Primary Health Properties plc R.E.I.T (PP51) Price & Analysis
PP51 Stock Chart & Stats
- Day’s Range
- EUR 1.12 - EUR 1.15
- 52-Week Range
- EUR 1.02 - EUR 1.29
- Previous Close
- EUR 1.12
- Volume
- 0
- Average Volume (3M)
- 5,233
- Market Cap
- EUR 2.93B
- Enterprise Value
- EUR 5.82B
- Total Cash (Recent Filing)
- EUR 31.00M
- Total Debt (Recent Filing)
- EUR 3.36B
- Price to Earnings (P/E)
- 15.4
- Beta
- 0.14
- Next Earnings
- Feb 18, 2027
- EPS Estimate
- N/A
- Next Dividend Ex-Date
- N/A
- Dividend Yield
- 7.60%
Bulls Say, Bears Say
Bulls Say
Defensive Healthcare Portfolio
High occupancy, long lease duration and substantial government-backed income provide durable visibility over rental receipts. This defensive tenant and contract profile can support recurring cash generation and reduce exposure to the volatility typical of broader commercial property markets.
Rental Growth And Asset Management
Rental reviews and asset management initiatives are creating organic income growth across the portfolio, rather than relying only on acquisitions. Continued rent progression should support future earnings and help protect the real value of income as healthcare property leases mature.
Merger Synergies And Refinancing
Most planned merger savings have already been delivered, while a lower cost base and improved financing terms should strengthen recurring earnings. These benefits can compound as remaining synergies are realised and refinancing savings flow through the enlarged portfolio.
Bears Say
Elevated Leverage
The materially higher leverage leaves PHP more dependent on asset values, refinancing conditions and successful deleveraging to preserve financial flexibility. Greater debt also increases the sensitivity of distributable earnings and investment capacity to financing costs.
Weak Recent Free Cash Flow
A zero free-cash-flow result reduces the evidence that current earnings are translating into internally generated funding. If this weakness persists, PHP may have less capacity to fund development, reduce borrowings or support distributions without relying on disposals or additional financing.
Dependence On JV And Disposals
Deleveraging depends partly on transactions that have not yet completed, leaving execution and timing risk around repayment of the bridge facilities. Delays or weaker-than-expected proceeds could prolong elevated leverage and constrain capital allocation during the next several months.
Primary Health Properties plc R.E.I.T News
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Primary Health Properties plc R.E.I.T Stock Smart Score
Company Description
Primary Health Properties plc R.E.I.T
Primary Health Properties (PHP) stands as the premier investor in contemporary healthcare real estate throughout the United Kingdom and Ireland. This UK-based Real Estate Investment Trust (REIT) is committed to delivering growing returns for its investors, achieved through a combination of increasing earnings and appreciating asset values. PHP accomplishes this by acquiring healthcare properties under extended lease agreements, which are underpinned by strong, government-backed financial commitments. The company manages an extensive portfolio of over 480 primary care sites, encompassing both existing facilities and planned developments. While most are general practitioner clinics, other properties are leased to various NHS entities, pharmacies, and dental practices.
- Sector
- Realestate
- Industry
- REIT - Healthcare Facilities
- CEO
- Mark Anthony Philip Davies
- Employees
- 156
- Website
- www.phpgroup.co.uk
- Address
- 5th Floor, Burdett House, London, GL, WC2N 6DU, GB
Primary Health Properties plc R.E.I.T (PP51) Earnings & Revenues
PP51 Earnings Call
Earnings Call SentimentPositive
The call conveyed a strongly positive operational and financial performance driven by the Assura merger: double-digit development returns highlighted, solid rental uplifts, material cost-synergy delivery, refinancing progress, and a near-term plan to deleverage via a private hospital JV. Near-term risks were acknowledged — elevated LTV in the short term, reliance on completion of the JV and planned disposals to repay remaining bridge facilities, and some sensitivity of valuations if financing costs were to rise. Overall, management presented confidence in execution and a clear path to targets, with more upside from rental reversion and development fees.
View all DE:PP51 earnings summariesPP51 Stock 12 Month Forecast
Average Price Target
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 15 | 5 | 2 |
| Technical Analysis | 3 | 5 | 2 |
| Moving Averages | 12 | 0 | 0 |







