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Primary Health Properties - secure with some sizzle

Published: 11:03 21 Oct 2019 BST

Primary Health Properties (LON:PHP) is a UK & Ireland focused real estate investment trust (REIT), with a strong rental cash-flow base, and a low-risk profile, holding a portfolio of 484 primary healthcare properties.

The company has an impressive track record of dividend growth, increasing the payment every year since listing in 1997. In addition, the company has delivered steady capital gains on its portfolio that have translated into share price appreciation. On p2 we provide a reminder of how PHP’s returns model has delivered for shareholders.

 

In March 2019 PHP completed its transformational merger with MedicX (another primary healthcare REIT), with objectives of lowering the cost ratio (now lowest in the UK REIT space), lowering financing costs, and other merger synergies. In our detailed initiation report (11 June 2019) we provided some details of how we expected the merger benefits to play out, as well as general positive drivers for the company. Some events in the last few months have proved supportive of our expectations.

Click here to read Ed Stacey's initiation note on Primary Health Properties

What's in the report?

Financial results and forecasts
Growth drivers
Management
Market conditions
Milestones & inflection points
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This document is published by Proactive Research and its contents have not been approved as a financial promotion by Proactive Investors Limited or any other FCA authorised person. This communication is made on the basis of the 'journalist exemption' provide for in Article 20 of The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and having regard to the FCA rules, and in particular PERG 8.12.

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