Primary Health Properties (PHP) Stock Overview
Primary Health Properties Plc (PHP) is a UK Real Estate Investment Trust and leading investor in modern primary healthcare premises. More details
| Snowflake Score | |
|---|---|
| Valuation | 0/6 |
| Future Growth | 3/6 |
| Past Performance | 4/6 |
| Financial Health | 0/6 |
| Dividends | 5/6 |
PHP Community Fair Values
Create NarrativeSee what 73 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Primary Health Properties Plc Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | UK£0.97 |
| 52 Week High | UK£1.10 |
| 52 Week Low | UK£0.87 |
| Beta | 0.79 |
| 1 Month Change | 2.93% |
| 3 Month Change | 7.50% |
| 1 Year Change | -3.54% |
| 3 Year Change | 1.36% |
| 5 Year Change | -37.26% |
| Change since IPO | 275.73% |
Recent News & Updates
Narrative Update • Jun 22
PHP: Recent Bullish Coverage Will Support Re Rating Potential Ahead
Analysts have nudged their price target on Primary Health Properties higher to £1.05 per share. This reflects a slightly lower discount rate and updated assumptions around long term profitability and P/E expectations following recent research coverage.Narrative Update • Jun 06
PHP: Bullish Research Support Will Drive Re Rating Potential Ahead
Analysts have nudged their fair value estimate for Primary Health Properties slightly lower to about £1.15, while backing higher revenue growth assumptions and a modestly higher future P/E. This view is supported by recent price target increases from £1.04 to £1.05 and a new positive initiation from Kepler Cheuvreux.Narrative Update • Apr 25
PHP: Updated Research And Higher Price Views Will Support Future Upside
Analysts have nudged their price target for Primary Health Properties higher to £1.05, reflecting updated views on discount rates, revenue growth expectations, profit margins and future P/E multiples informed by recent research. Analyst Commentary Bullish Takeaways Bullish analysts point to the revised £1.05 price target as recognition that recent research supports a higher valuation ceiling for Primary Health Properties compared with prior expectations.Narrative Update • Apr 10
PHP: Higher 2026 Dividend Track Record Will Support Future Upside
The analyst price target for Primary Health Properties has increased from £1.14 to £1.15, with analysts citing refreshed fair value estimates and updated P/E assumptions following recent price target lifts from major banks. Analyst Commentary Recent research updates, including a higher price target of 105 GBp at JPMorgan and a 1 GBp uplift elsewhere, give a window into how the Street is recalibrating its view of Primary Health Properties.Recent updates
Narrative Update • Jun 22
PHP: Recent Bullish Coverage Will Support Re Rating Potential Ahead
Analysts have nudged their price target on Primary Health Properties higher to £1.05 per share. This reflects a slightly lower discount rate and updated assumptions around long term profitability and P/E expectations following recent research coverage.Narrative Update • Jun 06
PHP: Bullish Research Support Will Drive Re Rating Potential Ahead
Analysts have nudged their fair value estimate for Primary Health Properties slightly lower to about £1.15, while backing higher revenue growth assumptions and a modestly higher future P/E. This view is supported by recent price target increases from £1.04 to £1.05 and a new positive initiation from Kepler Cheuvreux.Narrative Update • Apr 25
PHP: Updated Research And Higher Price Views Will Support Future Upside
Analysts have nudged their price target for Primary Health Properties higher to £1.05, reflecting updated views on discount rates, revenue growth expectations, profit margins and future P/E multiples informed by recent research. Analyst Commentary Bullish Takeaways Bullish analysts point to the revised £1.05 price target as recognition that recent research supports a higher valuation ceiling for Primary Health Properties compared with prior expectations.Narrative Update • Apr 10
PHP: Higher 2026 Dividend Track Record Will Support Future Upside
The analyst price target for Primary Health Properties has increased from £1.14 to £1.15, with analysts citing refreshed fair value estimates and updated P/E assumptions following recent price target lifts from major banks. Analyst Commentary Recent research updates, including a higher price target of 105 GBp at JPMorgan and a 1 GBp uplift elsewhere, give a window into how the Street is recalibrating its view of Primary Health Properties.Narrative Update • Mar 27
PHP: Higher 2026 Dividend And Richer P/E Framework Will Support Upside
Analysts have raised their price target on Primary Health Properties by £0.01, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Bullish Takeaways Bullish analysts view the £0.01 price target uplift as a reflection of refreshed fair value assumptions that better align the shares with current expectations for the portfolio and balance sheet.Narrative Update • Mar 10
PHP: Rising 2026 Dividend And Steady Metrics Will Support Bullish Outlook
