RCS - Primary Health Props - Edison issues update on Primary Health Properties

Primary Health PropertiesAnnouncement

11/08/2023 07:15

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RNS Number : 9754I  Primary Health Properties PLC  11 August 2023

London, UK, 11 August 2023

 

Edison issues update on Primary Health Properties (PHP)

Interim results showed Primary Health Properties (PHP) to be well on track to
meet its fully covered 6.7p DPS target, the 27th consecutive year of growth.
Organic rent growth continues to increase, borrowing costs are nearly all
fixed/hedged and the cost ratio is among the lowest in the sector. Despite
this, the prospective dividend yield is now c 7%.

 

Visible, secure and growing income is the core of the PHP investment case.
Leases are long and substantially upward-only, 89% backed directly or
indirectly by government bodies, with little exposure to the economic cycle or
fluctuations in occupancy. The rise in interest rates has driven up the
prospective dividend yield to c 7% despite accelerating rent growth
underpinning the prospects for further growth in income and dividends.

 
Click here
(https://www.edisongroup.com/research/sustaining-dividend-growth/32580/?utm_campaign=RNSreach%20Press%20Releases&utm_source=RNSreach&utm_medium=Press%20Release)
to view the full report.

 

All reports published by Edison are available to download free of charge from
its website

www.edisongroup.com (http://www.edisongroup.com)

About Edison: Edison is a leading research and investor relations consultancy,
connecting listed companies to the widest pool of global investors. By
focusing on the volume and quality of investors reached - across institutions,
family offices, wealth managers and retail investors - Edison can create and
gauge intent to purchase, even in the darkest pools of capital, and then make
introductions via non-deal roadshows, events or virtual meetings.

Having been the first company in-market 17 years ago, Edison has more than 100
employees and covers every economic sector. Headquartered in London, Edison
also has offices in New York, Sydney and Wellington.

Edison is authorised and regulated by the Financial Conduct Authority
(https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000MfYL6AAN) .

Edison is not an adviser or broker-dealer and does not provide investment
advice. Edison's reports are not solicitations to buy or sell any securities.

For more information, please contact Edison:

Martyn King +44 (0)20 3077 5700 financials@edisongroup.com
(mailto:financials@edisongroup.com)

Learn more at www.edisongroup.com (http://www.edisongroup.com) and connect
with Edison on:

LinkedIn        www.linkedin.com/company/edison-group-/
(http://www.linkedin.com/company/edison-group-/)

Twitter           www.twitter.com/Edison_Inv_Res
(http://www.twitter.com/Edison_Inv_Res)

YouTube       www.youtube.com/edisonitv
(http://www.youtube.com/edisonitv)

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