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

Primary Health Properties Plc (LON:PHP)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 94.83 ($1.22) and traded as high as GBX 95.90 ($1.23). Primary Health Properties shares last traded at GBX 93.90 ($1.21), with a volume of 5,787,619 shares traded.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reissued a “buy” rating and issued a GBX 105 ($1.35) target price on shares of Primary Health Properties in a research report on Monday, March 3rd.

Primary Health Properties Stock Performance

The company has a market capitalization of £1.26 billion, a PE ratio of -146.58, a PEG ratio of 5.64 and a beta of 0.41. The company has a quick ratio of 0.62, a current ratio of 0.50 and a debt-to-equity ratio of 96.73. The company has a 50-day moving average price of GBX 91.20 and a two-hundred day moving average price of GBX 94.83.

Primary Health Properties (LON:PHP) last announced its quarterly earnings results on Friday, February 28th. The real estate investment trust reported GBX 7 ($0.09) earnings per share for the quarter. Primary Health Properties had a negative return on equity of 0.61% and a negative net margin of 4.84%. Analysts predict that Primary Health Properties Plc will post 7.0875912 EPS for the current fiscal year.

Primary Health Properties Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, February 21st. Investors of record on Thursday, January 9th were paid a dividend of GBX 1.78 ($0.02) per share. This is a positive change from Primary Health Properties’s previous dividend of $1.73. The ex-dividend date was Thursday, January 9th. This represents a yield of 1.9%. Primary Health Properties’s dividend payout ratio (DPR) is currently -1,092.68%.

Insider Activity at Primary Health Properties

In other Primary Health Properties news, insider Harry Abraham Hyman acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of GBX 92 ($1.18) per share, with a total value of £23,000 ($29,612.46). 2.81% of the stock is owned by corporate insiders.

About Primary Health Properties

Primary Health Properties plc is a leading investor in modern primary healthcare properties. The Company acquires or forward funds the development of modern, purpose-built premises that are leased to GP’s, government healthcare bodies, pharmacies and other providers of related healthcare services.