Primary Health Properties (LON:PHP) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Primary Health Properties Plc (LON:PHP)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 97.89 and traded as low as GBX 90.50. Primary Health Properties shares last traded at GBX 91.20, with a volume of 8,312,671 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Jefferies Financial Group reissued a “buy” rating on shares of Primary Health Properties in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft boosted their price objective 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. Berenberg Bank reaffirmed a “buy” rating and set a GBX 128 price target on shares of Primary Health Properties in a research note on Friday, April 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a GBX 105 price target on shares of Primary Health Properties in a research note on Wednesday, April 15th. Finally, Shore Capital Group reaffirmed a “house stock” rating on shares of Primary Health Properties in a research note on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of GBX 113.40.

Primary Health Properties Stock Performance

The company has a market capitalization of £2.37 billion, a P/E ratio of 13.82, a price-to-earnings-growth 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. The firm has a fifty day moving average price of GBX 93.21 and a 200-day moving average price of GBX 97.89.

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 (EPS) for the quarter. Primary Health Properties had a return on equity of 6.03% and a net margin of 45.95%. On average, equities research 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.