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Prices & Quotes - UK Markets - Primary Health Properties (PHP)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 144.00p
Change Today:
1.00p
Market Cap:
1,893.83m
Sector:
Real Estate Investment Trusts

PHP lifts dividend, swings to profit as demand for healthcare space soars

By Frank Prenesti

Date: Wednesday 29 Jul 2020

LONDON (ShareCast) - (Sharecast News) - Primary Health Properties increased its dividend as it returned to profitability driven by strong demand for extra space to relieve pressure on the National Health Service caused by the coronavirus pandemic.
The investor in healthcare facilities reported an interim pre-tax profit of 39.6m, compared to a loss of 106.1m a year ago. The dividend was lifted 5.4% to 2.95p a share.

Net rental income rose 20% to 64.8m and adjusted EPRA earnings, the underlying metric used by the company, rose 29% to 36m.

Chief executive Harry Hyman said the pandemic showed the need for "modern, integrated, local primary healthcare facilities is becoming ever more pressing in order to relieve the pressures being placed on hospitals and A&E departments".

"As a result of the Covid-19 pandemic, we see strong demand for extra space to help alleviate the backlog of consultations that has arisen as a result of the coronavirus, while facilitating the movement of activity out of hospitals and the continued care of patients that have suffered from Covid-19."

PHP said it expected to see the backlog of suspended non Covid-19 treatments moved away from hospitals and into primary care facilities.

"This trend will undoubtedly require substantial investment into other areas, most notably primary care that will be able to take on the non-urgent and periphery procedures," the company added.

"The successful equity placing on 9 July raised 140m of proceeds and was upsized from 120m due to strong investor demand. The funds raised will help further accelerate our growth by funding near-term portfolio expansion, forward funded developments and asset management projects."

"PHP looks forward to delivering further earnings and dividend growth and remains confident of its future outlook."

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

PHP Market Data

Currency UK Pounds
Price 144.00p
Change Today 1.00p
52 Week High 165.60p
52 Week Low 126.20p
Volume 3,179,034
Shares Issued 1,315.16m
Market Cap 1,893.83m

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 2
Neutral 1
Sell 0
Strong Sell 0
Total 8
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PHP Dividends

  Latest Previous
  Q4 Q3
Ex-Div 08-Oct-20 02-Jul-20
Paid 20-Nov-20 21-Aug-20
Amount 1.48p 1.48p

Trades for 30-Oct-2020

Time Volume / Share Price
16:38 73,620 @ 144.00p
16:35 809,949 @ 144.00p
16:29 33 @ 143.80p
16:29 1 @ 143.80p
16:29 27 @ 143.80p

PHP Key Personnel

Finance Director Richard Howell