Primary Health Properties Share Discussion Threads

[blueclyde] 19/3/2024 18:21

UK inflation data tomorrow. No idea what the number will be but if it comes in soft I am expecting this to move back to 170p a share. Looks like the easiest double your money if you believe rates will fall. Surprised a lot more equity funds not locking in the yield considering the dividend has went up every year for nearly 30 years. Directors seem to be buying big too. The fact it also pays a dividend quarterly too is attractive as you can compound it nicely.

[masurenguy] 18/3/2024 08:37

Primary Health Properties
Shares Magazine: March 2024

This real estate investment trust invests in the “modern, purpose-built primary care facilities” that the NHS needs to deal with the challenge of an ageing population. Long-term leases to government-backed bodies make for a highly reliable income stream and near-100% occupancy rates; 28 consecutive years of payout growth put PHP among the FTSE’s “dividend royalty”. On a 21% discount to net asset value and on a 7.7% yield, the stock seems cheap. 90p

[linton5] 15/3/2024 10:40

Noticed real estate shares doing quite well this morning hopefully the ship is starting to turn

[mirandaj] 05/3/2024 12:29

Latest update from Edison:

[ygor705] 01/3/2024 13:27

Agree panshangar but shorters may be more sector than stock driven here. As long as sterling holds up in the face of some pretty dire looking uk politics, PHP should be ok at these levels.

[panshanger1] 01/3/2024 12:33

Have held for many years for the rock solid dividend and diversification What always surprises me here is the short positions Relentlessly between 2-3 % for years now - still is last time l checked Never saw this as an obvious candidate for shorting

[ygor705] 01/3/2024 11:31

Just been tidying up my ISA portfolios and decided to chuck out the non-performing dross and balance that with a bit of profit-taking. Had a bit of cash left over so decided to top up here. The one thing about PHP is that it is a rock solid performer and consistently high dividend payer. Its record is solid over decades and deserving of a better rating. Once interest rates start to turn down the share price will slowly pick up......just a matter of being patient.

[affemoose] 28/2/2024 12:43

Good results. SMall reduction in asset value has hit 'profitability' but that's not a cash loss, just a paper one. We're so far below NAV that it really doesn't matter! lol

Profit is Vanity, Cash is Sanity...and the Divi hike and coverage tells us that things are well.

[warranty] 28/2/2024 10:31

It can surely only be the property and asset valuation falls that are taking this down because the overall business looks sound and dividends well covered. Probably just one to accumulate at these levels, take the dividends and wait for the recovery property prices?

[petewy] 28/2/2024 10:16

Healthy results.

[skinny] 28/2/2024 07:06

Harry Hyman, Chief Executive, commented:

"We are encouraged by the organic rental growth achieved in 2023, resulting in another record year with an additional £4.3 million generated from our rent review and asset management activities. The strong rental growth in the year has been reflected in the positive total property return, significantly ahead of the wider property market.

"Furthermore, with over 97% of PHP's debt either fixed or hedged, a strong control on costs, significant liquidity headroom and just one development on site we have limited exposure to further cost increases and development risk.

"The high quality of PHP's portfolio reflects the security and longevity of our income with 89% government funded, near full occupancy and continued rental growth which are key drivers of our predictable cash-flows and underpin our progressive dividend policy with 28 years of continued growth. With a market leading portfolio across the UK, and increasingly in Ireland, we are well positioned for long-term success."

[skinny] 28/2/2024 07:01

EARNINGS AND DIVIDENDS

· Adjusted earnings per share increased by 3.0% to 6.8p (2022: 6.6p) marginally ahead of analyst consensus

· IFRS earnings per share decreased by 52.4% to 2.0p (2022: 4.2p) reflecting non-cashflow losses arising on the valuation of the Group's property portfolio, convertible bond and interest rate derivatives

· Contracted annualised rent roll increased by 3.8% to £150.8 million (31 December 2022: £145.3 million)

· Additional annualised rental income on a like-for-like basis of £4.3 million or 3.0% from rent reviews and asset management projects (2022: £3.3 million or 2.4%)

· EPRA cost ratio 10.7% (2022: 9.9%), representing one of the lowest in the UK REIT sector

· Quarterly dividends totalling 6.7 pence (2022: 6.5 pence) per share distributed in the year, a 3.1% increase

· First quarterly dividend of 1.725 pence per share declared and paid on 23 February 2024, equivalent to 6.9 pence on an annualised basis and a 3.0% increase over the 2023 dividend per share, marking the Company's 28th consecutive year of dividend growth

· The Company intends to maintain its strategy of paying a progressive, fully covered dividend

[panshanger1] 27/2/2024 11:13

A confidence boosting increase to the dividend would help

[warranty] 26/2/2024 22:39

I genuinely fear what’s going to be in the results Wednesday judging by the share price. I’d seen this as one of my safest stocks but clearly that’s not the case so I’m hoping it can reassure and start to recover.

[neilyb675] 26/2/2024 13:58

89.20 - 89.35 (GBX) at 13:56:17
on Market (LSE)

[warranty] 23/2/2024 21:55

Full year results next Wednesday, let’s hope there’s some positive information to settle the share price which is surely too low?

[ntv] 22/2/2024 21:36

Bought a few @90.3 today

[neilyb675] 19/2/2024 15:08

91.45 - 91.55 (GBX) at 15:04:06
on Market (LSE)

[mirandaj] 28/1/2024 15:06

December 2023

[rik shaw] 04/1/2024 07:14

interim dividend of 1.725 pence ex-dividend 11 January 2024, paid 24 February 2024
(3% increase from previous)

[woodhawk] 02/12/2023 14:26

(Quote) Rob Burgeman of RBC Brewin Dolphin contends that anyone adopting the Buffett approach in the UK markets should look at real estate which could benefit as interest rates fall.

He cites one candidate: 'Primary Health Properties owns and rents primary healthcare facilities – typically, purpose built GPs' surgeries. The shares may be down about 25 per cent over the past two years, but they offer a gross yield of around 6.69 per cent – and scope for capital growth.' (unquote)

[mirandaj] 02/12/2023 14:00

Comments on Primary Health in this article:

[woodhawk] 24/11/2023 11:36

Down-marking seems a very strange hobby... but I suppose even morons have to occupy themselves somehow.

[skinny] 24/11/2023 11:19

Sorry, I should have said that its split and has been since early 2018.

[woodhawk] 24/11/2023 11:15

Resolved my query now. Payment into my IG Index ISA account was split into two parts, one of which was slightly delayed, but all received now.