Primary Health Properties (LON:PHP) Hits New 52-Week High – Should You Buy?

Primary Health Properties Plc (LON:PHP)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 106.20 and last traded at GBX 106.10, with a volume of 1180270 shares changing hands. The stock had previously closed at GBX 105.20.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PHP. Jefferies Financial Group upped their price target on shares of Primary Health Properties from GBX 110 to GBX 114 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Berenberg Bank raised their price target on shares of Primary Health Properties from GBX 122 to GBX 128 and gave the company a “buy” rating in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Primary Health Properties has an average rating of “Buy” and an average target price of GBX 121.

Primary Health Properties Stock Up 1.0%

The firm has a market cap of £2.76 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 5.64 and a beta of 0.41. The stock’s 50 day moving average is GBX 100.67 and its 200 day moving average is GBX 95.72. The company has a quick ratio of 0.62, a current ratio of 0.50 and a debt-to-equity ratio of 96.73.

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.