logo-loader
viewPrimary Health Properties PLC

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 PLC - Primary Health Properties and Assura initiated at ‘overweight’ as Barclays turns positive on UK primary care

Primary Health Properties PLC (LON:PHP) and Assura PLC (LON:AGR) have been initiated at ‘overweight’ by analysts at Barclays as they took a “relatively positive view” on UK primary care landlords.

In a note on Tuesday, the British bank said the sector offered “relatively ‘safe’, attractive and growing dividend yields” as well as “favourable underlying market dynamics”, adding that they were “relatively more positive on the UK primary care landlords given leases are fully backed by the UK government”.

READ: Primary Health Properties secures funding deal for Mountain Ash primary care centre

While market yields had “compressed strongly over the past four years”, Barclays said there is limited room for further compressions as like-for-like rental growth was “likely to remain muted”, although they did raise concerns that risks around profitability were being overlooked.

The bank also initiated PHP with a target price of 160p and Assura with a target of 81p.

In mid-morning trading, PHP shares were flat at 148.4p while Assura shares were 0.1% lower at 75.4p.

Quick facts: Primary Health Properties PLC

Price: 150.6 GBX

LSE:PHP
Market: LSE
Market Cap: £1.83 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Primary Health Properties PLC named herein, including the promotion by the Company of Primary Health Properties PLC in any Content on the Site,...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Primary Health Properties delivering 'impressive dividend track record and...

Proactive Research analyst Ed Stacey says Primary Health Properties (LON:PHP) has an impressive track record of dividend growth, increasing the payment every year since listing in 1997. On top of that he says they've delivered steady capital gains on its portfolio that have translated into...

on 21/10/19

RNS

Director/PDMR Shareholding

4 days, 23 hours ago

Director/PDMR Shareholding

4 days, 23 hours ago

Holding(s) in Company

1 week, 1 day ago

Holding(s) in Company

1 week, 5 days ago

Directorate Change

1 week, 5 days ago

2 min read