MedicX Fund (MXF)

Business description

MedicX Fund is a specialist investor in primary care infrastructure. Properties are let mainly to government-funded (NHS or HSE) tenants (c 89%) and pharmacies (c 8%) on GP surgery sites. It has one completed property in the Republic of Ireland and three under development.

Q3 progress towards full year forecast

Update | Property | 01/08/2014

MedicX Fund has reported steady portfolio and rental growth in Q3 with no surprises. The fund offers a good yield (c 7%) generated from a broad portfolio of long-dated leases in primary care infrastructure with quasi-government underlying risk. Earnings growth and cover on the progressive dividend are benefitting through the balance of this year and next from the deployment of equity raised in October 2013 and reduced debt costs. Octopus Capital's agreed acquisition (subject to regulatory approval) of MedicX Group, owner of the Investment Adviser to the fund, should have little impact on the fund; existing management will remain in the same roles.

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Stock data

Market cap.£360.2m
Last close84.000p
High / Low (52 weeks)92.2p / 78.2p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamProperty
SectorProperty

Price performance

%1m3m12m
Actual(0.3)(8.2)(4.6)
Relative *(3.4)(10.8)(11.9)

* % Relative to local index

Company news

MedicX Fund

Wed, 26 Jul 2017 13:41:15 GMT

MedicX Fund

Mon, 20 Jun 2016 11:48:45 GMT

MedicX Fund

Tue, 20 Oct 2015 10:41:15 GMT

MedicX Fund

Fri, 04 Jul 2014 12:22:30 GMT

MedicX Fund

Mon, 08 Feb 2016 16:07:30 GMT