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.

Q1 NAV update shows strong valuation gains

Update | Property | 20/02/2015

The 7.0% prospective yield on MedicX shares is supported by secure cash flows on a broad portfolio of modern primary care properties, on long leases, with quasi-government backing. Existing debt is fixed at c 4.5%, with similarly long duration, and the Fund is negotiating new debt on recently improved terms. Growth prospects for the primary care sector are strong and the spread over funding costs remains attractive despite some yield compression, making acquisitions more expensive, but also driving valuation gains (£9.1m in Q115 alone). Q1 asset and rent growth are consistent with our expectations and the pipeline of new investment opportunities remains strong.

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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