Picton Property Income Ld Share Discussion Threads

[bolador] 06/2/2013 10:46

I think the most recent basics are as follows,
Dividend .75p X4 a year
Thus 3p per annum div gives 7.8% yield at 38.5p
The dividend is now covered by net rents received.
The NAV is 51p.
The discount to nav is 24%
Long term finance was arranged last year.

The discount compares with that of about 3% on UK Commercial Props which whilst about five times larger in market cap has some doubt about the cover on the div.The yields are similar. Looks worth 44p to me in steady markets.

Investec recently increased its holding of Picton to 9% from about 8%.

[sleepy] 05/2/2013 22:15

And dividend has been rebased

[cwa1] 05/2/2013 21:11

Urmmmm. I confuse easily. WHAT contains dodgy information please?

[this_is_me] 05/2/2013 20:44

That contains dodgy information - 2012 was a 15 month 'year' so. for example, the 5p dividend gives a false impression - think 4p for 12 months.

[cwa1] 05/2/2013 11:51

That might well have something to do with the recent relative strength:-

[mister md] 05/2/2013 11:49

Investec Wealth & Investment Limited have increased holding

[cwa1] 05/2/2013 08:33

Morning

Trickled off 36.5p. Has Mr "have all you want at 36.5p" dried up completely, or just taking a breather for a day or two and will be back soon?

[asmodeus] 29/1/2013 11:27

Yes (in my opinion),if its based offshore, and I believe it is, because divs. are paid gross.

[jimcar] 29/1/2013 09:23

Is there any tax advantage in holding this in an ISA for dividend income?

[cwa1] 29/1/2013 08:33

Morning All

Just finished my topping up here. Reasonably pleased with the position now. If there is a "tame" seller, I wonder who it is and how many? Getting them on the order book below the published offer has been very little problem recently, so I guess, as tilts says, that one of the MMs has got a seller in their back pocket.

[tiltonboy] 29/1/2013 07:57

Alan and ND,

Point taken re price v commission saving.

The MM is highly unlikely to have taken them on his book, more likely he has the seller in his pocket, and will take stock off him when needed.

[alanji] 29/1/2013 07:51

Tilts - because I only have an online broker! I paid 36.6.
I appreciate the point about active trading but surely 1m (and maybe more) is a hell of a lot to take onto their book?

[soi] 29/1/2013 07:23

After having watched for a while, bought some yesterday, 36.6

May buy more another time.

[nil desperandum] 28/1/2013 21:18

online quote was 36.36/36.63 in 1m either way through internet broker when I bought... not worth paying my real broker to try to improve on that.

[tiltonboy] 28/1/2013 19:24

Perhaps they are looking to make a real turn out of it. When there is active two-way business, like at the moment, they can make decent money. Not certain why people were paying more than 36.5p!

[mister md] 28/1/2013 18:35

I sold my ALPH today to buy PCTN

[alanji] 28/1/2013 17:14

I have sold my SREI and topped up PCTN to max allocation.
Tilts (or anyone) - any idea why 1m would be available to buy or sell and why do not mm's do a cross trade for a small turn?

[nil desperandum] 28/1/2013 16:44

you could easily trade 1m either way online and on a very tight spread. Great liquidity.

[tiltonboy] 28/1/2013 16:32

I went on the bid a couple of times today 36.5p and got shovelled in immediately. Obviously a fair bit of stock around.

[jaws6] 28/1/2013 16:31

yes,but no link to put here .I have read note and looks ok.
They have said they visited all central London property , A more detailed report on Picton will be released in due course.so will be nice to see full report when comes .

EDit

[skyship] 28/1/2013 16:26

jaws - do you mean another in addition to Oriel?

[jaws6] 28/1/2013 13:46

skyship
Just seen another buy note here today .
discount of 28% to nav

[jaws6] 28/1/2013 08:56

note out today -pctn

[cwa1] 28/1/2013 08:24

Covered dividend. Growing income. Central London values continuing to improve. Largely unaffected NAV. Encouraging level of activity. Debt reduction.....all in all, pretty satisfactory reading IMHO.