London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Looking at the recent share price drop and dividend yield it looks like a good time to buy again. Regards C8.
Hi, thinking of investing, anyone know the net asset value per share at the moment ? is the 314.9 jange quoted at end June 12 still about right ? thanks
quiet BB here. You could have a rave party and nobody would know. Seriously though, loved this share for years. Great dividend payer . Regards.
Still no friends - drifting downwards. Good prospects though
Not much action but feels safe to me
Worth holding I think - won't be adding as at top end of range
Primary Health Properties, a provider of modern primary healthcare facilities, has said one of its wholly-owned subsidiaries has been contracted to fund the development of and acquire a new modern, purpose built medical centre to be constructed in Stourbridge, West Midlands. The property will be wholly let to a GP practice for a 25-year term and will cost PHP £8.5m (net assets acquired £8.5m). The centre is expected to be completed in the second half of 2013.
Shares in Primary Health Properties are near their top of the trading range seen over the last year. However, the yield still looks attractive. In the six months to June, rental income from the group’s portfolio rose 6.3% to £16m, with pre-tax profits falling to £4.2m from £12m. This fall is unconcerning. It was down to a much larger revaluation of the company’s property portfolio in the first half of last year and higher finance charges. Stripping out the revaluation gain, operating profit was up 6.5% to £13.4m. Importantly, the dividend was raised to 9.25p from 9p and it will be made on Oct 6. The shares have a prospective yield of 5.5% rising to 5.6% in 2013. The main reason to hold the shares is as an income play, but there should be capital gains over time as the portfolio grows. The group has a “significant pipeline” of opportunities and £49m is in the hands of solicitors for the purchase of “high quality medical centre assets”. Demand for new, modern facilities should be driven by the Health and Social Care Act 2012 with the commissioning of primary care service into the hands of GPs. Buy for income, Questor says.
Shares in Primary Health Properties are near their top of the trading range seen over the last year. However, the yield still looks attractive. In the six months to June, rental income from the group's portfolio rose 6.3% to £16m, with pre-tax profits falling to £4.2m from £12m. This fall is unconcerning. It was down to a much larger revaluation of the company's property portfolio in the first half of last year and higher finance charges. Stripping out the revaluation gain, operating profit was up 6.5% to £13.4m. Importantly, the dividend was raised to 9.25p from 9p and it will be made on Oct 6. The shares have a prospective yield of 5.5% rising to 5.6% in 2013. The main reason to hold the shares is as an income play, but there should be capital gains over time as the portfolio grows. The group has a "significant pipeline" of opportunities and £49m is in the hands of solicitors for the purchase of "high quality medical centre assets". Demand for new, modern facilities should be driven by the Health and Social Care Act 2012 with the commissioning of primary care service into the hands of GPs. Buy for income, Questor says.
The group's Chairman, Graeme Elliot also commented on the Health and Social Care Act, which he believes may create more chances for PHP to invest in health properties: "The Act brings major structural changes to the delivery of health care in England, transferring the commissioning of care to more localised Clinical Commissioning Groups. "This supports a UK wide drive to deliver an increasing number of healthcare services within local communities. To do this efficiently and effectively, an increasing number of high quality primary care facilities will need to be provided. The Group is well placed to provide this investment..."
Primary Health Properties, the property investment firm, has reported declining pre-tax profits but is rubbing its hands at the prospect of financing the new facilities demanded by the government's controversial Health and Social Care Act. Rental income in the six months to the end of June came in at £16.21m, an increase of 6.3% on the prior year, while operating profit grew 6.5% to £13.4m. Profits before tax came in at £4.2m, down sharply on the same point in 2011 when the figure stood at £11.9m. This may explain why the share price dropped 0.74% in Wednesday morning trading. A recent share issue has slightly dented the net asset value per share, bringing it down from 318.7p in December to 314.9p by the end of June. The second interim dividend has been agreed at 9.25p, up on the 9p paid last year and the 16th successive dividend growth achieved by PHP.
Primary Health Properties PLC Primary Health Properties PLC ("PHP"), one of the largest providers of modern primary healthcare facilities, announces that it has entered into a conditional contract to acquire a modern, purpose built medical centre in Luton, Bedfordshire for approximately £3.9 million. The property is wholly let to Luton Primary Care Trust with 17 years remaining on the lease. More information on Primary Health Properties PLC can be found on www.phpgroup.co.uk
http://www.investegate.co.uk/Article.aspx?id=201207200700041005I
Harry Hyman, Managing Director of PHP commented: "Market conditions continue to present PHP with attractive investment opportunities. As a result we have a strong pipeline of opportunities at various stages of negotiation and we continue to carefully target acquisitions which we believe will deliver long-term shareholder value. The successful refinancing of our debt facilities this year underlines the importance the Board places on maintaining conservative balance sheet leverage. As such, equity is required to exploit the opportunities currently available to PHP and we are delighted our shareholders have demonstrated their continued support through participating in today's capital raise."
Cash placing to raise £19million Introduction PHP announces today that it is raising £19million (approximately £18.4million net of commissions and expenses) through a placing of 6,229,509 new ordinary shares of 50 pence each (the "Placing Shares") at a price of 305 pence per Placing Share (the "Placing Price") with institutional investors (the "Placing"). The Placing Price represents a discount of 6.2 per cent. to the closing middle market price of 325.25 pence per ordinary share on 17 May 2012, being the latest date prior to this Announcement. The full terms and conditions of the Placing are set out in the Appendix to this Announcement.
http://www.investegate.co.uk/Article.aspx?id=201205180700176426D
www.investegate.co.uk/article.aspx?id=201204160858443757B&fe=1 Outlook The completion of the refinance of the Group's banking facilities has provided a secure capital base and capacity for the continued growth of assets under management. The prospects for PHP remain strong as we have resources available to the Group to expand our portfolio and have a strong pipeline of opportunities that we are looking to secure. The passing of the Health and Social Care Bill into statute has now been achieved and will provide a platform to increase the number of approvals for new medical centres across England.
