Company
Primary Health Properties PLC
LON:PHP
Primary Health Properties PLC is a UK-based Real Estate Investment Trust (REIT) with a clear objective to create progressive returns for shareholders through a combination of earnings growth and capital appreciation. PHP achieves this by investing in healthcare real estate in the UK and Ireland let on long-term leases backed by a secure underlying covenant funded mostly by government bodies. The company's portfolio comprises over 300 primary healthcare facilities, both completed and committed, the majority of which are GP surgeries, with other properties let to NHS organisations, pharmacies and dentists.
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Primary Health Properties to benefit from 'firmer rental tone', says broker
The broker said Primary Health takes a “prudent approach” to acquisitions
Primary Health Properties encouraged by rental outlook
"We are encouraged by the firmer tone of rental growth experienced in the period from the ongoing rent reviews and asset management projects successfully completed," CEO Harry Hyman said
Primary Health Properties buys medical centre in Newbury for £7.25mln
The property is fully let to two GP practices, providing 100% government backed income, with an unexpired term of 19 years
Primary Health Properties sells portfolio of small medical centres
"We are delighted to have been able to achieve such a strong price for this portfolio of medical centres," said company CEO Harry Hyman
Primary Health Properties still on Jefferies 'buy' list
Jefferies expects PHP to continue to gear up using available resources.
Primary Health Properties makes solid start to year
Chief executive Harry Hyman told investors: "We expect to benefit from the current inflationary environment with an improving rental growth outlook and with the majority of our debt fixed or hedged we expect to remain in a very strong and r
Primary Health Properties buys diagnostic centre in London
The facility provides a number of services and expert teams specialising in neurology, cardiology, orthopaedics, urology and gastroenterology as well as women's healthcare services and a dedicated children's unit
Primary Health invests in its first net-zero carbon direct development
"We are delighted to have commenced work on one of the UK's first NZC healthcare buildings," said Harry Hyman, the chief executive officer of Primary Health Properties
Primary Health Properties acquires refurbished property in Surrey with 20-year NHS lease
The acquisition houses services being relocated from the nearby St Peter's Hospital in line with the NHS's strategy of moving ancillary services away from hospital settings, the company said
Primary Health Properties shares rise as dividend streak continues
Continued investment in GP facilities contributed to 26th consecutive year of dividend growth
Primary Health Properties CEO hails 'another strong year'
PHP generates its income from health centres and doctors surgeries with 90% of its rent roll funded from government sources
Primary Health Properties to pay shareholders four equal dividends in 2022
The first quarterly dividend in 2022, which will be 1.625p per ordinary share, will be paid on 25 February
Primary Health confirms another addition to its portfolio
It is the second purchase by the company this week
Primary Health announces addition to its portfolio
Primary Health announces addition to its portfolio
Primary Health Properties buys Surrey asset housing GP practice and a pharmacy for £5.3mln
The portfolio now totals 519 assets with a rent roll of £139mln
Primary Health Properties acquires Derbyshire facility for £5mln
The purpose-built facility is let to a GP practice
Primary Health Properties renegotiates two loans worth £300mln to reduce borrowing costs
PHP said financial rejig has reduced the average cost of debt to 2.9% from 3.4%, saving the company £5mln annually in the process
Primary Health Properties to acquire Irish outpatient care centre for €10.1mln
“We have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio," said Harry Hyman
Primary Health Properties launches community impact fund
It will work with the GP practices in its facilities to promote the fund to organisations delivering social prescribing services to their patient lists and local communities
Primary Health buys medical centre in Cardiff
The property is fully let to a large local GP practice serving over 8,000 patients and to a pharmacy
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Primary Health Properties expands its portfolio further with £40mln swoop for health centre and offices in Bury, Lancashire
The company said it has a strong pipeline of further opportunities
Primary Health upgraded after encouraging numbers
Broker Berenberg has raised its share price target to 170p
Primary Health Properties sees progress across the board at the halfway stage
The company is a specialist at developing local medical centres
Primary Health Properties highlights robust rent collection
The company also said it has continued to grow rental income from its existing portfolio, with 91 rent reviews resulting in an additional £0.5mln per year
Primary Health eyes growth opportunities in UK and Irish healthcare sectors
Healthcare property stocks will continue to benefit from supportive structural growth trends, says Liberum
Primary Health Properties buys primary care centre in Shankill, Dublin
The acquisition extends Primary Health's footprint in Ireland, as per its stated strategy
Primary Health Properties' earnings surge as pandemic boosts demand for healthcare facilities
The FTSE 250 group reported a 22.4%jump in earnings over the year, while the value of its portfolio crept up 2% to around £2.58bn
Primary Health Properties upgraded to 'buy' by broker Peel Hunt
The internalisation deal “further enhances its position as the most efficient UK REIT, delivers an immediate dividend increase and further improves management alignment”
Primary Health Properties lifts dividend for 2021 as it brings management in-house
The level of the dividend means the shares yield 4% for 2021
Primary Health Properties' appeal enhanced by bringing management in-house, suggests broker
Liberum estimates the plan will result resulting in £4mln a year in cost savings or around a 12% ‘yield’ on the £33mln acquisition cost.
