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Hardman & Co Research (PHP)

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Friday 28 February, 2020

Hardman & Co Research

Primary Health Properties (PHP): Final results show accelerating rental growth

Hardman & Co Research
Hardman & Co Research: Primary Health Properties (PHP): Final results show accelerating rental growth

28-Feb-2020 / 10:35 GMT/BST

Hardman & Co Research: Final results show accelerating rental growth

2019 results were announced on 12 February. 90% of PHP's income is backed by the UK or RoI governments. Occupancy consistently exceeds 99%. We are confident investors will still seek out REITs with a strong focus on categories that provide security of rising income. PHP's DPS growth rate is accelerating, in contrast to the wider real estate market. 2019's complementary MedicX merger was transformational, driving improvements that continue strongly in the short term, as well as being strategically beneficial. PHP has reduced costs of borrowing and overhead ratios, benefiting 2019, but also impacting 2020 and 2021 onwards.

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Hardman & Co
35 New Broad Street

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Mike Foster

+44 20 7194 7633


[email protected]

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About Hardman & Co: For the past 25 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge.  Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

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Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies.  It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer.


Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

End of Announcement - EQS News Service

986451 28-Feb-2020 


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