Primary Health Properties reports dividend growth of 3%

LootboxPhobia · 2026-03-17T09:22:08+00:00

Primary Health Properties announces 3% dividend per share growth for fiscal year 2025, with net asset value declining to 99 pence. Contracted rent increased to £342 million, with government support accounting for 76%. The company has realized £9 million in cost savings, with portfolio valuation yields of 5.4%. Net debt stands at £3.4 billion, with liquidity of £571 million.

LootboxPhobia

2026-03-17 09:22:08

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Investing.com - Primary Health Properties (LON:PHP) announced on Tuesday that its dividend per share will increase by 3% for fiscal year 2025, while net asset value decreased by 4% to 99 pence. The healthcare real estate investment trust (REIT) made the announcement.

This £6 billion healthcare REIT reported earnings of 7.3 pence per share, up 4% from the previous year, and total dividends of 7.1 pence per share, up 3%, with a coverage ratio of 1.12 times.

The company’s contracted rent total increased to £342 million, with 76% supported by government sources. Rent reviews and asset management generate an additional £9 million annually, an increase of about 7%.

Primary Health Properties achieved an annual cost saving of £9 million after merging with Assura Growth REIT, with £7.5 million (83%) already realized. The company reported progress in expanding its primary care joint ventures and launching strategic partnerships for its private hospital portfolio.

The EPRA cost ratio is 9.8%, one of the lowest among UK REITs. The net initial yield on the portfolio valuation is 5.4%, up 20 basis points from the previous period, with occupancy remaining high at 99%.

Private hospitals and Ireland currently account for 13% and 6% of the portfolio, respectively.

Net debt totals £3.4 billion, with a loan-to-value ratio of 57%, above the company’s target of 40%. Debt costs have risen from 3.4% to 3.7%. Liquidity stands at £571 million, with a reduction plan underway.

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