Leading International Investment Research, Edison Investment Research

Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Equity Bottom-Up

Primary Health Properties / Equity Bottom-Up

Edison Investment Research is terminating coverage on Vivesto (VIVE), Diurnal Group (DNL), Palace Capital (PCA), Primary Health Properties (PHP), Silver One Resources (SVE), Induction Healthcare (INHC) and Axiom European Financial Debt (AXI). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant. Previously published reports can still be accessed via our website.

Edison Investment Research is terminating coverage on Vivesto (VIVE), Diurnal Group (DNL), Palace Capital (PCA), Primary Health Properties (PHP), Silver One Resources (SVE), Induction Healthcare (INHC) and Axiom European Financial Debt (AXI). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant. Previously published reports can still be accessed via our website. 

Primary Health Properties - Termination of coverage

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for the STOXX Europe 600 and EURO STOXX Indices for the March 2023 Rebalance.</li>
<li>Based on the latest available data, I see five ADDs/DELs for the STOXX Europe 600 Index during the March 2023 review.</li>
<li>Separately, <a href="https://www.smartkarma.com/entities/electricite-de-france-sa" target="_blank" data-smartkarma-citation="entities:21441:1" rel="noopener">Electricite De France Sa (EDF FP)</a> and <a href="https://www.smartkarma.com/entities/vantage-towers-ag" target="_blank" data-smartkarma-citation="entities:35602:1" rel="noopener">Vantage Towers (VTWR GR)</a> could have index outflows triggered by extraordinary float adjustments before or during the March 2023 review. </li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELs for the STOXX Europe 600 and EURO STOXX Indices for the March 2023 Rebalance.
Based on the latest available data, I see five ADDs/DELs for the STOXX Europe 600 Index during the March 2023 review.
Separately, Electricite De France Sa (EDF FP) and Vantage Towers (VTWR GR) could have index outflows triggered by extraordinary float adjustments before or during the March 2023 review. 


Quiddity Leaderboard STOXX Europe Mar 23: 5 ADDs/DELs and Potential Downweights for EDF and VTWR

As expected, Primary Health Properties (PHP) reported a strong financial and operational performance in H122 and is well into its 26th year of unbroken DPS growth. The company is ‘encouraged’ by strengthening rental growth and continues to selectively source accretive investment opportunities. With 95% of borrowings fixed rate or hedged, we expect further growth.

As expected, Primary Health Properties (PHP) reported a strong financial and operational performance in H122 and is well into its 26th year of unbroken DPS growth. The company is ‘encouraged’ by strengthening rental growth and continues to selectively source accretive investment opportunities. With 95% of borrowings fixed rate or hedged, we expect further growth. 

Primary Health Properties - Rental growth further accelerates

Coinciding with its FY21 AGM, Primary Health Properties (PHP) has provided a trading update for the quarter ending 31 March 2022 (Q122). During the period it made good progress in converting its investment pipeline, which continues to grow, while organic rental growth accelerated, in part driven by the inflationary environment. With ample liquidity and 97% of debt fixed/hedged, it is well placed for further growth.

Coinciding with its FY21 AGM, Primary Health Properties (PHP) has provided a trading update for the quarter ending 31 March 2022 (Q122). During the period it made good progress in converting its investment pipeline, which continues to grow, while organic rental growth accelerated, in part driven by the inflationary environment. With ample liquidity and 97% of debt fixed/hedged, it is well placed for further growth. 

Primary Health Properties - Progress with organic and acquisition-led growth

Income visibility and security continue to be the hallmark of Primary Health Properties (PHP), now in its 26th year of unbroken dividend growth. FY21 showed strong progress despite a competitive market for acquisitions, driven by rent reviews and asset management, and operational and financial savings from management internalisation and debt refinancing.

Income visibility and security continue to be the hallmark of Primary Health Properties (PHP), now in its 26th year of unbroken dividend growth. FY21 showed strong progress despite a competitive market for acquisitions, driven by rent reviews and asset management, and operational and financial savings from management internalisation and debt refinancing.

Primary Health Properties - Continuing strong DPS growth well supported

United Kingdom

Primary Health Properties PLC purchases freehold and long lease healthcare properties in the United Kingdom.  The Company leases the properties to health authorities and the National Health Service.

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Primary Health Properties (PHP LN)

Primary Health Properties - Termination of coverage

Edison Investment Research is terminating coverage on Vivesto (VIVE), Diurnal Group (DNL), Palace Capital (PCA), Primary Health Properties (PHP),...

Edison Investment Research

Quiddity Leaderboard STOXX Europe Mar 23: 5 ADDs/DELs and Potential Downweights for EDF and VTWR

At present, there are multiple names hovering around the borders requiring fairly small price gains/drops to become ADDs/DELs in the March 2023...

Janaghan Jeyakumar, CFA

Primary Health Properties - Rental growth further accelerates

As expected, Primary Health Properties (PHP) reported a strong financial and operational performance in H122 and is well into its 26th year of...

Edison Investment Research

Primary Health Properties - Progress with organic and acquisition-led growth

Coinciding with its FY21 AGM, Primary Health Properties (PHP) has provided a trading update for the quarter ending 31 March 2022 (Q122). During the...

Edison Investment Research

Primary Health Properties - Continuing strong DPS growth well supported

Income visibility and security continue to be the hallmark of Primary Health Properties (PHP), now in its 26th year of unbroken dividend growth....

Edison Investment Research

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