Report

Primary Health Properties (PHP.L) Asset and dividend growth to continue

PHP reported interim results 21st August. It invests in primary care medical
property (surgeries, multi-use clinics), acquiring or funding development of
pre-let purpose-built assets and/or portfolios of standing stock. We estimate
a 50% portfolio expansion by 2018. 67% of leases are to GPs (NHS funded),
23% direct to NHS thus 90%+ are effectively Government paid, with the rest
pharmacies. 18 yearsÂ’ unbroken dividend increases paid since founding.
Underlying
Primary Health Properties PLC

Primary Health Properties is a holding company and a real estate investment trust. The principal activity of Co. is investment in primary healthcare property in the U.K. and Ireland. Co.'s properties are leased principally to general practitioners, government healthcare organizations and other associated healthcare users.

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Hardman & Co
Hardman & Co

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