Share Name Share Symbol Market Type Share ISIN Share Description
Primary Health Properties Plc LSE:PHP London Ordinary Share GB00BYRJ5J14 ORD 12.5P
  Price Change % Change Share Price Shares Traded Last Trade
  1.40 0.95% 148.40 4,286,883 16:35:21
Bid Price Offer Price High Price Low Price Open Price
148.00 148.40 149.80 146.80 147.40
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 121.30 -70.20 -6.50 1,969
Last Trade Time Trade Type Trade Size Trade Price Currency
17:46:10 O 126,164 148.40 GBX

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Date Time Title Posts
20/1/202114:56PHP with charts959
17/11/201713:40Primary Health Properties-
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Primary Health Properties (PHP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-01-22 17:47:15148.40126,164187,227.38O
2021-01-22 17:41:19148.40217322.03O
2021-01-22 17:12:14148.38351520.81O
2021-01-22 17:10:57148.4019,58529,063.55O
2021-01-22 16:53:31147.572,3133,413.29O
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Primary Health Properties (PHP) Top Chat Posts

Primary Health Properties Daily Update: Primary Health Properties Plc is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker PHP. The last closing price for Primary Health Properties was 147p.
Primary Health Properties Plc has a 4 week average price of 144.80p and a 12 week average price of 138.20p.
The 1 year high share price is 167.60p while the 1 year low share price is currently 120.40p.
There are currently 1,327,036,460 shares in issue and the average daily traded volume is 3,171,374 shares. The market capitalisation of Primary Health Properties Plc is £1,969,322,106.64.
makinbuks: The premium to NAV will disappear when interest rates rise in my view, but you have a while to wait before that happens. As a source of income if you can take a very long view and not worry what the price is other than your entry it seems pretty secure to me
makinbuks: Thanks Perfect, yes Edison as similarly positive in a note today. Hasn't filtered into the share price yet. To be clear I think its a good deal well priced for PHP and the point Williamcooper makes is very valid
goliard: Isnt the question for shareholders whether the price being paid is fair too? Does it compare favourably with those other deals?
williamcooper104: Harry H could have sold his ManCo to any number of large fund managers wanting to get into alternative CRE (M7 and Tritax have just been sold) So question as a shareholder - is it best to buy ManCo or see it sold to someone else Now means that growing asset base will be only if in best interests of PHP and not only if it increases fees to ManCo
perfect choice: Thanks Makinbuks, understand the point now and yes brings PHP into the development cost overrun risk area now for example. But also looks a good improved return situation, be it with more risk on the development side, see PHP article on news today: H ttps://
makinbuks: I meant that Nexus take development risk and traditionally PHP come in at the point where the project is fully earnings ready. That was quite a sensible split and made PHP a pretty low risk vehicle attracting investors on that basis. A few might now reconsider that.
makinbuks: goliard, part from your final comment on which i hold no view, I completely agree. Indeed has Nexus ever done anything other than transact business for PHP? I have long believed we could have been much better off with the manager and developer in house and that Harry was effectively skimming off the top. However, PHP has been a very good share for me over the years so the fact it could have been even better is a minor irritation. Also I support this step although one word of caution: this changes the risk profile of PHP significantly
irenekent: The continuing short interest in PHP is an on-going worry. Will this acquisition make any difference to anybody but Harry Hyman? If this situation puts a rocket under the share price and dividend it will be justified. Otherwise there will be only one winner.
goliard: Nice for Harry Hyman who owns Nexus but a bit too cozy in my view. Why not terminate the Management Agreement instead and offer the relevant people jobs instead of buying the Management Company? It is basically Harry's way of retiring and getting out before CGT rates increase. Then what sort of nice salary and incentive package will he have in his new role as CEO of PHP I wonder? So PHP buys his business but then also pays him to run PHP? That is just like buying a property and then paying rent for it too. Maybe I will be proven wrong and he will work for £1 per year... or maybe not. Next step will be a merger with Assura.
mirandaj: Hargreaves Lansdown – comment in part: “It's been a transformational year for Primary Health Properties (PHP). The merger with rival MedicX has hugely increased PHP's size. That's created opportunities for cost savings, both in the cost of debt and operating costs. That should provide a long term shot in the arm for profits. As a REIT, PHP has to pay out the vast majority of profits as a dividend so benefits will ultimately feed through to investors' pockets. Looking to the future we think PHP has several features which underpin long, term income paying potential. Investment in out-of-hospital care, which includes the GP and community healthcare services which use PHP's properties, is set to run ahead of wider NHS spending. Meanwhile the increased interest in mega-surgeries which bring together multiple primary care services bodes well for PHP's purpose built properties. With 90% of the group's rent roll funded by the NHS or its Irish equivalent, we view the group's tenants as lower risk. An average lease length of 12.8 years should mean rental income is secure for years to come. There are some good reasons for caution too though. Loan-to-value is high by industry standards at 44.2% - and that means that, while neither look likely at the moment, an uptick in interest rates or widespread increases in rental arears would be painful. LTV could fall as the group invests in new assets at lower multiples, but that will take time. The very fact of the group's REIT structure also means investors are likely to be asked to fork out extra cash from time-to-time. Because REITs have to pay out most of their profits it's difficult for them to fund growth organically. That means they often sell shares to fund new acquisitions, potentially diluting existing shareholders. However, the biggest challenge facing investors in our opinion is a PE ratio of 26.6, which is well above the long term average. A high share price has also driven the yield down to 3.6%, below the market average, with only modest growth in the future. That means that although we continue to see PHP as potentially interesting for income seeking portfolios, investors will need to take a long term view, and be prepared for ups-and-downs along the way.”
Primary Health Properties share price data is direct from the London Stock Exchange
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