Primary Health Properties’ (PHP) “Buy” Rating Reiterated at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Primary Health Properties (LON:PHP) in a research report report published on Thursday,Digital Look reports. Berenberg Bank currently has a GBX 128 price target on the real estate investment trust’s stock.

PHP has been the subject of a number of other research reports. Shore Capital Group reaffirmed a “house stock” rating on shares of Primary Health Properties in a report on Friday, July 17th. Stifel Nicolaus reiterated a “buy” rating and issued a GBX 105 price target on shares of Primary Health Properties in a report on Wednesday, April 15th. JPMorgan Chase & Co. increased their price target on shares of Primary Health Properties from GBX 100 to GBX 105 and gave the stock a “neutral” rating in a report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 115 price target on shares of Primary Health Properties in a research report on Thursday, June 25th. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 118 price objective on shares of Primary Health Properties in a research note on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 114.20.

Primary Health Properties Stock Performance

Shares of PHP opened at GBX 94.45 on Thursday. The stock has a 50-day moving average of GBX 93.43 and a two-hundred day moving average of GBX 97.06. Primary Health Properties has a one year low of GBX 87.40 and a one year high of GBX 109.60. The company has a debt-to-equity ratio of 131.37, a quick ratio of 0.62 and a current ratio of 0.88. The stock has a market cap of £2.45 billion, a P/E ratio of 14.31, a P/E/G ratio of 5.64 and a beta of 1.11.

Primary Health Properties (LON:PHP) last posted its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported GBX 3.80 earnings per share for the quarter. Primary Health Properties had a return on equity of 6.20% and a net margin of 43.30%. As a group, research analysts predict that Primary Health Properties will post 7.0875912 EPS for the current year.

Key Stories Impacting Primary Health Properties

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

• Positive Sentiment: Analysts maintain bullish outlook: Jefferies reaffirmed its “buy” rating and set a GBX 118 price target, while Deutsche Bank also reiterated “buy” with a GBX 115 target. Both targets imply meaningful upside from recent trading levels. Digital Look broker ratings
• Positive Sentiment: Further broker support: Berenberg reaffirmed its “buy” rating and raised or maintained a GBX 128 price target, the most optimistic target among the latest broker updates. Shore Capital also reaffirmed its “house stock” rating. Digital Look broker ratings
• Positive Sentiment: Earnings benefited from the Assura combination: Primary Health Properties reported quarterly earnings of GBX 3.80 per share, with a 45.95% net margin and 6.03% return on equity. The earnings increase following the Assura combination provides evidence of greater scale and supports the investment case for the enlarged healthcare-property portfolio. Primary Health Properties earnings jump after Assura combination
• Neutral Sentiment: Additional research coverage: Edison issued a new report on Primary Health Properties, potentially giving investors further analysis of the company’s prospects after the Assura transaction. The article details were not provided, so its specific earnings or valuation implications are unclear. Edison report on Primary Health Properties

Primary Health Properties Company Profile

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.