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Primary Health Properties announces two transactions
The company has acquired a medical centre in Liverpool for £4.6mln and agreed to fund a new centre in Ireland to the tune of €12.6mln
Primary Health Properties to acquire manager in £33mln deal
The improved earnings will allow PHP to pay higher dividends
Primary Health Properties one of the safest ways to play the UK's uncertain times, says broker
The health real estate investor “is as close to having a guaranteed top line as is currently possible”, with 90% of income funded by government bodies
Primary Health Properties has been a "significant beneficiary" of the " unrelenting search for secure and reliable income"
The company, which operates 490 facilities such as GP and dentists’ surgeries and pharmacies in the UK and Ireland, provided the update alongside its interim results
Primary Health Properties fundraising highlights strength of primary healthcare model, say analysts
The capital raise “indicates the strength of the investment case in more uncertain times”, Berenberg analysts said
Primary Health Properties announces successful completion of upsized placing, raising gross proceeds of approximately £140mln
The placing, which represents approximately 7.9% of Primary Health Properties’ issued ordinary share capital prior to the fundraising, was upsized from approximately £120mln due to strong investor demand
Primary Health Properties to raise cash to fund new developments
The proceeds will be used to fund continued portfolio growth through acquisition and forward funded developments and to finance asset management projects totalling around £128mln
Primary Health Properties completes first of two conditional medical centre purchases
Last month, PHP acquired a portfolio of 20 purpose-built medical centres and conditionally agreed to buy two more, one of which has now been purchased
Primary Health Properties to provide funding for construction and acquisition of €18.0mln purpose-built primary care centre in Ireland
The acquisition will increase Primary Health Properties' portfolio to a total of 511 assets, of which 17 are in Ireland, with a gross value of just under £2.5bn and a contracted rent roll of £132mln
Primary Health Properties expands with purchase of twenty medical centres
"The current coronavirus pandemic is expected to reinforce the need for modern, integrated primary care facilities to relieve pressure on hospitals and A&E facilities"
Primary Health Properties takes delivery of two completed developments of large, modern primary care centres in Ireland
The two developments are a 4,822 square metre (m2 ) centre at Bray, Co. Wicklow, 12 miles south of Dublin, and a 3,232m2 centre at Rialto, Dublin 8
Primary Health Properties adapting estate for coronavirus crisis
The group said its latest quarterly dividend of 1.475p will be paid on May 22
Primary Health to acquire leasehold on Epsom surgery
PHP has contracted with a developer to fund the fitting out of a doctors' surgery within a modern residential development in the centre of Epsom, Surrey
Primary Health Properties sees rental income surge in 2019 following MedicX merger
For the 12 months ended 31 December, the healthcare property group reported that net rental incomes had risen 51.4% to £115.7mln
Primary Health Properties continues its expansion with addition of primary care centre in Wales
The group said it has contracted with a developer to fund the development and acquisition of the centre in Llanbradach, near Caerphilly in Wales for a total cost of £2.8mln
Primary Health portfolio edges towards 500 with Bolton and Banagher additions
Assets now have a gross value of just under £2.4bn and a contracted rent roll of approximately £127mln.
Primary Health Properties inks £8.4mln funding deal for Eastbourne medical centre
According to the managing director this deal is “one of several development projects which the group is pursuing at present in the UK and in Ireland”
Primary Health Properties and Assura initiated at ‘overweight’ as Barclays turns positive on UK primary care
The British bank said the sector offered “relatively ‘safe’, attractive and growing dividend yields” as well as “favourable underlying market dynamics”
Primary Health Properties secures funding deal for Mountain Ash primary care centre
The new facility, located in Wales, will expand PHP’s portfolio to 485 assets with a value of just under £2.4bn and rent roll of £127mln
Primary Health Properties drums up £100mln for new healthcare developments
The FTSE 250-listed REIT said it was seeing a rise in the number of opportunities for funding the construction of new healthcare premises in Ireland and the UK
Primary Health cancels loan facility after loan note issue
"We are delighted to have concluded this transaction at attractive rates and to have received continued support from the private placement market."
Primary Health Properties PLC completes two deals
The healthcare facilities have been let on 20 year leases
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Primary Health Properties hails higher earnings as merger delivers expected synergies
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Primary Healthcare completes €11mln acquisition of Dublin primary care centre
The Meath PCC is fully let, with most of its rent secured by government backing
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Broker's property sector review resulted in upgrades for Hammerson, Shaftesbury and Capital & Regional, but downgrades to Helical and Primary Health Properties
Primary Health Props. committed to maintaining fully covered divi whilst paying out most of its underlying earnings
The FTSE 250-listed investor in modern primary healthcare facilities reaffirmed the payout commitment at its annual general meeting, held today in London
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Primary Health Properties bulks up after completing MedicX deal
The merger with MedicX Fund completed inMarch, took the FTSE 250-listed firm's portfolio up to 484 properties with a gross book value of more than £2.3bn, from £1.5bn at end-2018
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Liberum pulls Primary Health Properties back to ‘hold’ from ‘buy’ on valuation grounds following MedicX merger
In a note to clients, Liberum’s analysts said: “The addition of MedicX’s best in class assets complements an already high-quality portfolio and accelerates benefits of scale”
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Primary Health Properties to acquire new primary healthcare medical centre in Kew for £4.6mln
The FTSE 250-listed firm said the property is due to be completed in October 2019 and will have a net internal area of approximately 845 square metres at a total cost of £4.6mln