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Primary Health Properties (LON:PHP) - Secure port in a storm

Tuesday, Aug 30 2011 by

Aug 30th 2011 - Edison Investment Research today published a report on Primary Health Properties (PHP.L, LSE:PHP, LON:PHP) entitled "Secure Port In A Storm". In summary, the report says:

The interims showed portfolio performance and revenue growth on track for our full year and dividend growth forecasts. H2 looks well set, with firepower ready for acquisitions and strategies under consideration to unlock value. The medium-term objective remains a material increase in portfolio scale and, although we assume that the debate over healthcare reform results in a development hiatus into 2012, PHP still expects to fold-in another £40-60m of assets from market purchases in the next year, refinance current debt and roll out earnings enhancing asset management initiatives. These should benefit operating margins and EPS in the short term. The shares have strong attractions in an uncertain economic backdrop. The downside, as ever, remains well-covered by long-term revenue visibility and...




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Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »