are important drivers of our predictable cash-flows and underpin our progressive dividend policy as we enter the 27(th) year of continued dividend growth.

"We are encouraged by the rental growth experienced in the year from rent reviews and asset management projects and believe PHP will be a beneficiary of the significant rise in construction costs seen in recent years. Furthermore, with the majority of PHP's debt either fixed or hedged for a weighted average period of just over seven years, a strong control on costs and just one development on site we have limited exposure to further cost increases and development risk.

"In the longer term, the ageing and growing demographic of the UK and Irish populations means that the health services in both countries will be called upon to address more long-term, complex and chronic co-morbidities. Consequently, the Government needs to respond and invest in new structures to deliver more healthcare in primary care and community settings and away from over-burdened hospitals. PHP stands ready to play its part in delivering and modernising the real estate infrastructure required to meet this need."

more.....

[warranty] 21/2/2023 18:08

I think it’s just an induction of PHP’s intent to increase their footprint in Ireland Bruce and I see it as a good move. Maybe Brexit and possible barriers to expansion also played a part. Clearly we’ll find out more of the details of the purchase over time but some of it should come out tomorrow. Let’s hope the news is good?

[bruce58] 20/2/2023 12:53

warranty - I will be interested to see the following:
The rational for taking on a workforce and the costs involved especially as most of Axis Technical Services Limited work load would appear to be for PHP.
Whether they are taking on a pension liability and if so how much.
What this means for the future direction and operation of the company.

[skinny] 20/2/2023 12:20

Yes GLG have been steadily adding since the results :-

[dgwinterbottom] 20/2/2023 11:12

Warranty - I echo your thoughts but it pains me to see the fact that PHP is on the list of most popular shares for being shorted.

[warranty] 20/2/2023 09:43

So anybody any thoughts on what results will be like on Wednesday? Old PHP is in the doldrums at the moment and we need some good news to spark a bit of life into her and the share price Surely there can’t be many more solid businesses than this one in difficult times?

[panshanger1] 02/2/2023 13:00

Strong update at target healthcare today

[williamcooper104] 16/1/2023 21:09

Interesting Labours proposal to nationalise GPs - wonder if this would turn PHPs leases into direct government backed convented Probably not a huge upside given valuations already ascribe a very low probability of default

[perfect choice] 05/1/2023 07:57

3.08% increase in dividend price.

[rik shaw] 05/1/2023 07:26

'The Company announces that the first quarterly interim dividend in 2023 of 1.675 pence per ordinary share of 12.5 pence each will be paid as to 1.34 pence by way of a Property Income Distribution ("PID") and the remainder as an ordinary dividend on 23 February 2023 to shareholders on the register on 13 January 2023.'