 PRIMARY HEALTH PROPERTIES PLC A specialist REIT providing Primary Care Accommodation for the NHS Primary Health Properties PLC ("PHP", the "Group" or the "Company"), one of the largest providers of modern primary healthcare facilities, announces the completion of the refinancing of its banking facilities with Royal Bank of Scotland ("RBS"), Santander Corporate Banking ("Santander") and Allied Irish Banks plc ("AIB"). New Club facility PHP has today entered into a new £175 million club debt facility (the "Club Facility") with RBS and Santander. This facility is for a four year term and comprises of a term loan of £125 million and a revolving debt facility of £50 million. The key covenants for the facility are an overall Loan to Value maximum of 65% and a minimum Interest Cover requirement of 1.4 times. Separation of AIB facility As part of the completion of the Club Facility detailed above, the existing bilateral loan with AIB has been restructured to provide a separate, specific security pool. A sum of £3 million has been repaid from the loan as part of this process leaving a balance of £27 million. All terms and conditions of the loan remain unchanged and the loan will continue to run through to its maturity in January 2013. Group Interest Rate Derivatives The above transactions have been completed without the need to break or pay down any of the Group's interest rate derivative portfolio. In order to guarantee the required minimum level of derivative cover for the duration of the Club Facility, the Company has taken advantage of favourable market conditions to buy out the cancellation option on interest rate swaps with a nominal value of £88 million, for the duration of the Club Facility. The cost of this buy out totalled £60,000. The above transactions, when combined with the new debt facilities secured in 2011, have extended the weighted maturity of the Group's debt facilities by over three years and provide the stable capital base and headroom to enable further asset acquisitions to grow the portfolio. Average margins on the Group's debt facilities now stand at 230 basis points, an increase from 70 basis points in 2011 with an average facility maturity of 5.6 years. Health and Social Care Act 2012 The Health and Social Care Bill received Royal Assent on 27 March 2012 becoming the Health and Social Care Act 2012. This removes the uncertainty about the structure of the NHS which has impacted the number of approvals of new medical centre developments. Harry Hyman, Managing Director of Primary Health Properties, commented: "The Board is delighted to have completed this refinancing. The new banking facilities have been secured at competitive rates and without the need to reduce the amount hedged in the Group's swap portfolio. The Board believ
Primary Health Properties 338¼p -3¾p Questor says Buy Primary Health Properties (PHP) has an unbroken 15-year record of dividend increases. That's why the shares are ideal for income seekers. PHP is a fully-listed real estate investment trust (REIT), which builds and manages doctors' surgeries and pharmacies on long-term contracts. It currently has 156 completed properties and has a further five it is committed to acquire. The total portfolio, including properties it is committed to buy, increased by 7pc over the year to £539.7m, when the £10.6m rise from a revaluation is factored in.
seem sound enough http://www.investegate.co.uk/Article.aspx?id=201202210700117756X
Thank you both.
results on tuesday 21st cheers
The 2010 Final Results were announced on 24th February last year so one could expect the 2011 results to be announced around about the same date this year.
Anyone know when the full year results are due? The financial calendar on the PHP website just says Feb 2012, so I tried e-mailing the finance director for an exact date but didn't get a response.
PRIMARY HEALTH PROPERTIES PLC A specialist REIT providing Primary Care Accommodation for the NHS Primary Health Properties PLC ("PHP", the "Group" or the "Company") one of the largest providers of modern primary healthcare facilities, today announces the completion of its new banking facility with Aviva and the acquisition of three further primary healthcare assets. Aviva debt facility As indicated in the recent Interim Management Statement, a new £75 million, seven year, interest only facility with Aviva has now been documented, closed and fully drawn. The all-inclusive interest rate is 4%, fixed for the term of the loan. Bi-lateral debt facilities The proceeds of the Aviva loan have been used to repay and cancel £30 million of the current Royal Bank of Scotland ("RBS") revolving facility and £20 million of the Allied Irish Bank ("AIB") revolving facility. The balance of £25 million increases resources available to the Group. Following the completion of the above transactions on 25 November 2011, the headroom available to the group after deducting existing commitments for forward purchases of £9.5 million is £82 million. The completion of the Aviva facility and subsequent re-balancing of the current bi-lateral loans facilitates the final phase of renewing the remaining £110 million revolving loan from RBS and the existing £65 million loan from Santander. Discussions are well progressed to renew these facilities for a prolonged term to commence in the early part of 2012 at floating rates of interest. This will be well ahead of the current expiry date of January 2013. It is expected that this will be undertaken before 31 January 2012. The remaining £30m facility from AIB is expected to continue at its existing margin until its scheduled expiry in January 2013. The renewal of the facilities with RBS and Santander and the continuance of the AIB facility will mean that will be no requirement to cancel any existing interest rate swaps. Asset acquisitions The Group also announces the completion of the acquisition of a fully let, modern medical centre in Grimsby for £7.9 million and the entering into of a commitment to forward purchase new medical centres at Arley in Warwickshire and Ramsgate in Kent for a total of £4.25m. Harry Hyman Managing Director of Primary Health Properties, commented: "The Board is delighted to have secured new banking facilities at such competitive rates and it welcomes Aviva as a new banking partner. As well as assisting the restructuring of existing facilities, Aviva has supported the Board's growth ambitions for the business by proving additional resource for the acquisitions of fresh assets. We look forward to a long and lasting relationship with Aviva."