Analysts have kept their £1.14 price target for Primary Health Properties unchanged, citing only very small adjustments to the discount rate and future P/E assumptions that do not materially alter their overall valuation view. What's in the News Primary Health Properties announced a first quarterly interim dividend for 2026 of 1.825 pence per ordinary share, equivalent to 7.3 pence on an annualised basis, compared with 7.1 pence distributed in 2025, which the company describes as a 2.8% increase (Key Developments).Narrative Update • Feb 24
PHP: Steady Fair Value And 2026 Dividend Will Support Balanced Outlook
Analysts have kept their price target for Primary Health Properties steady at £1.14, with only minor adjustments to inputs such as discount rate, revenue growth, profit margin, and future P/E contributing to an unchanged overall valuation view. What's in the News Primary Health Properties announced the first quarterly interim dividend in 2026 of 1.825 pence per ordinary share, equivalent to 7.3 pence on an annualised basis, with payment scheduled for 13 March 2026 to shareholders on the register on 30 January 2026 (Key Developments).Narrative Update • Feb 08
PHP: Higher 2026 Dividend And Slightly Richer Multiple Will Support Steady Outlook
Analysts have raised their price target for Primary Health Properties from €1.13 to €1.14, reflecting updated assumptions that include slightly higher revenue, a marginally higher discount rate, a stable profit margin profile and a modestly higher future P/E multiple. What's in the News Primary Health Properties declared the first quarterly interim dividend for 2026 of 1.825 pence per ordinary share, equivalent to 7.3 pence on an annualised basis (Key Developments).Narrative Update • Jan 25
PHP: Dividend Progress And Slightly Higher Multiple Will Support Steady Outlook
Analysts have nudged their price target for Primary Health Properties higher to reflect a slightly higher fair value estimate, a marginally lower discount rate, and a modestly adjusted future P/E assumption, with only minor changes to projected revenue growth and profit margin inputs. What's in the News Announced a first quarterly interim dividend for 2026 of 1.825 pence per ordinary share, equivalent to 7.3 pence on an annualised basis (Key Developments).Narrative Update • Jan 08
PHP: Stable Assumptions Will Sustain Earnings Accretion And Funding Cost Benefits
Analysts have kept their fair value estimate for Primary Health Properties broadly steady at £1.11 per share, attributing the unchanged price target to relatively stable assumptions around the discount rate, revenue growth, profit margin and future P/E. Valuation Changes The fair value estimate is held steady at £1.11 per share, reflecting no change in the core valuation outcome.Narrative Update • Dec 15
PHP: Assura Synergies Will Drive Earnings Accretion And Lower Funding Costs
Analysts have nudged their price target for Primary Health Properties up to £1.10 per share, reflecting expectations that the Assura acquisition will enhance earnings through scale-driven synergies and a lower cost of capital. Analyst Commentary Analysts’ reactions to the Assura acquisition have been broadly positive, with focus on the enlarged platform’s earnings profile, financing benefits, and integration execution risks.Narrative Update • Nov 27
PHP: Assura Integration Will Drive Earnings Accretion Through Cost Synergies
Analysts have modestly raised their price target for Primary Health Properties to £1.10 per share, citing anticipated operational synergies and an improved earnings outlook following the Assura acquisition. Analyst Commentary Bullish Takeaways Bullish analysts highlight that the acquisition of Assura is expected to bring increased scale and recurring income to Primary Health Properties, strengthening its market position.Narrative Update • Nov 13
PHP: Anticipated Assura Integration Will Drive Accretive Earnings And Cost Synergies
Analysts have raised their price target on Primary Health Properties from £1.08 to £1.11, citing anticipated earnings accretion and operational synergies following the Assura acquisition. Analyst Commentary Bullish Takeaways Bullish analysts highlight the anticipated earnings accretion driven by the integration of Assura, which is expected to position the company for improved profitability.Narrative Update • Oct 29
10-Year NHS Plan Will Modernize UK Primary Care Sites
Analysts have raised their price target for Primary Health Properties from £1.07 to £1.08, citing anticipated earnings accretion and synergy benefits following the company's acquisition of Assura. Analyst Commentary Analyst perspectives following the acquisition focus on the expected performance and potential risks for Primary Health Properties as the company integrates Assura.New Narrative • Jun 29
10-Year NHS Plan Will Modernize UK Primary Care Sites
Company benefits from government policy shifts, chronic under-supply, and demographic trends, driving opportunities for growth, high occupancy, and resilient earnings.Analysis Article • Feb 22
Could The Primary Health Properties PLC (LON:PHP) Ownership Structure Tell Us Something Useful?
