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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.

No surprises with interim results

Update | Property | 08/06/2015

NHS planning suggests good growth prospects for the primary care property sector, and the election result suggests policy continuity. 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 c 7.2% prospective yield. Interim results show earnings growth on track with dividend cover building.

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Stock data

Market cap.£355.1m
Last close82.000p
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
Actual1.22.5(9.1)
Relative *1.5(2.8)(12.4)

* % Relative to local index

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