Primary Health Properties Q1 Trading Update posted on Company News Board.

[idpickering]

Here; viewtopic.php?p=411233#p411233

The item includes this bit;

Dividend

On 25 March 2021 the Company declared its second quarterly interim dividend of 1.55p per Ordinary Share which will be paid on 21 May 2021 to shareholders who are on the share register at the close of business on 6 April 2021. The dividend will comprise entirely a Property Income Distribution ("PID"). The dividend is equivalent to 6.2p on an annualised basis and represents a 5.1% increase over 5.9p paid in 2020.

The Company intends to maintain its strategy of paying a progressive dividend, in equal quarterly instalments, covered by underlying earnings in each financial year. Further dividend payments are planned to be made in August and November 2021.

I hold these in my HYP, as of a year ago, topped up last month, and might top up my holdings yet again.

Ian.

[Arborbridge]

Here; viewtopic.php?p=411233#p411233

The item includes this bit;

Dividend

On 25 March 2021 the Company declared its second quarterly interim dividend of 1.55p per Ordinary Share which will be paid on 21 May 2021 to shareholders who are on the share register at the close of business on 6 April 2021. The dividend will comprise entirely a Property Income Distribution ("PID"). The dividend is equivalent to 6.2p on an annualised basis and represents a 5.1% increase over 5.9p paid in 2020.

The Company intends to maintain its strategy of paying a progressive dividend, in equal quarterly instalments, covered by underlying earnings in each financial year. Further dividend payments are planned to be made in August and November 2021.

I hold these in my HYP, as of a year ago, topped up last month, and might top up my holdings yet again.

Ian.

Around 4.2% yield - a little on the thin side for you, Ian?

[idpickering]

Here; viewtopic.php?p=411233#p411233

The item includes this bit;

Dividend

On 25 March 2021 the Company declared its second quarterly interim dividend of 1.55p per Ordinary Share which will be paid on 21 May 2021 to shareholders who are on the share register at the close of business on 6 April 2021. The dividend will comprise entirely a Property Income Distribution ("PID"). The dividend is equivalent to 6.2p on an annualised basis and represents a 5.1% increase over 5.9p paid in 2020.

The Company intends to maintain its strategy of paying a progressive dividend, in equal quarterly instalments, covered by underlying earnings in each financial year. Further dividend payments are planned to be made in August and November 2021.

I hold these in my HYP, as of a year ago, topped up last month, and might top up my holdings yet again.

Ian.

Around 4.2% yield - a little on the thin side for you, Ian?

Morning Arb, thanks for your input.

For me, in these strange(er) times, a 4.2% yield is very welcome. I often remind myself of a comment by Dod some time ago, about "The dangers of chasing high yields", or words to that effect.

As for PHP, I like the company, and what they do.

Ian.

[Arborbridge]

Here; viewtopic.php?p=411233#p411233

The item includes this bit;



I hold these in my HYP, as of a year ago, topped up last month, and might top up my holdings yet again.

Ian.

Around 4.2% yield - a little on the thin side for you, Ian?

Morning Arb, thanks for your input.

For me, in these strange(er) times, a 4.2% yield is very welcome. I often remind myself of a comment by Dod some time ago, about "Not chasing high yields", or words to that effect.

As for PHP, I like the company, and what they do.

Ian.

Well, I bought PHP too, so I'm not "anti" - I would top up if and when they come on to the radar. There's an argument that I would be better off topping up at 4.25% and selling one of my 2.5% shares

[Dod101]

Thanks Ian. This seems to me to be a nice little company with an almost guaranteed rental income stream and 4.2% is fine by me. In fact it has to be an ideal hold for dedicated HYPers.

Dod

[idpickering]

Around 4.2% yield - a little on the thin side for you, Ian?

Morning Arb, thanks for your input.

For me, in these strange(er) times, a 4.2% yield is very welcome. I often remind myself of a comment by Dod some time ago, about "Not chasing high yields", or words to that effect.

As for PHP, I like the company, and what they do.

Ian.

