Primary Health Properties (PHP) is the leading investor in modern healthcare properties in the UK & Ireland.
Primary Health Properties Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||UK£1.62|
|52 Week High||UK£1.38|
|52 Week Low||UK£1.70|
|1 Month Change||-2.53%|
|3 Month Change||3.06%|
|1 Year Change||8.31%|
|3 Year Change||42.76%|
|5 Year Change||43.01%|
|Change since IPO||527.57%|
Recent News & Updates
Could The Primary Health Properties PLC (LON:PHP) Ownership Structure Tell Us Something Useful?
Every investor in Primary Health Properties PLC ( LON:PHP ) should be aware of the most powerful shareholder groups...
|PHP||GB REITs||GB Market|
Return vs Industry: PHP underperformed the UK REITs industry which returned 29.4% over the past year.
Return vs Market: PHP underperformed the UK Market which returned 19.2% over the past year.
Stable Share Price: PHP is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: PHP's weekly volatility (2%) has been stable over the past year.
About the Company
Primary Health Properties (PHP) is the leading investor in modern healthcare properties in the UK & Ireland. PHP is a UK based Real Estate Investment Trust (REIT) with a clear objective to create progressive returns to shareholders through a combination of earnings growth and capital appreciation. PHP achieve this by investing in healthcare real estate let on long-term leases, backed by a secure underlying covenant funded mostly by government bodies.
Is Primary Health Properties undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PHP (£1.62) is trading below our estimate of fair value (£1.65)
Significantly Below Fair Value: PHP is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: PHP is good value based on its PE Ratio (15x) compared to the UK REITs industry average (15.7x).
PE vs Market: PHP is good value based on its PE Ratio (15x) compared to the UK market (23.5x).
Price to Earnings Growth Ratio
PEG Ratio: PHP's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: PHP is overvalued based on its PB Ratio (1.5x) compared to the GB REITs industry average (0.9x).
How is Primary Health Properties forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PHP's earnings are forecast to decline over the next 3 years (-0.4% per year).
Earnings vs Market: PHP's earnings are forecast to decline over the next 3 years (-0.4% per year).
High Growth Earnings: PHP's earnings are forecast to decline over the next 3 years.
Revenue vs Market: PHP's revenue (3.8% per year) is forecast to grow slower than the UK market (5% per year).
High Growth Revenue: PHP's revenue (3.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PHP's Return on Equity is forecast to be low in 3 years time (5.1%).
How has Primary Health Properties performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PHP has a large one-off gain of £69.3M impacting its June 30 2021 financial results.
Growing Profit Margin: PHP's current net profit margins are higher than last year (56.2%).
Past Earnings Growth Analysis
Earnings Trend: PHP's earnings have grown by 4.9% per year over the past 5 years.
Accelerating Growth: PHP's earnings growth over the past year (92.6%) exceeds its 5-year average (4.9% per year).
Earnings vs Industry: PHP earnings growth over the past year (92.6%) exceeded the REITs industry 46.5%.
Return on Equity
High ROE: PHP's Return on Equity (9.8%) is considered low.
How is Primary Health Properties's financial position?
Financial Position Analysis
Short Term Liabilities: PHP's short term assets (£87.4M) do not cover its short term liabilities (£132.1M).
Long Term Liabilities: PHP's short term assets (£87.4M) do not cover its long term liabilities (£1.1B).
Debt to Equity History and Analysis
Debt Level: PHP's debt to equity ratio (82.5%) is considered high.
Reducing Debt: PHP's debt to equity ratio has reduced from 137.4% to 82.5% over the past 5 years.
Debt Coverage: PHP's debt is not well covered by operating cash flow (10.3%).
Interest Coverage: PHP's interest payments on its debt are not well covered by EBIT (2.9x coverage).
What is Primary Health Properties's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PHP's dividend (3.84%) is higher than the bottom 25% of dividend payers in the UK market (1.34%).
High Dividend: PHP's dividend (3.84%) is low compared to the top 25% of dividend payers in the UK market (3.92%).
Stability and Growth of Payments
Stable Dividend: PHP's dividends per share have been stable in the past 10 years.
Growing Dividend: PHP's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (57.9%), PHP's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: PHP's dividends in 3 years are forecast to be covered by earnings (95.1% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Harry Hyman (65 yo)
Mr. Harry Abraham Hyman has been an Independent Non-Executive Chairman at Summit Properties Limited since September 2020. Mr. Hyman is the Founder of Primary Health Properties PLC and has been its Chief Ex...
CEO Compensation Analysis
Compensation vs Market: Harry's total compensation ($USD789.47K) is below average for companies of similar size in the UK market ($USD1.66M).
Compensation vs Earnings: Harry's compensation has increased by more than 20% in the past year.
Experienced Management: PHP's management team is considered experienced (2 years average tenure).
Experienced Board: PHP's board of directors are considered experienced (3.4 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Primary Health Properties PLC's employee growth, exchange listings and data sources
- Name: Primary Health Properties PLC
- Ticker: PHP
- Exchange: LSE
- Founded: 1995
- Industry: Health Care REITs
- Sector: Real Estate
- Market Cap: UK£2.153b
- Shares outstanding: 1.33b
- Website: https://www.phpgroup.co.uk
- Primary Health Properties PLC
- Greener House
- 5th Floor
- East Lothian
- SW1Y 4RF
- United Kingdom
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/18 17:33|
|End of Day Share Price||2021/09/17 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.