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Started: ColinL1 , 5 Jun 2024 07:55
Last post: Riffgo, 7 Jun 2024 10:40
Because they think PHP won’t pay a full dividend. That’s the gamble… the longer interest rates remain high, the hard er it will become. But if interest rates fall, the shorters will need to buy back a lot of stock quickly.
??
This share os offering a 6.5-7% dividend at the moment, which is more than a bank account but not that much, hence the disinterest.
But.. when (if?) the BoE interest rate starts to drop that Divi will be superb. This company is heavily geared but it's tenants are mostly (89%) state owned Public Health bodies (UK NHS and IE HSE) so are as solid as they get tbh.
Current cost of the debt that they service is 3.3%, and most of it is fixed or hedged.
All in all - I think this is a risk of course but given the softening of the UK job market and the firming up of the economy point to an interest rate reduction cycle happening in H2 of this year - and we'll look back on this point as a great opportunity to lock in a 6.5-7% Divi.
I'm a few years from retirement yet but looking to build a healthy income stream - and this is one of the investments I am looking at to provide this. I've just recently doubled my holding in an ISA, I'll reinvest that Divi, compound it while I wait, and take a view at Xmas 2024. Hopefully - a merry Xmas :-)
I see GLG are really determined here. They just keep on increasing their short position. I sold a few to put in to THRL, as it goes exD this week. Id be happy with a drop here to buy back. That said GLG dont always get it right.
Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 0.958 GBP
Average target price 1.022 GBP
GLG Partners LP 1.53% 10 May 2024
GLG Partners LP 1.49% 9 May 2024
GLG Partners LP 1.52% 25 Apr 2024
GLG Partners LP 1.46% 24 Apr 2024
GLG Partners LP 1.39% 23 Apr 2024
GLG Partners LP 1.40% 18 Apr 2024
GLG Partners LP 1.30% 15 Apr 2024
GLG Partners LP 1.23% 8 Apr 2024
GLG Partners LP 1.16% 5 Apr 2024
GLG Partners LP 1.09% 8 Mar 2024
I think we might break a £1 soon.
Article here about Harry Hyman if any one is interested.
no paywall.
https://www.ft.com/content/c841a22f-25fb-41ab-a5ed-e9099c6692e2
Until interest rates drop the SP won’t move as with all REITs.
Jefferies raises Primary Health Properties target to 120 (110) pence - 'buy'
Almost a 10% upgrade.
Started: TheLoaf, 8 Mar 2024 15:09
Last post: Dartron, 8 Apr 2024 10:55
Nice one Harry. That is how you show the market and the shorts that you think the discount is too large.
Director purchase - Harry Hyman - £68,862.40
PCA - Claire Murphy - £19,887.41
Director purchase - Mark Davies - £136,650
PCA - Claire Murphy - £236,340
Close to half a million over the last month - £461k
I added more here recently, results were good. Director buys, and over 2% short needs to close.
Think £1 is in before end of month.
I'm happy to keep adding at these prices.
More will be added on Monday through my monthly ISA subscription & my dividends will be reinvested too.
Nice to see directors buying stock.
Started: igrowmoney, 19 Mar 2024 10:00
Last post: Bankruptstock, 19 Mar 2024 19:17
It’s all good I think we will see the share price back above £1 soon
Anyone more savvy than me? I see a lot of recent director buys - but are they buys out of their own pocket (a massive positive to me) or to do with getting lots of options? Then this morning a transfer from Richard Howells to his PCA Claire Murphy whoever/whatever that is?
Started: Bankruptstock, 28 Feb 2024 10:27
Last post: Bankruptstock, 8 Mar 2024 10:44
New director keeps buying always a good sign
Sorry to go off the PHP topic but I also hold UBS Global Enhanced Equity Income Sustainable which pays a nice dividend of around 10% which is paid monthly.....Maybe not your bag but worth a look...
Will look into it further steady dividend better than yo yo ones
Have a look at Triple point housing ....Obviously do your own research have held for a year or so have an average price of 50p and getting a 10% + dividend at the mo....
My small holding has a good tax free dividend in my isa. If only other companies were consistent with their dividend.
Started: Oldnbald, 28 Feb 2024 12:41
Last post: Oldnbald, 28 Feb 2024 12:41
Good set of results today in a tough market.