Well, I bought PHP too, so I'm not "anti" - I would top up if and when they come on to the radar. There's an argument that I would be better off topping up at 4.25% and selling one of my 2.5% shares

I hear you Arb. I've sometimes been tempted to drop DGE and move the dosh to a higher yielding share. DGE are my smallest holding, and I think I'm happy to leave it in my HYP.....I think....maybe?

Ian.

[idpickering]

Thanks Ian. This seems to me to be a nice little company with an almost guaranteed rental income stream and 4.2% is fine by me. In fact it has to be an ideal hold for dedicated HYPers.

Dod

You’re welcome. Thanks for your input Dod. I couldn’t agree more with your comment.

Ian.

[MDW1954]

Assura (LSE: AGR) does much the same thing, is the same size (£2bn), and is on an almost identical yield.

MDW1954

[Dod101]

Assura (LSE: AGR) does much the same thing, is the same size (£2bn), and is on an almost identical yield.

MDW1954

That is true. Is it also a REIT? Not that I will be buying. I think that one is enough in this quite specialist sector.

Dod

[kempiejon]

Assura (LSE: AGR) does much the same thing, is the same size (£2bn), and is on an almost identical yield.

MDW1954

Yup Assura was my pick but I can't really remember what if anything swung it for me. PHP seem to have a better decade long income histrory but more recently over 5 vyears AGR has grown the dividend more.

[idpickering]

Assura (LSE: AGR) does much the same thing, is the same size (£2bn), and is on an almost identical yield.

MDW1954

That is true. Is it also a REIT? Not that I will be buying. I think that one is enough in this quite specialist sector.

Dod

Although I do like to double up in a sector, if viable, I have to admit, that my thinking on this one is in line with what Dod said above. One can 'never say no though' I guess. I'm a 'maybe, leaning on the no side though.'....maybe?

Ian.

[Dod101]

I have tried to find Assura's Annual Report but cannot find it on their website. Anyway they announce their Annual Results next Tuesday 18 May. It will be interesting to compare them with PHP's.

Dod

[ian56]

I have tried to find Assura's Annual Report but cannot find it on their website. Anyway they announce their Annual Results next Tuesday 18 May. It will be interesting to compare them with PHP's.

Dod

This page and scroll down for all reports:

https://www.assuraplc.com/investor-rela ... sentations

[MDW1954]

Assura (LSE: AGR) does much the same thing, is the same size (£2bn), and is on an almost identical yield.

MDW1954

That is true. Is it also a REIT? Not that I will be buying. I think that one is enough in this quite specialist sector.

Dod

Yes, it is a REIT.

MDW1954

[monabri]

Looking at the free cash flow per share versus dividend comparison, my leaning would be towards PHP.

PHP
http://financials.morningstar.com/ratio ... region=GBR

AGR
http://financials.morningstar.com/ratio ... region=GBR

[Dod101]

I have tried to find Assura's Annual Report but cannot find it on their website. Anyway they announce their Annual Results next Tuesday 18 May. It will be interesting to compare them with PHP's.

Dod

This page and scroll down for all reports:

https://www.assuraplc.com/investor-rela ... sentations

Thanks. That just proves that am dim.

Dod

[Arborbridge]

Thanks Ian. This seems to me to be a nice little company with an almost guaranteed rental income stream and 4.2% is fine by me. In fact it has to be an ideal hold for dedicated HYPers.

Dod

An ideal "hold", but not necessarily an ideal "buy" or "add" I doubt it would qualify for a HYP purchase using the well known method for selecting HYP shares which PYAD laid down years ago.

In my case (and I suspect for most HYPers) 4.2% would be below their average yield (in my case, more than 10% below), so there would not be much chance of PHP coming to the top of the stack for topping up.
Like Unilever, it's one of those where HYPing ideal most probably have to be suspended: one buys it because "one feels like it" and/or because the share's yield is "as good as it gets". That's not so much HYPing as bending the guidelines because one feels like it. I'm not against that - I do it too!

