Primary Health Properties (LON:PHP) Shares Pass Below 200-Day Moving Average – Here’s Why

Primary Health Properties Plc (LON:PHP)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 97.51 and traded as low as GBX 92.25. Primary Health Properties shares last traded at GBX 93.10, with a volume of 6,634,691 shares trading hands.

Analyst Upgrades and Downgrades

PHP has been the subject of several recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a GBX 118 price target on shares of Primary Health Properties in a report on Thursday, July 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a GBX 105 target price on shares of Primary Health Properties in a research report on Wednesday, April 15th. Berenberg Bank reissued a “buy” rating and set a GBX 128 target price on shares of Primary Health Properties in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 115 price target on shares of Primary Health Properties in a research report on Thursday, June 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Primary Health Properties from GBX 100 to GBX 105 and gave the stock a “neutral” rating in a report on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Primary Health Properties has a consensus rating of “Moderate Buy” and a consensus price target of GBX 114.20.

Primary Health Properties Price Performance

The stock’s 50-day moving average price is GBX 92.92 and its 200 day moving average price is GBX 97.51. The company has a quick ratio of 0.62, a current ratio of 6.67 and a debt-to-equity ratio of 129.48. The firm has a market capitalization of £2.44 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 5.64 and a beta of 0.79.

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.