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Primary Health Properties to raise up to £100mln to fund growing pipeline

Harry Hyman, managing director of Primary Health Properties PLC (LON:PHP), as well as Finance Director Richard Howell caught up with Proactive Investors following the announcement they're to raise up to £100mln.

The capital raising will enable the company to grow its portfolio through selected property acquisitions while maintaining gearing at a conservative level and supporting its progressive dividend policy.

The board's medium to long-term target is to operate with gearing in the range of 45% to 65% of gross property value and in the short to medium term no higher than 60%.

Quick facts: Primary Health Properties PLC

Price: 153.8 GBX

Market: LSE
Market Cap: £1.87 billion

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Primary Health Properties to 'continue generating strong returns'

Capital Network analyst Ed Stacey reckons the conditions remain in place for Primary Health Properties PLC (LON:PHP) to continue generating strong returns in the next few years and to continue its unbroken run of dividend increases. PHP is a real estate investment trust (REIT) that...

on 11/6/19

2 min read