Primary Health Properties (LON:PHP) Share Price Breaks Below 200 Day Moving Average – Here’s What Happened

Primary Health Properties Plc (LON:PHP) shares crossed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of GBX 93.87 and traded as low as GBX 91.20. Primary Health Properties shares last traded at GBX 91.50, with a volume of 15,291,922 shares.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PHP. Shore Capital Group reissued a “house stock” rating on shares of Primary Health Properties in a research report on Thursday, July 30th. Berenberg Bank boosted their target price on shares of Primary Health Properties from GBX 128 to GBX 133 and gave the company a “buy” rating in a research note on Friday, August 14th. Jefferies Financial Group reissued a “buy” rating and set a GBX 118 target price on shares of Primary Health Properties in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 115 price target on shares of Primary Health Properties in a research report on Friday, July 31st. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 115.20.

Primary Health Properties Price Performance

The company has a current ratio of 0.88, a quick ratio of 0.62 and a debt-to-equity ratio of 131.37. The business has a 50-day moving average price of GBX 94.40 and a two-hundred day moving average price of GBX 93.81. The firm has a market capitalization of £2.32 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 5.64 and a beta of 0.79.

Primary Health Properties (LON:PHP) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported GBX 3.80 earnings per share (EPS) for the quarter. Primary Health Properties had a return on equity of 6.20% and a net margin of 43.30%. As a group, research analysts forecast that Primary Health Properties Plc will post 7.0875912 EPS for the current year.

Primary Health Properties Company Profile

PHP is a leading investor in critical healthcare infrastructure in the UK and Ireland.

The overall objective of the group is to create progressive returns to shareholders through a combination of earnings growth and capital appreciation. PHP has an unbroken 30 year track record of dividend growth.

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.