Picton Property Income Ld Share Discussion Threads

[lord gnome] 21/7/2015 15:28

Yes, in demand again. Looks like it has bottomed out for now and is back on the rise.

[petewy] 21/7/2015 13:10

Heavy buying today??

[lord gnome] 09/6/2015 07:37

A very tidy set of numbers this morning. NAV increasing to 69p should set a floor under the share price which has drifted somewhat in recent weeks. Forecast of 10% (ish) growth this year shows that there is still something to play for. A firm hold.

[arja] 04/6/2015 12:26

I notice the dividend has been getting less in recent years ! Why is that please ?

[petewy] 18/5/2015 15:12

Nortrust Nominees Limited bought 2.373,258 shares some 4.14%.
This is a new shareholder?

[gorilla36] 22/4/2015 09:03

Trundling along very nicely here.

[janeann] 13/3/2015 07:43

- but not as I read it to PI's

[petewy] 13/3/2015 07:28

Proposal to issue in excess of 14,598,540 New Ordinary Shares at 68.5 pence
per New Ordinary Share to raise gross proceeds in excess of £10 million

[lord gnome] 11/3/2015 13:04

Most welcome divi increase. Clearly firing on all cylinders. Holding tight to these.

[redsonning] 11/3/2015 10:08

Hardly surprising as the earlier dividend cut together with the excellent management had resulted in the company growing substantially stronger.

[speedsgh] 11/3/2015 09:39

Most welcome

[irenekent] 11/3/2015 08:38

Now growing dividends

[redsonning] 11/2/2015 17:08

One didn't need hindsight to appreciate that Picton was going upwards. The dividend cut made this clearer, since more was left in the company to grow net assets.

[lord gnome] 11/2/2015 16:32

Nope - that chart is a thing of beauty!

[johnroger] 11/2/2015 16:12

New high this month and still yielding over 4%
With the benefit of hindsight selling on a dividend cut is not always the right course of action!

[lord gnome] 20/10/2014 17:05

Excellent update today. NAV increasing, shares not overpriced at around current NAV. Divi stable and covered 125%. Rent roll increasing. Can we be far from a divi rise? A very nice little earner. Lots more to come here.

[cerrito] 23/7/2014 18:51

For me nothing newsworthy in today's announcement but for me a bit odd that it trades at a premium even though the occupancy rate is just 91%..though given that Boundary House and Angel Gate- whose occupancy is 80/79% is explained by refurbishment- influence the figures perhaps it is not as bad as it looks.
Cannot see myself buying but no plan to sell

[nickg2] 17/7/2014 07:09

Great acquisition! Good work!

[lord gnome] 10/4/2014 08:41

A very interesting and informative read, Sleepy. Thanks for the link.

[sleepy] 10/4/2014 01:02

Link to Random House warehouse brochure -

Most of building seems to date from 1982

Looks like seller was owned and/or managed by Goldman Sachs

[lord gnome] 08/4/2014 07:36

Yes, it did strike me as being a rather good purchase. There must surely be a story behind it. Distressed seller?

[skyship] 08/4/2014 06:42

Amazing that PCTN should be able to buy such a well tenanted asset on a yield of 8.2%! You have to wonder who sold it at that level...

======================================================
Picton acquires Random House Distribution Warehouse

Picton, the income focused investment company, has acquired a 335,000 sq ft East Midlands distribution warehouse, in Grantham, Lincolnshire for GBP11.48 million.

The property has good access to the UK road network, located immediately adjacent to the A1 North/South arterial route. The income is secured against The Random House Group Ltd (a Penguin Random House Company) for just under nine years and currently produces an annual rent of GBP1,000,000, equivalent to just under GBP3 per sq ft. The purchase price represents a net initial yield of 8.2% and capital value of GBP34 per sq ft.
======================================================

[speedsgh] 20/3/2014 13:03

Hi redsonning. Thanks for your reply. I've actually been invested in several of the comm prop inv trusts for quite some time so am relatively up-to-date with specifics. I was just trying to assess whether it is still attractive to add to existing holdings in the sector + if so, where the best opportunities currently lie. I approach this predominantly from a income perspective although am hopefully wise enough to understand that merely looking at the current dividend yield on offer is naive to say the least. My post was more an open scribbling of my initial thoughts, am not expecting anyone to do the research for me. Thought it might stimulate a bit of discussion on what is a relatively quiet thread. Your input is much appreciated.

[redsonning] 20/3/2014 12:29

Speeds....There are indeed answers to the questions you raise. But the issues involved are subtle and require detailed study of the accounts and ongoing information releases from each company. After that one then has to make a subjective assessment of whether the market slightly overvalues or undervalues each company in relation to the current underlying real parameters.
Because of this subjective element I don't think you will find anyone here being too definitive on the questions you raise because it will start to sound like advice.
However, I would very much encourage you to start this work of studying the companies in detail, because it will help you to take logical and considered decisions with regard to purchase and sale etc. For the propcos in particular, this is certainly within the realms of any reasonably intelligent and diligent investor (because the information is kept quite well up to date and is relatively clear in contrast to commercial trading companies) and you will find it worthwhile in the longer term to do this work.
Hope that helps a little.