Primary Health Properties (LON:PHP) Share Price Passes Below 200 Day Moving Average – What’s Next?

Shares of Primary Health Properties Plc (LON:PHP) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 95.60 ($1.19) and traded as low as GBX 90.15 ($1.13). Primary Health Properties shares last traded at GBX 90.67 ($1.13), with a volume of 8,596,090 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Berenberg Bank boosted their price objective on Primary Health Properties from GBX 103 ($1.29) to GBX 110 ($1.37) and gave the company a “buy” rating in a research report on Wednesday, September 18th. Shore Capital restated a “buy” rating on shares of Primary Health Properties in a research note on Wednesday, October 16th.

Primary Health Properties Price Performance

The company’s 50 day simple moving average is GBX 95.10 and its two-hundred day simple moving average is GBX 95.60. The stock has a market capitalization of £1.22 billion, a P/E ratio of -9,115.00, a PEG ratio of 5.64 and a beta of 0.41. The company has a debt-to-equity ratio of 96.98, a current ratio of 0.48 and a quick ratio of 0.62.

Primary Health Properties Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, October 10th were issued a GBX 1.73 ($0.02) dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a dividend yield of 1.71%. Primary Health Properties’s dividend payout ratio is -70,000.00%.

About Primary Health Properties

Primary Health Properties plc is a leading investor in modern primary healthcare properties. The Company acquires or forward funds the development of modern, purpose-built premises that are leased to GP’s, government healthcare bodies, pharmacies and other providers of related healthcare services.