Primary Health Properties PLC with ticker (LON:PHP) now has a potential upside of 11.1% according to JP Morgan.
JP Morgan set a target price of 105 GBX for the company, which when compared to the Primary Health Properties PLC share price of 95 GBX at opening today (07/03/2024) indicates a potential upside of 11.1%. Trading has ranged between 84 (52 week low) and 109 (52 week high) with an average of 3,168,607 shares exchanging hands daily. The market capitalisation at the time of writing is £1,236,924,312.
Primary Health Properties PLC is a United Kingdom-based real estate investment trust (REIT). The Company invests primary in healthcare accommodation across the United Kingdom and Ireland leased principally to GPs, government healthcare organizations and other associated healthcare users. The Company provides a range of services, including acquisition and development, property management, landlord and tenant, asset management, and finance. Its property portfolio includes Lanark Medical Centre, Lanark; Bower Mount Medical Practice; Shakespeare Medical Centre, Basingstoke; Cloughmore Medical Centre, Cloughmore; Regent Gardens Surgery, Kirkintilloch; Beacon Centre for Health, Swansea; Silk House, Macclesfield; Swindon NHS Health Centre; Dinas Powys Medical Centre, Dinas Powys; Syston Health Centre, Leicester; Loudoun Medical Centre; Pontesbury Medical Centre, Pontesbury; St Catherine’s Health Centre, Birkenhead; Fountains Health Centre, Chester, and Mary Seacole Centre, Clapham.
Primary Health Properties PLC 11.1% potential upside indicated by JP Morgan
- Written by: Charlotte Edwards
Latest Company News
Primary Health Properties and USS have increased their healthcare property joint venture target from £250 million to £400 million, with potential to reach £800 million subject to further approval.
Primary Health Properties has agreed to establish a 50:50 joint venture with GIC, seeded with 27 private hospitals valued at approximately £700 million. PHP expects to receive net proceeds of around £500 million to reduce debt, including repayment of its Assura acquisition bridging facility, while retaining a 50% interest and management responsibilities.
Primary Health Properties generated £5.8m of additional rental income from 480 rent reviews in the first nine months, with annualised rental growth of 3.1%, while joint venture transactions remain on track and five development projects continue to progress.
Primary Health Properties says it is in advanced discussions over a potential contribution of its private hospital portfolio to a new joint venture.
Primary Health Properties remains in focus after Shore Capital highlighted accretive earnings, rental growth momentum and an attractive yield outlook.
Primary Health Properties delivered adjusted earnings of £131 million in 2025, with adjusted EPS up to 7.3 pence and dividend cover improving to 112%. The group’s enlarged healthcare property portfolio reached £6.0 billion following the Assura acquisition.
