Primary Health Properties remains a buy for the analysts at Jefferies, who see an improvement in rent reviews as an ongoing process given construction cost inflation.
Some £0.9mln of rent was added in the first three months of 2022 from rent reviews or asset management, with rent reviews equating to £0.6mln or +2.0% on an annualised basis.
Primary Health Properties PLC (LSE:PHP, OTC:PHPRF) said it has a strong investment and development pipeline as it updated on progress in the first quarter.
In all standing investments, direct and forward funded developments and asset management projects total £482mln for the UK and Ireland of which £139mln is currently in legal due diligence.