Primary Health Properties (LON:PHP) Shares Pass Below 200-Day Moving Average – Should You Sell?

Primary Health Properties Plc (LON:PHP) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 97.55 and traded as low as GBX 89.10. Primary Health Properties shares last traded at GBX 89.68, with a volume of 19,981,188 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Berenberg Bank increased their target price on Primary Health Properties from GBX 122 to GBX 128 and gave the stock a “buy” rating in a research note on Monday, January 26th. Deutsche Bank Aktiengesellschaft lifted their price target on Primary Health Properties from GBX 114 to GBX 115 and gave the company a “buy” rating in a research note on Friday, March 20th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 119.

Primary Health Properties Price Performance

The stock has a market cap of £2.33 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 5.64 and a beta of 0.73. The company’s 50 day moving average is GBX 102.78 and its 200 day moving average is GBX 97.55. 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 issued its 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%. Research analysts forecast that Primary Health Properties Plc will post 7.0875912 earnings per share for the current fiscal 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.