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Https://www.youtube.com/watch?v=tN4sNXzBC0w&ab_channel=BusinessDayTV
I’ve been slowly buying here.
It appears to be a solid investment with a decent dividend and has recently acquired another asset in Ireland which the company has stated is its preferred investment location presently.
I have added PHP to my new income portfolio today. I like the sound of the listing on the JSE, and the general steady nature of this enterprise. Also bought in time to get the next dividend. Looks like some of the stock was short in September, but it seems to be reducing. (Also took SREI, LGEN and KGH). Aiming for 7% return to next October.
Yep fully agree...Trouble is there's a lot of bargains out there at the mo.....
Seriously thinking of adding PHP to my income portfolio. Below 100p must rate as a decent entry price (even in the current climate).
If the board believe it’s a good move then I’m happy as their knowledge & experience is far greater than mine.
There certainly won’t be any issues getting on to the JSE,anyone bringing money into South Africa will be very welcome.
South African investors like property. They understand it. It offers them an opportunity to invest in GBP outside their domestic market with a current yield very close to 7% while awaiting capital appreciation. What is there not too like? Being listed in SA provides easier route to market. Unexpected turnup for PHP but appears a sound rationale.
Don’t understand the listing.
Surely there’s more liquidity in London than S.Africa?
Https://www.lse.co.uk/news/primary-health-properties-plans-secondary-listing-in-johannesburg-xtsqkozl8qs9z3j.html
Any ideas why they are doing this, is this in preparation to raising funds via some sort of shares issue however it is not part of the initial secondary listing, I hope there are no fund raises given the current SP.
Watched the recent presentation and PHP does look like a good investment. I have recently acquired a small holding and I think I will keep adding as the dividend potential looks appealing. It does looked oversold and I can’t believe we are far off the bottom but who knows?
........ Nice and steady.
Php talking to reginal health authorities to build 10 super surgeries for xrays ,tests , minor ops £300 mil to spend according to The times
In 5 years or so, with rates at say 3.5% this will look like a much better investment. It's just the cycle. Would likely be nearer the 120p mark at that sort of rate, but it might take a while to get there. Obtaining a yield of 8% will look very astute in say 3/4 years. I don't think we are heading back to 0%-1% anytime soon, if ever, but can easily see things looking more normalised once rates have started to bite - which they will.
It's been a torrid time with share price falls. I've been trying to average down, but like trying to catch the proverbial falling knife. Even if rates go up to 6%, the dividend yield is is now over 7% with a great long-term track record of annual dividend increases. On a long-term income-generation view, I'd much rather invest in PHP than a UK gilt. Need to divert eyes away from the daily share price falls and focus on the solid underlying assets and strong cash flow.
I see Richard Howell the CFO has been buying large chunks on a regular basis in the last year but I can't find data before that.
Is this something he does regardless or is there an uptick because of the share price slippage? It looks like perhaps he is sensing opportunity as he is putting a lot of his own money in?
Is the market anticipating net asset value write downs as the price seems weak or is this just a great time to be buying in?
I'm new to buying shares for dividend income so appreciate many of you will know of better opportunities but this looks pretty solid to me.
Well after some thinking, I have just added another 3487 shares. It just looks too cheap to pass.
Good dividend yield and looks like majority of loans capped so interest costs are known for next couple of years at least. I would say that management of loan costs well managed and uplifts in rentals will be positive additions to bottom line. Good to see development exposure low.
Under 100p makes it a >6.5% yield. Not bad if the only potential issues on the horizon are renewal of loans at higher rates, let’s be honest they will just pass on the cost to the customers won’t they?
I have a small position in this stock, and it does look like adding more soon might be a good idea, but what am I missing that the market sees?
It looks like the SP is discounted to NAV by about 9.47%. Hopefully this will account for some drop in property asset values, although I'm not convinced their particular assets will fall in line with domestic housing.
I cannot see any immediate threat to rentals based on its customers, and occupancy levels are good.
Garry, I believe that it’s down to higher interest rates.
Investors may question: In principle, is the Divi premium % over a bank deposit % worth the risk?
When the debt has to be re-financed, the new rates will affect profit. However, their debt borrowing rate is currently low and fixed for a few years yet. A solid business model and discount to Nav, may well tempt longer term view investors.
I'm entirely new to this company, and Im considering putting it into my portfolio. Appreciate it has an excellent dividend yield, but I usually buy recovery stocks in solid FTSE companies as I'm not interested in high-dividend yield. I'm looking for share growth. Could someone enlighten me on why the SP has fallen to current levels when finances and debt appear managed, and management seems very capable? It was trading around a median level of £1.45 in August 2022 and has dived ever since. What was the reason for the fall, and does anyone think a rise to those levels is on the card? I usually look for a 40% - 50% upturn in two years. Appreciate all help. GG.
It is positive and the annual report says the dividend has 100% cover but the sp keeps sagging and the lse fundamentals says earnings are 4p per share and the div is 6p. Must be wrong
Positive interview
https://finance.yahoo.com/news/primary-health-properties-very-robust-082249543.html
I don't think the properties will be reduced in valuation. Most are quite specialist adapted buildings, with long-term fixed rent agreements. With an ageing population, medical facility demand is only growing. It's not like an office or retail unit with fluctuating demand based on economic factors. The share price reduction is sentiment to REITs, without too much thought of the portfolios behind them. A perfect time to invest in quality, recession proof, progressive dividend payers like PHP.
I'm looking at PHP as a possible addition to my portfolio. However, I am a bit concerned by the LTV ratio of 43%. (Source https://www.phpgroup.co.uk/application/files/5416/5890/1486/PHP_2022_Interim_Statement_FINAL.pdf)
While doctors' surgeries are certainly a lot more recession proof than retail or offices, as fixed income assets, they could still be subject to down valuations in a higher interest rate environment. I note that most of the debt is fixed/hedged so there shouldn't be any payment problems, however does anyone know of any LTV covenants that could be triggered by portfolio revaluation?