Primary Health Properties (PHP): Resilient grow...

Edison Investment Research Limited Edison Investment Research Limited: Primary Health Properties (PHP): Resilient growth set to continue 08-March-2021 / 07:00 GMT/BST London, UK, 8 March 2021 Primary Health Properties (PHP): Resilient growth set to continue With its properties performing an essential role in the fight against the pandemic, and with 90% of rents paid directly or indirectly by governments, Primary Health Properties' (PHP's) portfolio was extremely resilient in FY20. DPS growth was uninterrupted due to consistently strong operational cash flows, and after a Q1 DPS increase of 5.1% in the current year, PHP is in its 25th year of unbroken dividend growth. With capital values also benefiting from a flight to quality, the FY20 total accounting return was 10.1%. Income visibility is strong, with long leases and substantially upwards-only rents, 90% backed directly or indirectly by government bodies, with little exposure to the economic cycle or fluctuations in occupancy. We expect an FY21e DPS of 6.2p, fully covered by earnings, representing a yield of 4.1. Click here to view the full report or here to sign up to receive research as it is published. All reports published by Edison are available to download free of charge from its website www.edisongroup.com About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Martyn King [phone] [e-mail] Learn more at www.edisongroup.com and connect with Edison on:  LinkedIn  https://www.linkedin.com/company/edison-group-/ Twitter   www.twitter.com/Edison_Inv_Res YouTube  www.youtube.com/edisonitv Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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1173619 08-March-2021