Arb

[Dod101]

PHP is a REIT that has an income stream mostly paid directly to it from the UK Government and which has received its income without a ripple throughout the pandemic and in fact has managed to modestly increase some rents in that time, enabling it to carry serenely and increased its dividend but is merely a hold. Arb wouldn't think of buying it.

All around there are other REITs where rent is being with held, tenants closing down, and so on resulting in dividends being cut or at least suspended, but at one time in the past they were yielding something more like an average HYP share, ah, that's more like it. The average HYPer will have some of that.

I do not know what 'people' do but I buy shares like PHP and Unilever because they produce a reliable income stream come thick or thin, resulting in a dividend stream which is backed by a very sound business. Maybe why my portfolio was it would seem less affected than some by Covid.

Dod

Moderator Message:
Final sentence removed as off-topic. --MDW1954

[Arborbridge]

PHP is a REIT that has an income stream mostly paid directly to it from the UK Government and which has received its income without a ripple throughout the pandemic and in fact has managed to modestly increase some rents in that time, enabling it to carry serenely and increased its dividend but is merely a hold. Arb wouldn't think of buying it.

All around there are other REITs where rent is being with held, tenants closing down, and so on resulting in dividends being cut or at least suspended, but at one time in the past they were yielding something more like an average HYP share, ah, that's more like it. The average HYPer will have some of that.

I do not know what 'people' do but I buy shares like PHP and Unilever because they produce a reliable income stream come thick or thin, resulting in a dividend stream which is backed by a very sound business. Maybe why my portfolio was it would seem less affected than some by Covid.

Dod

Arb wouldn't think of buying it.


What makes you think that? I hold it, and I've topped it up in January, as it happens - likewise Unilever - so your hastily gleaned impression is incorrect. It's currently tenth in my top up ranking so whilst on the radar, is only in with small chance of immediate repeat topup according to my usual method. If I topped up ahead of my higher yielders, I would need to rationalise why it should jump the queue.

If you read what I said, it sprang from your statement that it was an 'ideal hold' - which is true - rather than an ideal buy. We agree. But from the POV of the HYP method of choosing shares, it is not ideal and what I wrote is that one would need to justify buying it for reasons other than pure HYP. Which you and I have both done, it seems.

I think, maybe, you gave greater weight to some parts of what I wrote than others, but I do apologise if I wasn't clear.
To summarise what I intended: PHP is a jolly good share to hold, but not an ideal HYP candidate according to the usual HYP criteria. I cannot see that my view is particularly controversial, giving as it does a fair summary of the situation

Cheers,


Arb.

[Dod101]

[
Arb wouldn't think of buying it.


What makes you think that? I hold it, and I've topped it up in January, as it happens - likewise Unilever - so your hastily gleaned impression is incorrect. It's currently tenth in my top up ranking so whilst on the radar, is only in with small chance of immediate repeat topup according to my usual method. If I topped up ahead of my higher yielders, I would need to rationalise why it should jump the queue.

If you read what I said, it sprang from your statement that it was an 'ideal hold' - which is true - rather than an ideal buy. We agree. But from the POV of the HYP method of choosing shares, it is not ideal and what I wrote is that one would need to justify buying it for reasons other than pure HYP. Which you and I have both done, it seems.

I think, maybe, you gave greater weight to some parts of what I wrote than others, but I do apologise if I wasn't clear.
To summarise what I intended: PHP is a jolly good share to hold, but not an ideal HYP candidate according to the usual HYP criteria. I cannot see that my view is particularly controversial, giving as it does a fair summary of the situation

No need to apologise. What I should have said was that Arb would not think of buying it as a new purchase. I am not sure that I understand that logic either. If you are intending to hold it indefinitely and it is a good share in every sense, then to quote the master of HYP, 'the time to buy is now'. If ypou are looking at a relatively short term trading opportunity that would be different. I much value the steady progression from the likes of PHP, Unilever and Diageo. PHP is I would agree hardly comparable with the two consumer brand companies but they do share the characteristics of a steady and reliable dividend payer. I would almost go as far as to say that these three are absolute bedrocks of my income portfolio. Not the only ones but important ones.

Dod