Primary Health Properties (LON:PHP) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Primary Health Properties Plc (LON:PHP) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 98.07 and traded as low as GBX 90.55. Primary Health Properties shares last traded at GBX 90.80, with a volume of 10,939,486 shares traded.

Wall Street Analyst Weigh In

PHP has been the topic of a number of recent research reports. Berenberg Bank reissued a “buy” rating and set a GBX 128 price target on shares of Primary Health Properties in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Primary Health Properties from GBX 114 to GBX 115 and gave the company a “buy” rating in a report on Friday, March 20th. Jefferies Financial Group reiterated a “buy” rating on shares of Primary Health Properties in a research report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their target price 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. Finally, Shore Capital Group restated a “house stock” rating on shares of Primary Health Properties in a research report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 113.40.

Primary Health Properties Price Performance

The stock has a market capitalization of £2.34 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 5.64 and a beta of 0.79. The company has a fifty day simple moving average of GBX 93.16 and a 200 day simple moving average of GBX 97.99. The company has a debt-to-equity ratio of 129.48, a quick ratio of 0.62 and a current ratio of 6.67.

Primary Health Properties (LON:PHP) last issued its quarterly earnings results on Tuesday, March 17th. The real estate investment trust reported GBX 7.30 earnings per share for the quarter. Primary Health Properties had a return on equity of 6.03% and a net margin of 45.95%. Equities research analysts forecast that Primary Health Properties Plc will post 7.0875912 EPS for the current fiscal year.

Primary Health Properties Company Profile

PHP invests in flexible, modern properties for local primary healthcare.

The overall objective of the group is to create progressive returns to shareholders through a combination of earnings growth and capital appreciation.

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.