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MedicX Fund (MXF)

Business description

MedicX Fund is a specialist REIT, listed on the premium segment of the LSE, investing in primary healthcare infrastructure in the UK and the Republic of Ireland.

Growing secure cash flow

Update | Property | 17/12/2014

The 7.2% 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. Debt is currently fixed at c 4.5% with similarly long duration. FY14 saw new equity of £48m invested, and more; we forecast further asset growth in FY15 and beyond, with some modest re-gearing from a low c 50%. Growth prospects for the primary care sector are strong and, despite some yield compression, the spread over funding costs remains attractive.

Tagged: Real estate

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Stock data

Market cap.£361.1m
Last close81.800p
High / Low (52 weeks)92.0p / 76.4p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamProperty
SectorProperty

Price performance

%1m3m12m
Actual5.45.4(9.1)
Relative *7.8(4.1)(12.6)

* % Relative to local index

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