Picton Property Income Ld Investors - PCTN

Picton Property Income Ld Investors - PCTN

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Picton Property Income Ld PCTN London Ordinary Share GB00B0LCW208 ORD NPV
  Price Change Price Change % Stock Price Last Trade
-0.40 -0.44% 90.50 14:14:45
Open Price Low Price High Price Close Price Previous Close
91.00 90.50 91.00 90.90
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Industry Sector

Top Investor Posts

danielbird193: Sounds sensible but I wish they'd include details of how much additional rent roll will result from the planned capex (or at least give a targeted IRR for the additional capital raised). If the IRR isn't higher than their WACC then it's a foolish move. I assume they (or their bankers) have done their sums so why don't they give humble investors this information?
mushypeas: 2w:- Picton was previously domiciled in the channel islands where no corporation tax was levied. The UK treasury is now bearing down on this tax exemption - hence the change to UK REIT status and with it no effective change in the distributions for an ISA investor.
janeann: see rns/ news released by pctn 22 dec ........... PRN 22 December 2017 PICTON PROPERTY INCOME LIMITED (Picton, the Company or the Group) LEI: 213800RYE59K9CKR4497 Key Information Document Picton Property Income Limited (the Company) will release a Key Information Document (KID) in compliance with the Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation on 2 January 2018. The KID will be available on the Companys website from the above date, within the Investors section, under Key Information Document. For further information please contact:
ugandalad: Anyone have views on the significance of the post whichI've uplifted from a Citywire email this morning purporting to emanated from HL. It appears to be 6 days old so not impacted the share price much yet. I assume because of the source it's true. quoteI have been told by HL that as from Jan 18 it will not be possible to buy any further shares in Picton either by them or any other UK stockbroker because of their failure to issue a KID which a requirement by the new rules (‘PRIIPs).. This sounds quite odd but HL have been quite clear on the matter (see below); "The new regulation requires that issuers of certain types of investments (known as ‘Packaged Retail Investment and Insurance Products’ or ‘PRIIPs’) must issue a Key Information Document (or KID) if they are available to private investors. Without a KID, private investors will not be able to make any further purchases, although they can continue to hold the PRIIPs they already own. They can also sell at any stage. The issuer of Picton Property Income Limited Ord NPV have not confirmed that they intend to publish a KID. This means that from 1 January 2018 you may not be able to buy any more of this stock. As well as the dealing instructions you give us, the new regulation applies to automated trades we place on your behalf (such as dividend reinvestments, limit orders and regular savings instructions). Therefore, from the start of next year we may also need to turn off any automated trades we would otherwise have placed in this stock. Please be assured that we will continue liaising with investment providers on this matter and if yours does publish a KID we shall let you know. However, if they fail to publish a KID then from 1 January 2018 you will not be able to buy any more of this stock." I wonder where this leaves current Picton shareholders who want to have more shares either through reinvestment of dividends or simply as a new investment- why is there a reluctance from Picton to issue the KID? Unquote
speedsgh: Net Asset Value as at 30 September 2017 and Interim Dividend Declaration - HTTP://www.picton.co.uk/investors/rns-announcements/rns-item/3389302 Continued NAV growth - Increase in Net Assets to £463.8 million (30 June 2017: £452.5 million). - NAV/EPRA NAV per share rose 2.5% to 85.9 pence (30 June 2017: 83.8 pence). - Total return for the quarter of 3.5% (30 June 2017: 3.4%). - Net gearing of 28.2% (30 June 2017: 27.0%). Fully covered dividend declared - Dividend of 0.85 pence per share declared and to be paid on 30 November 2017 (30 June 2017: 0.85 pence per share). - Annual dividend equivalent to 3.4 pence per share, delivering a dividend yield, based on 19 October 2017 share price, of 4.2%. - Dividend cover for the quarter of 119% (30 June 2017: 116%). Portfolio growth and improvement in occupancy - Like-for-like increase in property portfolio valuation for the quarter of 1.9% (30 June 2017: 1.8%). - Completed the purchase of a grade A office in Bristol for £23.15 million. - Completed the disposal of two non-core assets for £9.86 million, 5.9% ahead of the June valuation. - Completed seven lettings, six rent reviews and two lease renewals, on average 3.3% ahead of the June ERV, with a combined annual rent of £1.8 million. - Occupancy increased to 95% (30 June 2017: 94%). DIVIDEND DECLARATION A dividend of 0.85 pence per share is declared in respect of the period 1 July 2017 to 30 Sept 2017 (1 April 2017 to 30 June 2017: 0.85 pence). The dividend will be paid on 30 November 2017 to shareholders on the register on 10 November 2017. The ex-dividend date is 9 November 2017. Post-tax dividend cover over the quarter was 119% (30 June 2017: 116%).
