DJ Hardman & Co Research: Primary Health Properties (PHP): Results demonstrate growth as well as security
Hardman & Co Research
Hardman & Co Research: Primary Health Properties (PHP): Results demonstrate growth as well as security
08-March-2021 / 07:20 GMT/BST
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Hardman & Co Research: Results demonstrate growth as well as security
17 February's strong results for 2020 have prompted us to raise 2021E dividend to 6.25p, from 6.125p. Expansion of the
market for modern primary medical assets accelerates and PHP's confidence in its repeated ability to deploy the fresh
equity raised in 2020 (and previous years) has had a direct positive effect on shareholder returns. We think this REIT
has significant per-share value growth potential, through capital deployment prudently raising LTV, through measured
but accelerating rent rises, prospective reductions in cost of debt and overhead cost efficiencies from the recent
internalising of the management structure.
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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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(END) Dow Jones Newswires
March 08, 2021 02:20 ET (07:20 GMT)
