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.

Strong valuation gains continue in Q2

Update | Property | 06/08/2015

Strong valuation gains, primarily the result of further yield contraction, have continued in Q2. Adjusted NAV has increased despite continuing dividend distributions. Asset growth appears consistent with our estimates and our underlying forecasts (excluding valuation gains) are unchanged. NHS planning suggests good growth prospects for the primary care property sector, and MedicX Fund offers a low-risk approach; it is neither developer nor operator but a long-term investor. A broad portfolio of modern primary care properties, long, quasi government-backed leases, and similar duration fixed-rate debt with modest (c 50%) gearing, provide secure cash flows to support the greater than 7% prospective yield.

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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

Price performance

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