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PCA Palace Capital Plc

2.00 (0.87%)
08 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Palace Capital Plc LSE:PCA London Ordinary Share GB00BF5SGF06 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  2.00 0.87% 232.00 34,333 16:35:19
Bid Price Offer Price High Price Low Price Open Price
221.00 231.00 232.00 225.00 230.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Agents & Mgrs 33.3M -35.7M -0.8262 -2.74 97.67M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:46:59 O 122 229.011 GBX

Palace Capital (PCA) Latest News

Palace Capital (PCA) Discussions and Chat

Palace Capital Forums and Chat

Date Time Title Posts
15/11/202320:58Palace Capital (PCA) - Action soon?1,329
03/6/201807:03Palace Capital (PCA) One to Watch Monday -
22/11/201613:12Palace Capital presenting at ShareSoc Supper, Manchester-
25/10/201612:10Palace Capital1

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Palace Capital (PCA) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-12-08 17:46:59229.01122279.39O
2023-12-08 16:35:19232.00342793.44UT
2023-12-08 16:12:06226.00818.08AT
2023-12-08 16:12:06226.00176397.76AT
2023-12-08 16:12:05226.004,50010,170.00AT

Palace Capital (PCA) Top Chat Posts

Top Posts
Posted at 09/12/2023 08:20 by Palace Capital Daily Update
Palace Capital Plc is listed in the Real Estate Agents & Mgrs sector of the London Stock Exchange with ticker PCA. The last closing price for Palace Capital was 230p.
Palace Capital currently has 43,215,295 shares in issue. The market capitalisation of Palace Capital is £97,666,567.
Palace Capital has a price to earnings ratio (PE ratio) of -2.74.
This morning PCA shares opened at 230p
Posted at 15/11/2023 09:57 by baner

U r absolutely right however the number of shares is coming down, mitigating the reduction in divi per share. Well done to the BOD who quickly took gearing down to next to nil, so that Palace will weather any possible storm in the market.
Posted at 15/11/2023 07:32 by pdosullivan
Reassuring results from PCA today. Better than book value disposals and share buybacks at a discount to NAV result in an end-September NTA of 294p a share. A tender is under consideration.
Posted at 23/9/2023 20:04 by skyship
Been very quiet here. PCA again looking good value; but why are we back to 235p? Any ideas?
Posted at 14/8/2023 08:54 by pdosullivan
I can see merit in the arguments that both yourself and Alders15 are making. I am long PCA and hope the better than book value buybacks plus a stabilisation in UK commercial real estate prices mean a final distribution well above 300p. But if PCA is selling off its remaining Crown Jewels and other sales are sub book value and/or UK commercial real estate values crater then the current price makes sense. It is a binary call.
Posted at 08/8/2023 19:07 by konradpuss
Banner, was it you buying today?

Share price up circa 20p.
Posted at 02/8/2023 08:48 by baner
The HQ flats are not really that important any longer - now that PC is debt free and these flats represent maybe 5-7% of the remaining assets. Maybe PC should accept a 10% discount on these flats and use the proceeds to buy back its shares at a 25% discount to the NAV - that makes a lot of sense. PC looks increasingly sound from a risk/reward point of view and it would not surprise if the management eventually get a well deserved maximum bonus - in which case there is a 50% upside in the share price from today´s level. Plus the dividend. Not bad in a 12-24 months perspective.
Posted at 02/8/2023 08:40 by makinbuks
Aren't PRS funds focused on affordable housing rather than high end city centre flats. I have said here before that PCA could rent them out and sell off one at a time. I have seen that strategy deployed in a slow market. Makes the development look more attractive to buyers as its "completed". Someone might make them a low ball offer for the remaining units on that basis
Posted at 01/8/2023 20:21 by pdosullivan
Appreciate that hindsight is 20/20, but PCA really should have sold the apartments at Hudson to a PRS fund. Leaving aside the more recent challenges in the U.K. market, such a sale structure would have unlocked a far faster recycling of capital.
Posted at 09/5/2023 16:00 by cwa1
Tipped by Thommo in the chronic...

Deep share price discount to NAV
The deep share price discount partly reflects the fact that Palace will have to commit significant capital expenditure to upgrade its assets to meet the Minimum Energy Efficiency Standards (MEES). That’s because 96 per cent of the portfolio has an EPC band rating A to D, but it is required to have a minimum C rating by April 2027 and B rating by April 2030.

That said, the portfolio has strong reversionary value as highlighted by 14 new lettings, 15 lease renewals and 16 rent reviews that generated £1.1mn of additional contracted rent in the 2022/23 financial year, or 11 per cent ahead of March 2022 ERV. Moreover, recent disposals have been made above carrying valuations, suggesting the ongoing asset disposal programme could surprise to the upside.

So, having last rated the shares a hold, at 205p, for their income and potential for capital upside when the market stabilises (‘Priced for a severe property downturn that’s unlikely to happen’, 24 November 2022), I now feel that the markedly improved debt position and more favourable market conditions for the asset disposal programme support a buy recommendation ahead of annual results on Thursday, 15 June 2023. Buy.
Posted at 05/5/2023 06:56 by baner
Excellent news this morning. Sales price strong and gearing now very low with further reduction in the pipeline. This means the company can now accelerate its buy back program. NAV by march 2023 should be just north of 300p so buy backs at the prevailing share price is of course a no-brainer that will increase the NAV for remaining shares. The risk/reward is really sound, with a well covered dividend and then the upside in the capital value on top of that. Clearly the new BOD is delivering here.
Palace Capital share price data is direct from the London Stock Exchange

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