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| 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
|
|
|---|---|---|---|---|---|
| -0.20 | -0.19% | 103.00 | 5,903,739 | 16:35:12 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 102.80 | 103.10 | 103.90 | 102.90 | 103.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Real Estate Agents & Mgrs | 181.7M | 41.4M | - | - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:35:12 | O | 4,493 | 96.00 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 12/6/2025 | 15:30 | UK RNS | Syquant Capital Form 8.3 - PHP LN |
| 12/6/2025 | 15:30 | UK RNS | Syquant Capital Form 8.3 - AGR LN |
| 12/6/2025 | 15:25 | UK RNS | Glazer Capital, LLC Form 8.3 - Primary Health Properties plc |
| 12/6/2025 | 15:25 | UK RNS | Glazer Capital, LLC Form 8.3 - Assura plc |
| 12/6/2025 | 15:20 | UK RNS | BlackRock Group Form 8.3 - Primary Health Properties plc |
| 12/6/2025 | 15:00 | UK RNS | Quilter PLC Form 8.3 - Primary Health Properties PLC |
| 12/6/2025 | 14:08 | UK RNS | RBC Europe Limited Form 8.3 -Primary Health Properties plc |
| 12/6/2025 | 14:04 | UK RNS | State Street Global Advisors Form 8.3 - Assura PLC |
| 12/6/2025 | 14:00 | UK RNS | State Street Global Advisors Form 8.3 - Primary Health Properties PLC |
| 12/6/2025 | 13:36 | UK RNS | Schroders PLC Form 8.3 - Primary Health Properties plc |
Primary Health Properties (PHP) Share Charts1 Year Primary Health Properties Chart |
|
1 Month Primary Health Properties Chart |
Intraday Primary Health Properties Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 12/6/2025 | 21:54 | PHP with charts | 1,508 |
| 07/5/2025 | 22:27 | Primary Health Properties | 348 |
| 24/3/2025 | 12:29 | Primary Health Properties | 12 |
| 29/4/2005 | 08:57 | qw | - |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2025-06-12 18:04:30 | 96.00 | 4,493 | 4,313.28 | O |
| 2025-06-12 17:51:39 | 92.65 | 6,900 | 6,392.85 | O |
| 2025-06-12 17:51:26 | 89.20 | 2,034 | 1,814.33 | O |
| 2025-06-12 17:46:58 | 92.65 | 6,900 | 6,392.85 | O |
| 2025-06-12 17:46:43 | 89.20 | 2,034 | 1,814.33 | O |
| Top Posts |
|---|
Posted at 12/6/2025 09:20 by Primary Health Properties Daily Update Primary Health Properties Plc is listed in the Real Estate Agents & Mgrs sector of the London Stock Exchange with ticker PHP. The last closing price for Primary Health Properties was 103.20p.Primary Health Properties currently has 0 shares in issue. The market capitalisation of Primary Health Properties is -. This morning PHP shares opened at 103p |
Posted at 16/5/2025 14:51 by klotzak Never pay over the odds. This has til next week to play out. It does not bode well for the share price if the market perception is it’s not a wise financial move.I’m looking to top up, hopefully around 95p. The best thing is for everyone to stay out of the sun and stay hydrated, this bid is not a cash bid, and wholly reliant on PHP remain solvent. |
Posted at 03/5/2025 14:27 by petersinthemarket I do not hold PHP, but recently started to take a look, due to their generous dividend. I note some surprising activity involving an offer for AGR, but as a late comer i have found the to and fro-ing very confusing. Is the prospect of a t/o the reason for the share price rising. Can someone say whether PHP can be considered a safe buy atm or would it be more sensible to wait until the t/o stuff is settled one way or another. Any advice gratefully received. pete |
Posted at 28/4/2025 05:51 by williamcooper104 The lack of cash and risk of share price falling before the deal closes is the problemIt's possible they offer the same share price adjusted price but do a rights issue to fund it such that AGR shareholders have certainty of end receipts |
Posted at 03/4/2025 07:06 by mirandaj "Conclusion and next stepsPHP firmly believes that the Combination represents a highly compelling proposition for Assura's shareholders at a significant premium to relevant trading metrics, providing participation in the future potential value creation of the combined group and part of the consideration in cash. The future outlook for primary care real estate is positively compelling at a time that both the UK and Irish Governments look to reform their healthcare systems using primary care as the foundation. The combined group would be extremely well placed to work with and alongside Government to deliver its plans, allowing both sets of shareholders to share in future growth. In light of the upcoming deadline under Rule 2.6(a) of the Code on 7 April 2024, PHP is announcing the possible terms of the Combination to provide shareholders of both companies with the opportunity to make their views known regarding the attractiveness of the Combination, and to urge Assura shareholders to encourage the Board of Assura to provide PHP with an extension to the deadline. There can be no certainty that an offer for Assura will be made. A further announcement will be made as appropriate. |
