Primary Health Properties’ (PHP) Buy Rating Reaffirmed at Jefferies Financial Group

Primary Health Properties (LON:PHP)‘s stock had its “buy” rating reiterated by Jefferies Financial Group in a note issued to investors on Wednesday, Digital Look reports. They currently have a GBX 107 price objective on the real estate investment trust’s stock. Jefferies Financial Group‘s price objective suggests a potential upside of 14.38% from the company’s current price.

Several other research analysts have also commented on PHP. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 115 price objective on shares of Primary Health Properties in a research report on Friday, July 31st. Berenberg Bank reduced their price objective on shares of Primary Health Properties from GBX 133 to GBX 131 and set a “buy” rating on the stock in a research note on Monday. Finally, Shore Capital Group reaffirmed a “house stock” rating on shares of Primary Health Properties in a report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 112.60.

Primary Health Properties Stock Performance

Shares of PHP stock traded up GBX 0.50 during mid-day trading on Wednesday, hitting GBX 93.55. The stock had a trading volume of 5,386,527 shares, compared to its average volume of 38,425,582. Primary Health Properties has a fifty-two week low of GBX 88.30 and a fifty-two week high of GBX 109.60. The company’s 50-day simple moving average is GBX 92.57 and its 200-day simple moving average is GBX 95.90. The firm has a market cap of £2.43 billion, a PE ratio of 15.59, a PEG ratio of 5.64 and a beta of 0.79. The company has a debt-to-equity ratio of 131.37, a current ratio of 0.88 and a quick ratio of 0.62.

Primary Health Properties (LON:PHP) last posted its quarterly earnings results on Thursday, October 15th. The real estate investment trust reported GBX (0.14) earnings per share for the quarter. Primary Health Properties had a return on equity of 6.20% and a net margin of 43.30%. Sell-side analysts anticipate that Primary Health Properties will post 7.09 earnings per share for the current year.

Insider Buying and Selling at Primary Health Properties

In related news, insider Mark Davies purchased 140,759 shares of the firm’s stock in a transaction that occurred on Tuesday, October 27th. The stock was acquired at an average price of GBX 93 per share, for a total transaction of £130,905.87. Also, insider Richard Howell purchased 53,504 shares of the company’s stock in a transaction that occurred on Wednesday, October 28th. The stock was bought at an average cost of GBX 93 per share, for a total transaction of £49,758.72. Over the last three months, insiders have bought 249,681 shares of company stock valued at $23,109,497. Corporate insiders own 1.05% of the company’s stock.

More Primary Health Properties News

Here are the key news stories impacting Primary Health Properties this week:

• Positive Sentiment: Director Mark Davies purchased 140,759 shares at GBX 93, worth approximately £130,906. A second insider, Richard Howell, bought 53,504 shares at the same price for about £49,759. The combined purchases signal management confidence in PHP’s valuation and outlook.
• Positive Sentiment: PHP and the Universities Superannuation Scheme increased the target size of their primary-care property joint venture to £400 million, up from the previous objective. The companies also agreed to transfer a further £67 million of assets, expanding PHP’s potential investment pipeline and exposure to NHS-backed healthcare properties. Primary Health Properties raises target size of NHS property joint venture with USS to £400m
• Neutral Sentiment: Berenberg Bank reduced its price target for PHP from GBX 133 to GBX 131 but maintained a Buy rating. The lower target is a mild negative for sentiment, though it still indicates substantial potential upside relative to the GBX 93 insider purchase price. Primary Health Properties stock price target cut by Berenberg Bank

About Primary Health Properties

PHP is a leading investor in critical healthcare infrastructure in the UK and Ireland.

The overall objective of the group is to create progressive returns to shareholders through a combination of earnings growth and capital appreciation. PHP has an unbroken 30 year track record of dividend growth.

To achieve this, PHP invests in healthcare real estate let on long-term leases, backed by secure underlying covenants where the majority of rental income is funded directly or indirectly by a government body.