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

Shares of Primary Health Properties Plc (LON:PHP) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PHP shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Primary Health Properties from GBX 114 to GBX 115 and gave the stock a “buy” rating in a research report on Friday, March 20th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Primary Health Properties in a research report on Wednesday, April 29th. Shore Capital Group reaffirmed a “house stock” rating on shares of Primary Health Properties in a research report on Wednesday, April 29th. Stifel Nicolaus reaffirmed a “buy” rating and set a GBX 105 target price on shares of Primary Health Properties in a research report on Wednesday, April 15th. Finally, Berenberg Bank restated a “buy” rating and set a GBX 128 price target on shares of Primary Health Properties in a research note on Friday, April 24th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of GBX 113.40.

Primary Health Properties Stock Up 1.9%

The company’s fifty day simple moving average is GBX 94.32 and its 200-day simple moving average is GBX 98.29. The company has a debt-to-equity ratio of 129.48, a current ratio of 6.67 and a quick ratio of 0.62. The firm has a market capitalization of £2.41 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 5.64 and a beta of 0.79.

Primary Health Properties (LON:PHP) last issued 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 return on equity of 6.03% and a net margin of 45.95%. On average, analysts forecast that Primary Health Properties Plc will post 7.0875912 EPS 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.