Primary Health Properties Plc (PHP.L)
Ever wonder who owns the local GP surgeries you visit? Primary Health Properties builds and leases these essential NHS doctor hubs.
Is Primary Health Properties Plc a good stock for a UK beginner?
The honest version: There's no rating here and nothing for sale. In its favour: High proportion of rent backed indirectly by the UK government. Worth weighing: Recent earnings growth is negative year-on-year. Below, we lay out what it does, what its numbers mean, and the honest risks, so you can decide for yourself.
Over about 2 years to 2026-07-31. This is the share price only - reinvesting the dividends would add to it. Past performance is not a guide to the future, and it could just as easily have fallen.
How much has Primary Health Properties Plc actually fallen?
Over the last 2 years of daily prices, Primary Health Properties Plc fell as much as −17% from a high to a later low. Drops of this size are a normal part of owning a share - worth knowing in advance, so a dip doesn't come as a shock.
Worst peak-to-trough fall in the daily closing price over the period we hold. Past falls are not a forecast - it can fall further, or recover.
Based on beta - how much the price swings versus the whole market. Bumpier isn't bad; it just means a rougher ride, which matters more the sooner you might need the money.
Prices move on results, news and the mood of the whole market - no single headline explains a day, and a quiet week is usually just noise, not a signal.
Government spending on primary healthcare infrastructure surges.
Structural shifts in healthcare delivery reduce the need for physical surgeries.
What does Primary Health Properties Plc do?
This company acts as a landlord to the NHS, owning a vast portfolio of modern primary care medical centres across the UK and Ireland. It makes money by collecting reliable, government-backed rent from doctors and health authorities. The key thing to keep an eye on is how interest rates affect their borrowing costs, as property companies rely heavily on debt to fund new buildings.
On our factor screen it looks strongest on growth and quality, and weakest on momentum.
- ✓Pays a dividend - about 7.7% a year
- ✓Growing - revenue up about 119% over the year
- ✓Very profitable - turns about 43% of sales into profit
- High proportion of rent backed indirectly by the UK government
- Strong gross margins reflecting efficient property management
- Substantial dividend yield appealing to income-focused portfolios
- Momentum screens low (28/100)
- Higher borrowing costs eating into rental profits
- Potential devaluation of medical properties if yields rise
- Changes in government healthcare policy affecting surgery funding
What do Primary Health Properties Plc's numbers mean?
Does Primary Health Properties Plc pay a dividend?
Yes - Primary Health Properties Plc currently pays a dividend of about 7.7% a year (the yearly payout as a share of the price). A dividend is a slice of profit handed to shareholders; the yield moves as the price moves, and a company can cut or stop it.
What do the numbers say about Primary Health Properties Plc's dividend?
There's no rating here, and we don't judge whether the dividend will continue - that would be advice. Here are the figures income investors usually look at, and what each one means, so you can weigh it up yourself.
Figures are from the latest available data and can be distorted by one-off results. Past payments don't predict future ones, and a dividend can be cut at any time. This lays out the numbers to help you understand them - it is not a view on what will happen.
When does Primary Health Properties Plc report earnings, and how did recent quarters go?
Primary Health Properties Plc is next scheduled to report on about 2027-03-25 - dates can move, and we don't predict results; this just tells you when to look.
Each quarter a company reports its results against what analysts expected. ‘Beating’ or ‘missing’ is about that expectation, not whether the business is doing well in absolute terms.
See who else reports over the next two weeks →
Reported vs expected earnings per share (EPS) from published results; the expectation is the analyst consensus, not our view. Report dates are estimates that can move.
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Welltower Inc.What are the scenarios for Primary Health Properties Plc?
An illustrative range for the year ahead, with the assumption behind each case — not a prediction or a price target.
What are the pros and cons of Primary Health Properties Plc?
How many points the write-up makes each way — a balance check, not a score or verdict.
- High proportion of rent backed indirectly by the UK government
- Strong gross margins reflecting efficient property management
- Substantial dividend yield: The yearly dividend as a percentage of the share price - roughly the income you'd earn from dividends alone. appealing to income-focused portfolios
- Trading below the book value: A company's net assets - what it owns minus what it owes - per share. Price-to-book compares the share price to this figure. of its physical assets
- Recent earnings growth is negative year-on-year
- Sensitive to macroeconomic interest rate changes
- Heavy reliance on a single primary tenant type
- Higher borrowing costs eating into rental profits
- Potential devaluation of medical properties if yields rise
- Changes in government healthcare policy affecting surgery funding
The write-up's own warning lights — if these start happening, the case above changes.
- A sustained cut to NHS primary care property budgets
- Significant tenant default or widespread lease restructuring
Built from public filings & market prices, checked for an education-only tone, and never a price target. How we make these →
This plain-English summary was auto-generated on 2026-08-02 from public data and checked for an education-only, no-advice tone (the figures above carry their own, usually fresher, 'as of' date). It's information, never a recommendation.