Posted at 10/3/2025 11:18 by affemoose I didnt know about the AGR Offer - thank you.I also see from AGR that they have said they will recommend accept the cash ofer should it be made formal. Honestly I think it's short sighted to accept the cash offer, i'm not just saying that because i hold PHP - this is a Gilt Yield driven Share price atm, a merge of near equals would make a lot of sense from both companies perspective and when the world finally stops going mad and inflation calms down - the price will jump. Just look at the share price for both companies...there's at least 40% uplift baked in with the current Divi yields. Add to this the fact that with the merging of so many Wealth Management funds - size does matter - to get on the radar of wealth managers now you need to look at being serious FTSE 100. The combined copanies will be approx £2.75Bn market cap today which would be a solid mid table Cap and attract more cash investments and tracker funds. This is very much a 'jam now' scenario and the cake...... KKR gets that in spades later on NOT the shareholders. |
Posted at 10/3/2025 10:20 by blobby Perhaps PHP don't think that they need to make an announcement as their offer was rejected.If so then I disagree with them. This is an important piece of information for PHP shareholders which shows a (change in?) company strategy which has not previously been communicated to them. The share price movement also demonstrates the the market thinks this is material information as well. Come on PHP management. Even a statement acknowledging the RNS from AGR would demonstrate that you are awake and not still arriving at the office after a long weekend. |
Posted at 10/3/2025 10:02 by the wook The Board confirms that it has also received an indicative, non-binding proposal from Primary Health Properties PLC ("PHP") regarding a possible all-share combination of Assura and PHP structured by way of an offer by PHP for Assura at an exchange ratio based on each company's last reported NTA per share (the "PHP Proposal"). The implied value of the PHP Proposal based on PHP's share price of 90.1 pence as at 13 February 2025 is 43 pence per Assura share. The Board has carefully considered the PHP Proposal with its advisers and concluded that the Possible Cash Offer is more attractive than the PHP Proposal as it provides shareholders with the opportunity to receive cash consideration at a significantly higher value per share than the proposal from PHP and with materially less risk. Therefore, the Board has rejected the PHP Proposal.This announcement is made with the consent of the Consortium but without the consent of PHP. A further announcement will be made as appropriate. |
Posted at 01/3/2025 13:55 by schofi2 From Investors Chronicle Published on February 28, 2025The winds are certainly blowing in Primary Health Properties’ (PHP) favour. The government is determined to improve healthcare, with a spending review expected in the coming months. Meanwhile, KKR’s recent bid for rival Assura (AGR) highlighted just how cheap the sector is. PHP also sees opportunities across the Irish Sea. On results day, it announced the acquisition of a private medical facility in Cork, Ireland, for an earnings yield of 7.1 per cent. However, PHP is not pivoting into private healthcare. Chief executive Mark Davies described the acquisition as “opportunistic However, expansion is not without its challenges. The company trades at a slightly lower discount to net asset value (NAV) than the rest of the sector – 11.7 per cent – but it is a discount nonetheless. It also has a loan to value ratio of 48.1 per cent, which is not far off its limit of 50 per cent. This makes growing the portfolio a challenge. Joint ventures are an option. “We could do joint ventures,” said Davies. “We could quite easily imagine doing that in Ireland.” Valuations have also taken a hit since interest rates went up, falling by 1.4 per cent year on year. However, valuation decreases were weighted towards the first half of last year. The market fundamentals are all there for PHP. If KKR swoops in for rival Assura then that will leave only one NHS-backed real estate investment trust (Reit) at the table. PHP currently trades at 13 times forward earnings and has a dividend yield of 7.6 per cent. Income buy. Last IC view: Hold, 93p, 24 July 24 2/3rds loaded at the moment. As someone said earlier, one of the safest stocks to get a good divi from. |
