Primary Health Properties (LON:PHP) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Primary Health Properties Plc (LON:PHP) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 95.47 ($1.24) and traded as high as GBX 100.10 ($1.30). Primary Health Properties shares last traded at GBX 95.35 ($1.24), with a volume of 8,278,395 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PHP. Shore Capital reaffirmed a “buy” rating on shares of Primary Health Properties in a report on Wednesday, October 16th. Berenberg Bank raised their price objective on shares of Primary Health Properties from GBX 103 ($1.34) to GBX 110 ($1.43) and gave the stock a “buy” rating in a report on Wednesday, September 18th.

Primary Health Properties Stock Performance

The stock has a market cap of £1.29 billion, a P/E ratio of -9,605.00, a PEG ratio of 5.64 and a beta of 0.41. The company has a debt-to-equity ratio of 96.98, a current ratio of 0.48 and a quick ratio of 0.62. The firm’s 50-day moving average price is GBX 99.17 and its 200-day moving average price is GBX 95.50.

Primary Health Properties Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 10th will be given a dividend of GBX 1.73 ($0.02) per share. This represents a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, October 10th. Primary Health Properties’s payout ratio is currently -70,000.00%.

Primary Health Properties Company Profile

Primary Health Properties (PHP) is the leading investor in modern healthcare properties in the UK & Ireland. PHP is a UK based Real Estate Investment Trust (REIT) with a clear objective to create progressive returns to shareholders through a combination of earnings growth and capital appreciation.