Hardman & Co issues research report

RNS Number : 6286A

Primary Health Properties PLC

30 September 2015

 

Hardman & Co issues research report on Primary Health Properties

Dividend cover improves to over 100% then more:  PHP interim results last month evidence good growth, strong efficiency gains in financing and operating costs and a pleasing revaluation gain. The dividend is progressive and with a cover of 89% H1, we see cover of just over 100% H2 and 104% next year. There have been 19 years' unbroken dividend increases paid since founding. We are encouraged to see operational efficiency improvements slightly ahead of expectations. Cost of debt stands at 4.9% and falling. This is a secure and growing real estate investment.

Please click here for the full report:

http://www.hardmanandco.com/sites/default/files/research_papers/PHP%20Sept%202015.pdf

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About Hardman & Co: For the past 20 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge.  Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259.

Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies.  It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer.

 

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