Primary Health Properties (LON:PHP) Reaches New 52-Week High – Here’s Why

Primary Health Properties Plc (LON:PHP) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 108.90 and last traded at GBX 107.50, with a volume of 7363464 shares trading hands. The stock had previously closed at GBX 108.10.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PHP shares. Berenberg Bank raised their target price on shares of Primary Health Properties from GBX 122 to GBX 128 and gave the company a “buy” rating in a research note on Monday, January 26th. Jefferies Financial Group boosted their price target on Primary Health Properties from GBX 110 to GBX 114 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Primary Health Properties presently has an average rating of “Buy” and a consensus target price of GBX 121.

Primary Health Properties Stock Performance

The firm has a market capitalization of £2.78 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 5.64 and a beta of 0.41. The company has a current ratio of 0.50, a quick ratio of 0.62 and a debt-to-equity ratio of 96.73. The business’s 50 day simple moving average is GBX 101.62 and its two-hundred day simple moving average is GBX 96.05.

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.