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
  0.00 0.0% 163.40 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
163.90 164.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 139.00 112.40 8.80 18.6 2,170
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 163.40 GBX

Primary Health Properties (PHP) Latest News

More Primary Health Properties News
Primary Health Properties Investors    Primary Health Properties Takeover Rumours

Primary Health Properties (PHP) Discussions and Chat

Primary Health Properties Forums and Chat

Date Time Title Posts
28/7/202111:07PHP with charts987
17/11/201713:40Primary Health Properties-
23/9/200509:19Primary Health Properties345

Add a New Thread

Primary Health Properties (PHP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-07-28 14:13:46164.303,1715,209.95AT
2021-07-28 14:13:46164.301,9683,233.42AT
2021-07-28 14:12:09164.301,2432,042.25AT
2021-07-28 14:11:04164.302,4724,061.50O
2021-07-28 14:10:55164.20266436.77AT
View all Primary Health Properties trades in real-time

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 163.40p.
Primary Health Properties Plc has a 4 week average price of 153.90p and a 12 week average price of 146.40p.
The 1 year high share price is 164.70p while the 1 year low share price is currently 138.20p.
There are currently 1,328,251,653 shares in issue and the average daily traded volume is 6,396,569 shares. The market capitalisation of Primary Health Properties Plc is £2,170,363,201.
paulboz: Thanks, Chuck. Not what I wanted to hear but better to be aware of this than not. I may open an HL account and put my PHP shares in there.
makinbuks: Hi 3800, apologies for the slow response. I know nothing more than what was in the announcement. In addition to the parts you have quoted, I specifically noted: "Rent reviews and asset management projects completed in the year added £2.0m or 1.6% (2019: £1.9m or 1.5%) to the contracted rent. However, we have seen a marginal reduction in the annualised rate of growth on rent reviews in 2020 at 1.8% (2019: 1.9%) and the outlook is becoming more muted for pharmacy rents as the consequences of the COVID-19 crisis become more apparent." Many years back, buoyed by the success of my investment in PHP I went into another stock, the name of which escapes me right now, but they were surgeries and pharmacies with the latter providing more excitement. They went bust. Not suggesting for a second that will happen here. I continue to hold a small amount of PHP
makinbuks: I was just a little concerned by the statement. The fact that the dividend in 2020 didn't compensate for the share price fall may be a feature for a few years to come as it trades so high above NAV. The rate of increase in rents slowed and there are problems with UK pharmacies. The dividend in 2020 was uncovered (just). I didn't like that virtually all KPI's were "adjusted" - I need to look at that more carefully. On the positive side, the pipeline looks strong, LTV was down and has plenty of headroom. I think the yield compression story has run its course. What comes next? Ether a prolonged period of stagnant share price or a big fall back to NAV as inflation takes off.
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
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
ADVFN Advertorial
Your Recent History
Primary He..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210729 06:04:42