Added to YB: 2026-08-10
Pitch date: 2026-08-06
PHP.L [neutral]
Primary Health Properties Plc
+0.42%
current return
Author Info
No bio for this author
Company Info
Primary Health Properties Plc (PHP) is a UK Real Estate Investment Trust and leading investor in modern primary healthcare premises.
Market Cap
GBP 2.5B
Pitch Price
GBP 0.95
Price Target
N/A
Dividend
7.63%
EV/EBITDA
19.09
P/E
15.16
EV/Sales
15.84
Sector
Health Care REITs
Category
dividend
Primary Health Properties PLC (LON: PHP) Interim results
PHP.L (earnings): H1 2026 adj EPS +9% to 3.8p; net rent £176m (2x YoY on Assura). Trades 0.92x NAV (99p/sh), 7%+ yield, 30yr dividend growth. Leverage high at 57% LTV (target 40-50%), falling to ~53% via hospital JV & USS deals (agreed, not closed). Cover thin ~103%. Rents +3.2%/yr, 99% occupancy. Re-rating hinges on deal completions.
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