Primary Health Properties (LON:PHP) Reaches New 52-Week High – Here’s Why

Primary Health Properties Plc (LON:PHP) reached a new 52-week high on Thursday . The company traded as high as GBX 108.90 and last traded at GBX 107.50, with a volume of 7363464 shares traded. The stock had previously closed at GBX 108.10.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PHP. Jefferies Financial Group boosted their price target on Primary Health Properties from GBX 110 to GBX 114 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Berenberg Bank lifted their price objective on shares of Primary Health Properties from GBX 122 to GBX 128 and gave the company a “buy” rating in a research report on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of GBX 121.

Primary Health Properties Trading Down 0.4%

The company has a 50-day moving average price of GBX 101.62 and a two-hundred day moving average price of GBX 96.05. The stock has a market cap of £2.78 billion, a P/E ratio of 14.88, a P/E/G ratio of 5.64 and a beta of 0.41. The company has a current ratio of 0.50, a quick ratio of 0.62 and a debt-to-equity ratio of 96.73.

Primary Health Properties Company Profile

PHP invests in flexible, modern properties for local primary healthcare.

The overall objective of the group is to create progressive returns to shareholders through a combination of earnings growth and capital appreciation.

To achieve this, PHP invests in healthcare real estate let on long-term leases, backed by secure underlying covenants where the majority of rental income is funded directly or indirectly by a government body.