Every investor in Primary Health Properties PLC ( LON:PHP ) should be aware of the most powerful shareholder groups...Analysis Article • Jan 07
Shareholders Of Primary Health Properties (LON:PHP) Must Be Happy With Their 79% Return
Stock pickers are generally looking for stocks that will outperform the broader market. Buying under-rated businesses...Shareholder Returns
| PHP | GB Health Care REITs | GB Market | |
|---|---|---|---|
| 7D | 4.9% | 3.8% | 0.8% |
| 1Y | -3.5% | 3.5% | 19.0% |
Return vs Industry: PHP underperformed the UK Health Care REITs industry which returned 3.5% over the past year.
Return vs Market: PHP underperformed the UK Market which returned 19% over the past year.
Price Volatility
| PHP volatility | |
|---|---|
| PHP Average Weekly Movement | 2.8% |
| Health Care REITs Industry Average Movement | 3.0% |
| Market Average Movement | 5.5% |
| 10% most volatile stocks in GB Market | 10.9% |
| 10% least volatile stocks in GB Market | 3.0% |
Stable Share Price: PHP has not had significant price volatility in the past 3 months compared to the UK market.
Volatility Over Time: PHP's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1994 | 156 | Mark Anthony Davies | www.phpgroup.co.uk |
Primary Health Properties Plc (PHP) is a UK Real Estate Investment Trust and leading investor in modern primary healthcare premises. We invest in flexible, modern properties for local primary healthcare. The overall objective of the group is to create progressive returns to shareholders through a combination of earnings growth and capital appreciation.
Primary Health Properties Plc Fundamentals Summary
| PHP fundamental statistics | |
|---|---|
| Market cap | UK£2.49b |
| Earnings (TTM) | UK£119.00m |
| Revenue (TTM) | UK£260.00m |
21.1x
P/E Ratio9.7x
P/S RatioIs PHP overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| PHP income statement (TTM) | |
|---|---|
| Revenue | UK£260.00m |
| Cost of Revenue | UK£27.00m |
| Gross Profit | UK£233.00m |
| Other Expenses | UK£114.00m |
| Earnings | UK£119.00m |
Last Reported Earnings
Dec 31, 2025
Next Earnings Date
Jul 30, 2026
| Earnings per share (EPS) | 0.046 |
| Gross Margin | 89.62% |
| Net Profit Margin | 45.77% |
| Debt/Equity Ratio | 129.1% |
How did PHP perform over the long term?
See historical performance and comparisonDividends
7.5%
Current Dividend Yield65%
Payout RatioDoes PHP pay a reliable dividends?
See PHP dividend history and benchmarks| Primary Health Properties dividend dates | |
|---|---|
| Ex Dividend Date | Jul 02 2026 |
| Dividend Pay Date | Aug 14 2026 |
| Days until Ex dividend | 5 days |
| Days until Dividend pay date | 48 days |
Does PHP pay a reliable dividends?
See PHP dividend history and benchmarksCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/26 17:41 |
| End of Day Share Price | 2026/06/26 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Primary Health Properties Plc is covered by 15 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Kanad Mitra | Barclays |
| Thomas Musson | Berenberg |
| Christopher Millington | Deutsche Bank |