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
  -1.60 -1.15% 137.40 230,044 10:17:11
Bid Price Offer Price High Price Low Price Open Price
137.20 137.40 139.80 136.80 139.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 79.60 74.30 10.50 13.1 1,561
Last Trade Time Trade Type Trade Size Trade Price Currency
10:17:11 AT 18 137.40 GBX

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Date Time Title Posts
27/9/201914:57PHP with charts865
06/12/201718:42Hardman & Co INTERVIEW - Primary Health Properties2
17/11/201713:40Primary Health Properties-
23/9/200509:19Primary Health Properties345

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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 139p.
Primary Health Properties Plc has a 4 week average price of 131p and a 12 week average price of 128.40p.
The 1 year high share price is 140p while the 1 year low share price is currently 107.20p.
There are currently 1,136,288,474 shares in issue and the average daily traded volume is 2,953,172 shares. The market capitalisation of Primary Health Properties Plc is £1,561,260,363.28.
pixelrobox: 1olddog Run has been exceptional. I do not recall php prem/nav being this high, having held since 2008. I would not draw much reassurance from my analysis however, I am a poor investor, I mentioned adding to my holding for sake of disclosure. The shift seems to be sector(al)though, some property sub sectors doing well (last mile logistics, flex work space) and others (out of town/retail) doing badly. PHP might be benefiting on a premium being placed on perceived rent roll security, analysts often allude to quasi'bond-like' characteristics, so maybe not a coincidence that since January the share price has spiked in tandem with CB's interest rate rises being delayed/reversed, bond yields dropping. Cant see what operationally has changed despite the merger, rents are hardly on fire and last set of results were fine, if rather pedestrian. Attraction for me has been the consistency of delivery and long term strategic premise.
jgh03: The portfolio update of 6 June stated that the book value of the properties was £2,316m, and that net debt was £1,115m (both as at 31 March, post merger with MedicX). Number of shares at 15 March (post merger) was 1,131,235,006. So that would mean NAV per share is 106.17p. However that excludes the recent 1.4p dividend and shares issued as part of the scrip dividend. Maybe its easiest just to subtract 1.4p to arrive at a NAV of 104.77p. Today's share price is 133p, which is 26.9% above NAV. This excludes the convertible bond. However, it looks rather higher than pixelrobox's estimate, so maybe I've missed something.
norland1: Thanks PC I must admit that I only skipped over the RNS. The end bit went over my head anyway. The premium I thought about was the share price relative to the NAV which looked high when I saw an item in The Property Chronicle. (freebie version of course ) Share price doesn't particularily worry me as I have changed from BTL to this investment -less hassle- but never thought about BTL valuation anyway so not going to worry about this share price. I understand the position when shareholders are asked to fork more cash which affects the share price but this Bond issue is much more complicated.
schofip: It seems like the market makers did a pretty good job of wrong footing and shaking a number shareholders out of the market before the share price took off. A nice way for them and institutions to take some cheap stock on board. The subsequent rise outstrips the dividends for the year.
norland1: Positive comments in Sunday Times today. Should see share price reduction tomorrow then.
typo56: Well, PHP was already in the FTSE All-Share index. Never mind. Over 10m shares uncrossed at close yesterday thanks to the index funds. A more normal 183k today. I'm not sure what it will mean for the share price. Possibly not that much. I see MRO took the opportunity to 'kitchen sink' their GKN acquisition today, now that they've safely made it into the FTSE100!
stupidboypike: A quick look at the financials comparing PHP to Assura (which I hold) looks like:- PHP NAV per share 83.5 share price 113.6 premium 36% Assura NAV per share 49.4 share price 60.9 premium 23% What am I missing please someone? Best regards SBP
norland1: These shares became ex-div today. The share price has in fact gone down over past few days. I would have thought that with divi to come they would have gone up slightly. Can anyone explain this to me?. Is it just market forces. My other reit has gone up nicely with no ex div date imminent.
speedsgh: Don't get me wrong. Boring is beautiful in my book. Quite happy with the income & the odd %age move in the share price now & again.
mctmct: Daily Telegraph, 6 March Primary Health Properties 338¼p -3¾p Questor says Buy Primary Health Properties (PHP) has an unbroken 15-year record of dividend increases. That's why the shares are ideal for income seekers. PHP is a fully-listed real estate investment trust (REIT), which builds and manages doctors' surgeries and pharmacies on long-term contracts. It currently has 156 completed properties and has a further five it is committed to acquire. The total portfolio, including properties it is committed to buy, increased by 7pc over the year to £539.7m, when the £10.6m rise from a revaluation is factored in. The rents from these assets provide financing to grow the portfolio and a dividend to investors. Because of the long-term nature of the leases, revenue streams are visible for many years to come and its portfolio is 100pc let. The company's recent full-year update revealed a net asset value per share of 318.7p. Rental and related income increased by £3.8m to £30.7m. The average increase of 3pc on rent reviews completed in the year, combined with acquisitions and commitments, increased the annualised rent roll to £32.3m. The prospective dividend yield in 2012 is 5.4pc, rising to 5.5pc next year. The final dividend is 9.25p, which brought the total payment for the year to 18p. The payment will be made on April 5 and the shares trade without this the right to the dividend from March 7. Earlier in the year, PHP completed a small share issue. Some 5.3m shares were issued in April at 305p, a 2.5pc discount to the price PHP was trading at at the time. The dilution which this caused has been recovered over the year as the share price has increased. The company has £300m of debt, which it has secured or agreed terms to refinance for an average term of 4.6 years, which should ease concerns some investors had on this front. However, in its annual report on Monday PHP conceded that as the funding markets see credit availability decrease, the refinancing has been at higher margins. Last tipped at 304p on November 22 last year, the shares remain a buy for income seekers.
Primary Health Properties share price data is direct from the London Stock Exchange
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