The headline drop in 'profit' is of no great concern - that's basically a reduction in Asset value (paper loss) and teh cash position remains good, add a Divi increase and it's happy days.
In what has been a difficult year for most companies encouraging to see a slight increase in divi.
Started: jakeK, 3 Nov 2023 16:25
Last post: bretkinney, 28 Dec 2023 08:31
I would say shorts closing would explain many of the jumps on these stocks, though I have not seen any reductions yet of short positions.
Nice rise. Is this the Johannesburg effect ?
Started: Squiffy, 6 Dec 2023 09:05
Last post: Squiffy, 7 Dec 2023 19:33
Thanks for the reply.
It is usually their intention.
https://www.hl.co.uk/shares/shares-search-results/p/primary-health-properties-ordinary-shares/share-research
"Primary Health Properties' purpose-built doctor's surgeries have a long track record of delivering results for shareholders and is now in its 27th consecutive year of dividend increases. As a REIT (real estate investment trust), PHP has to pay out the vast majority of profits as a dividend so that should ultimately feed through to investors' pockets, although of course no shareholder returns are guaranteed."
Have checked previous RNS & company website as I was wondering if the divi is being increased in 2024.
Has anyone seen any information regarding the dividend next year?
Regards,
Started: accipiter, 2 Dec 2023 17:01
Last post: accipiter, 2 Dec 2023 17:01
Brewin Dolphin late September 2023.
“There are some perfectly good companies in the property sector which have been unfairly lumped together with their peers. For one, Primary Health Properties (PHP) is an investment trust that invests in healthcare facilities, such as GP surgeries. Two years ago it yielded around 4%, but now it yields nearly 7%.”
Having recently bought in a small way I can’t see why PHP seem to be off the radar of many investors. It has a very good business model with a steady income stream from quality properties. The directors are heavily invested. The SP seems stuck around 100p. Am I missing something?
Started: Tonypeters, 2 Nov 2023 11:53
Last post: Tonypeters, 2 Nov 2023 11:53
Started: Dartron, 1 Nov 2023 17:58
Last post: Dartron, 1 Nov 2023 17:58
Long-term income U.K. real-estate investment companies were the darlings of their sector during the low interest-rate era, raising plenty of cash in their initial floats, but the proposition for shareholders today is very different, Berenberg says. Long-term income REITs generally provided investors steady dividend income but underdelivered on promised dividend growth, and some reinvention is now required, Berenberg analysts say in a research note. Although growth prospects are limited and share prices are likely to remain discounted, the market may have overreacted in some instances and there is some value on a medium-term basis as interest rates start to peak, the German bank says. Berenberg starts Assura, Primary Health Properties, Tritax Big Box and VIP Property at buy, and LondonMetric, LXI REIT and Supermarket Income at hold.
Started: Dartron, 18 Oct 2023 11:50
Last post: Troajan, 24 Oct 2023 17:38
What was going on with his eyes during that interview! Basically closed the entire time… php down lower again today but sounds like a bargain share at this price, I’ve accumulated a few the other day and will continue to add for the dividends
Started: TheLoaf, 2 Oct 2023 13:30
Last post: Squiffy, 7 Oct 2023 13:48
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).
Started: Squiffy, 7 Sep 2023 17:11
Last post: Squiffy, 7 Sep 2023 17:11
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.
Started: Squiffy, 6 Sep 2023 17:16
Last post: Henners007, 6 Sep 2023 22:28
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?
Started: TerryM1, 6 Sep 2023 11:02
Last post: TerryM1, 6 Sep 2023 11:02
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.
Last post: Squiffy, 18 Aug 2023 12:48
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.
Started: CASTLEBLACK, 10 Jul 2023 09:25
Last post: CASTLEBLACK, 10 Jul 2023 09:25
Php talking to reginal health authorities to build 10 super surgeries for xrays ,tests , minor ops £300 mil to spend according to The times
Last post: sageoflondon, 23 Jun 2023 17:23
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.
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?
Started: igrowmoney, 30 May 2023 12:03
Last post: igrowmoney, 30 May 2023 12:03
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.
Started: Digger01, 23 Mar 2023 08:44
Last post: Digger01, 23 Mar 2023 08:44
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.