Posted at 10/2/2025 18:03 by theoldtrader I do not cover PHP myself but only for some family members.I read the HSBC I thought well you can read my thesis.Why Focusing on Bond Yields is Misleading in PHP's Case: PHP's Debt is Largely Fixed or Hedged: As we know, PHP has proactively managed its interest rate exposure. A very high percentage (95% as of recent reports) of its debt is either at a fixed interest rate or hedged using derivatives. This means that rising bond yields in the general market have a limited direct impact on PHP's existing borrowing costs. The concern would be valid for a company with a large amount of floating-rate debt, but that's not PHP's situation. Falling Interest Rates Benefit PHP: As I point out, falling interest rates are a positive for PHP, reducing future borrowing costs and potentially increasing property valuations. A focus on bond yields as a negative completely misses this crucial point. It is going against the prevailing trend. Bond Yields vs. PHP's Specific Risk: General bond market volatility (which can cause yields to fluctuate) is not the same as the specific credit risk of PHP defaulting on its debt. PHP's government-backed income stream makes it a very low-risk borrower. Its credit rating is likely to be strong, and its bonds should trade at a lower yield (reflecting lower risk) than, say, corporate bonds from a company in a cyclical industry. A generic concern about bond yields doesn't account for PHP's specific creditworthiness. Ignoring the Spread: Even if bond yields were a concern, the relevant metric is the spread between PHP's borrowing costs and the yield on government bonds (often considered the "risk-free" rate). As long as PHP can borrow at a reasonable spread above the risk-free rate, it can still generate profitable returns. Ignoring Rental Growth and Asset Appreciation: A focus solely on bond yields ignores the other key drivers of PHP's value: Rental Growth: PHP's inflation-linked leases and strong demand for its properties are driving rental income growth, which offsets the impact of borrowing costs. Asset Appreciation: Rising property values increase PHP's net asset value (NAV), which is a major component of its overall valuation. In essence, a broker note that heavily emphasizes bond yields as a negative for PHP without acknowledging these mitigating factors is demonstrating a lack of understanding of PHP's specific business model and the current market environment. |
Posted at 03/2/2025 12:04 by fleuryp On Monday, HSBC analysts revised their stance on Primary Health Properties Plc (LON:PHP:LN), downgrading the company's stock rating from 'Buy' to 'Reduce'. The firm also adjusted the price target to GBP 0.77, a decrease from the previous GBP 1.13 target.The downgrade was driven by concerns about valuation pressures on the company's property portfolio. HSBC cited the impact of rising bond yields, which the analysts believe will continue to push property yields higher. Additionally, the firm noted that PHP's lease profile has shortened to below 10 years for the first time, presenting another challenge to property valuations. HSBC's analysis suggests that PHP's shares are trading at a 12% discount to the spot EPRA Net Tangible Assets (NTA) per share. However, the firm anticipates a negative return on capital employed (ROCE) compared to the weighted average cost of capital (WACC) spread over the next decade. This forecast implies that, on a relative basis, the shares may be overvalued. The new price target of 77 pence represents an approximate 16% downside from the previous target, leading HSBC to recommend a reduction in holdings of PHP's shares. The analysts expect that the risks of property valuation declines will persist as high bond yields continue and lease lengths shorten, potentially impacting PHP's financial performance. |
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