Primary Health Properties (LON:PHP) Shares Cross Below 200-Day Moving Average – Time to Sell?

Primary Health Properties Plc (LON:PHP) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 98.07 and traded as low as GBX 90.55. Primary Health Properties shares last traded at GBX 90.80, with a volume of 10,939,486 shares traded.

Wall Street Analysts Forecast Growth

PHP has been the subject of several research reports. Berenberg Bank restated a “buy” rating and issued a GBX 128 price objective on shares of Primary Health Properties in a report on Friday, April 24th. JPMorgan Chase & Co. upped their price objective on shares of Primary Health Properties from GBX 100 to GBX 105 and gave the stock a “neutral” rating in a report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft upped 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. Stifel Nicolaus reaffirmed a “buy” rating and issued a GBX 105 target price on shares of Primary Health Properties in a research report on Wednesday, April 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Primary Health Properties in a research report on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 113.40.

Primary Health Properties Stock Down 1.0%

The stock’s 50-day moving average price is GBX 93.20 and its two-hundred day moving average price is GBX 98.07. The stock has a market capitalization of £2.36 billion, a PE ratio of 13.76, a P/E/G ratio of 5.64 and a beta of 0.79. The company has a debt-to-equity ratio of 129.48, a quick ratio of 0.62 and a current ratio of 6.67.

Primary Health Properties (LON:PHP) last released 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%. As a group, analysts expect that Primary Health Properties Plc will post 7.0875912 EPS for the current fiscal year.

Primary Health Properties Company Profile

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.