Primary Health Properties (LON:PHP) Shares Break Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Primary Health Properties Plc (LON:PHP) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of GBX 93.41 and traded as low as GBX 90.15. Primary Health Properties shares last traded at GBX 91.30, with a volume of 12,091,069 shares traded.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Shore Capital Group reaffirmed a “house stock” rating on shares of Primary Health Properties in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 115 price objective on shares of Primary Health Properties in a research report on Friday, July 31st. Jefferies Financial Group reiterated a “buy” rating and set a GBX 107 price target on shares of Primary Health Properties in a research note on Thursday. Finally, Berenberg Bank lifted their price target on Primary Health Properties from GBX 128 to GBX 133 and gave the stock a “buy” rating in a research report on Friday, August 14th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Primary Health Properties presently has an average rating of “Moderate Buy” and a consensus price target of GBX 113.

Primary Health Properties Trading Up 1.1%

The firm has a market capitalization of £2.36 billion, a PE ratio of 15.17, a price-to-earnings-growth 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. The company has a fifty day moving average of GBX 93.14 and a 200-day moving average of GBX 93.41.

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

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.