speedsgh: Net Asset Value as at 31 March 2016 and Interim Dividend - HTTP://www.picton.co.uk/for-investors/rns-announcements/rns-item/3205415 Picton (LSE: PCTN), the income focused property investment company, announces its Net Asset Value for the quarter ended 31 March 2016 and Interim Dividend. Highlights during the quarter included: Financial * Net Assets increased to GBP417.1 million (31 December 2015: GBP408.8 million). * NAV/EPRA NAV per share rose 2.0% to 77.2 pence (31 December 2015: 75.7 pence). * Total return for the quarter of 3.1% (31 December 2015: 5.1%). * GBP15.8 million drawn from revolving credit facility at cost of 2.3% to part fund Manchester acquisition. * Average debt maturity of 10.7 years, with a weighted average interest rate of 4.4% per annum. * Net gearing of 34.6% (31 December 2015: 33.3%). Dividend * Dividend of 0.825 pence per share declared and to be paid on 31 May 2016 (31 December 2015: 0.825 pence per share). * Post-tax dividend cover for the quarter of 106% (31 December 2015: 117%). * Dividend yield of 4.7%, based on a share price of 70.25 pence on 22 April 2016. Commenting, Nick Thompson, Chairman of Picton, said: "We have continued to deliver results which have outperformed and it is particularly pleasing to deliver positive NAV growth, despite European Referendum headwinds and the one-off effect of the Chancellor's hike in stamp duty in March. This demonstrates the quality of our portfolio, the success of our strategy and its implementation over the period." DIVIDEND An interim dividend of 0.825 pence per share is declared in respect of the period 1 January 2016 to 31 March 2016 (1 October 2015 to 31 December 2015: 0.825 pence). The dividend will be paid on 31 May 2016 to shareholders on the register on 13 May 2016. The ex-dividend date is 12 May 2016... DEBT ...The Group has 22 million zero dividend preference shares which it intends to repay at maturity in October 2016. Picton has considered the potential of a conversion of ZDPs into ordinary shares, but has concluded this is not a viable option in the current market. It currently has GBP10.2 million of undrawn facilities, more than GBP95 million of uncharged property assets, and existing cash resources to facilitate the repayment. As such the Group has agreed terms in principle for a new five year debt facility, to meet the ZDP liability, which will be subject to usual due diligence before being finalised.
speedsgh: Not showing on investegate either. Announcement available from PCTN website here... Net Asset Value as at 31 December 2015 and Interim Dividend - HTTP://www.picton.co.uk/for-investors/rns-announcements/rns-item/3187515
redsonning: 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.
redsonning: The indicators do indeed seem to suggest that the price is a full one in the short term, so maybe there will be some retrenchment. The issue is the usual one for investors in this situation - do we really believe that the upward run is substantially over, or do we think that this is just a retrenchment from a price which has got ahead of itself? Those questions are much the same as the ones we are faced with in the wider market too, and indeed the pull back in propco prices is partly linked to the wider uncertainties. My own view remains that, in the longer term, commercial property still remains an attractive asset.
kavnish: Chaps , it's not so difficult a lot of private investors have considerable portfolios built over time. mine is a small one built over time. I generally wouldn't suggest doing something unless I did it myself. The fear of doing it is why managers charge ridiculous fees. The PCTN mgnmt presided over a disaster in terms of share price move. notice not a single cent of their own capital was at risk. Any investor can pick either private or public markets and their is a time to do this. I also do this with SME businesses so have a good idea on this but as always people need to DYOR and manage their own capital themselves. Public equities are only for my pension pot, I don't like the incentive structures for public equities. anagers carry no downside risk.
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