Barclays Reiterates “Overweight” Rating for Primary Health Properties (LON:PHP)

Barclays reaffirmed their overweight rating on shares of Primary Health Properties (LON:PHP) in a research note published on Thursday morning, Stock Target Advisor reports. They currently have a GBX 168 ($2.21) price objective on the real estate investment trust’s stock, up from their previous price objective of GBX 160 ($2.10).

A number of other research analysts have also recently commented on PHP. Jefferies Financial Group cut Primary Health Properties to a hold rating and upped their price target for the company from GBX 147 ($1.93) to GBX 155 ($2.04) in a research report on Friday, January 17th. Berenberg Bank started coverage on Primary Health Properties in a research report on Friday, November 29th. They set a hold rating and a GBX 150 ($1.97) price target on the stock. Peel Hunt reaffirmed an add rating and set a GBX 160 ($2.10) price target on shares of Primary Health Properties in a research report on Wednesday. Liberum Capital reaffirmed a buy rating on shares of Primary Health Properties in a research report on Wednesday. Finally, Peel Hunt reaffirmed an add rating and set a GBX 160 ($2.10) price target on shares of Primary Health Properties in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of GBX 163 ($2.14).

PHP stock traded down GBX 0.60 ($0.01) during midday trading on Thursday, hitting GBX 159.40 ($2.10). The company’s stock had a trading volume of 4,185,189 shares, compared to its average volume of 821,202. The stock’s 50-day moving average price is GBX 159 and its 200 day moving average price is GBX 144.29. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 106.19. Primary Health Properties has a 1 year low of GBX 115.20 ($1.52) and a 1 year high of GBX 160.80 ($2.12). The stock has a market cap of $1.94 billion and a price-to-earnings ratio of -18.75.

The company also recently declared a dividend, which will be paid on Friday, February 21st. Stockholders of record on Thursday, January 9th will be given a dividend of GBX 1.48 ($0.02) per share. This represents a dividend yield of 0.93%. The ex-dividend date is Thursday, January 9th. This is a boost from Primary Health Properties’s previous dividend of $1.40. Primary Health Properties’s dividend payout ratio is currently -0.71%.

In other news, insider Richard Howell purchased 28,377 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of GBX 162 ($2.13) per share, with a total value of £45,970.74 ($60,471.90).

About Primary Health Properties

Primary Health Properties PLC (“PHP”) is a UK Real Estate Investment Trust (“REIT”) and the leading investor in modern primary healthcare premises. The objective of the Group is to create progressive returns to shareholders through a combination of earnings growth and capital appreciation. PHP achieves this by investing in healthcare real estate in the UK and Ireland let on long term leases backed by a secure underlying covenant funded mostly by government bodies.

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Analyst Recommendations for Primary Health Properties (LON:PHP)

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