Primary Health Properties (LON:PHP) Share Price Crosses Below 200 Day Moving Average – Here’s Why

Primary Health Properties Plc (LON:PHP)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 98.32 and traded as low as GBX 90.50. Primary Health Properties shares last traded at GBX 91.70, with a volume of 9,765,512 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PHP shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Primary Health Properties from GBX 114 to GBX 115 and gave the company a “buy” rating in a research report on Friday, March 20th. Stifel Nicolaus reiterated a “buy” rating and set a GBX 105 price objective on shares of Primary Health Properties in a research report on Wednesday, April 15th. Berenberg Bank reiterated a “buy” rating and set a GBX 128 price objective on shares of Primary Health Properties in a research report on Friday, April 24th. Jefferies Financial Group restated a “buy” rating on shares of Primary Health Properties in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Primary Health Properties from GBX 100 to GBX 105 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 113.40.

Primary Health Properties Price Performance

The firm’s 50-day moving average is GBX 94.67 and its two-hundred day moving average is GBX 98.32. The company has a market cap of £2.40 billion, a P/E ratio of 14.02, a PEG ratio of 5.64 and a beta of 0.79. The company has a debt-to-equity ratio of 129.48, a current ratio of 6.67 and a quick ratio of 0.62.

Primary Health Properties (LON:PHP) last announced its quarterly earnings results on Tuesday, March 17th. The real estate investment trust reported GBX 7.30 earnings per share for the quarter. Primary Health Properties had a net margin of 45.95% and a return on equity of 6.03%. Analysts anticipate that Primary Health Properties Plc will post 7.0875912 earnings per share for the current year.

About Primary Health Properties

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.