Palace Capital Share Discussion Threads

[shaker44] 21/10/2021 08:03

Tipped today by ST in IC. So MM will mark up and widen spread! 32% discount to nav looks good.

[nickrl] 20/10/2021 00:03

pdosullivan much as im against share buybacks on this occasion i would concur although I wouldn't want Sinclair and co to benefit from that.

[pdosullivan] 19/10/2021 22:59

The fact that PCA is able to get its own non-core properties away at or above book value makes me wonder about its ability to successfully recycle the capital from these disposals into new properties at suitably attractive prices. To this end, I suspect management would be hard pressed to find a better use for this money than to buy back its own shares at the current ~70p in the pound multiple.

[nickrl] 19/10/2021 14:03

Im not sure Hudson Qtr apts are exactly flying off the shelves but they've done enough to deal with the Barclays loan before it comes due so that is a positive as is another office letting at the site.

Be interested to know what they've sold out of and impact on NRI as I can't see the divi has got much upside from here.

Best thing would be for Peter G to take it out or at lest orchestrate a board change.

[hugepants] 19/10/2021 13:10

update today:


sounds encouraging

[cwa1] 30/9/2021 10:25

Disposal of Holding in Circle Property Plc



Palace Capital (LSE: PCA) the Main Market listed property investment company that has a diversified portfolio of UK commercial real estate in carefully selected locations outside of London but focusing on the office and industrial sectors, announces that it has disposed of its entire shareholding in Circle Property Plc. 1,592,500 shares were sold at a price of 200p per share.

Neil Sinclair, Chief Executive of Palace Capital commented: "Our investment has delivered a total return of 8.6% and we have taken the decision to exit now as part of our strategy to recycle capital into higher growth opportunities as part of our acquisition programme.

[cwa1] 23/9/2021 08:33

XD today for 3p, pay day 15/10

[baner] 21/9/2021 20:02

Surely the BOD must show neil Sinclair the Exit soon??? Palace has underperformed in terms of NAV growth in recent years to which should be added that the discount to this NAV is exceptionellt large. So this is a double whammy fiasco for Sinclair and his colleagues. Time for the major shareholders to take action. What are you waiting for ???

[cwa1] 10/9/2021 07:10

Dividend Declaration

Palace Capital (LSE: PCA), the Main Market REIT that has a UK regional commercial real estate portfolio focused on the office and industrial sectors in carefully selected locations outside of London, is pleased to announce that it will pay a quarterly dividend, in respect of the three months ended 30 June 2021 of 3 pence per ordinary share. The entire dividend will be paid as a Property Income Distribution.

The dividend will be paid on 15 October 2021 to shareholders on the register as at 24 September 2021. The ex-dividend date will be 23 September 2021.

[jbarcroftr] 08/9/2021 12:13

Bought a few this morning pretty secure dividend of nearly 5% paid quarterly and a big discount to NAV

[baner] 08/9/2021 11:41

igbert

that was indeed a good reason..........!

maybe lack of progress in York explains the terrible share price, however if so, that seems to be overdone: the discount to NAV is approx £50m and maybe they need to give away a £5m discount to get rid of the remaining flats?

[igbertsponk] 07/9/2021 09:11

They can, but unless geared up for this developers generally don't. They want the development finished so they can run away from angry owners wanting the cracks in the walls fixed!

[baner] 07/9/2021 09:08

Igbert - interesting point! However, WHO cannot Palace do this themselves, rent them out and dripfeed into the market?

[spectoacc] 07/9/2021 07:25

Is Phase 3 two flats? ;)

Strewth, those are gutsy prices - good on them, if they're shifting them.

Not sure about the mid-flowerbed smoking shelter.

[balcony] 07/9/2021 07:18

Cartar Jonas saying over 50% sold at phase 3 HQ!


hxxps://www.carterjonas.co.uk/flat/for-sale/toft-green/cnh200348

[mushypeas] 06/9/2021 18:34

Would you pay top dollar to live in a 1960's office block?

[baner] 06/9/2021 12:50

Sinclair must be told to clear his desk and move on - the company has not performed well and the discount to the NAV is of course an expression of the market´s disbelief in the BOD´s interest/capability to grow and deliver value to shareholders.

[spectoacc] 06/9/2021 10:05

Good point @nickrl. Surprised Hudson Qtr not selling better in this hot property market.

[nickrl] 06/9/2021 10:02

Probably need the cash to pay off the Barclays loan on Hudson Qtr if they haven't sold enough units.

You can only sell the family silver for so long.

[pdosullivan] 06/9/2021 10:00

Management has talked about swooping on accretive opportunities post-COVID, but the ongoing strength in commercial property prices as evidenced by PCA disposals suggests to me that a buyback makes more sense here.

[pdosullivan] 06/9/2021 09:55

Interesting to see yet another better-than-book-value non-core disposal from Palace Capital today yet the share price of £2.47 sits well below the end-March 2021 EPRA NTA of £3.50.

[igbertsponk] 06/9/2021 09:54

They say they're going to move into industrial then sell an industrial asset....

[konradpuss] 30/7/2021 21:53

More nonsense to keep the wheels on the gravy train.

Sinclair and his cronies should go - come on Peter!