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PCTN Picton Property Income Ld

61.40
-0.60 (-0.97%)
Last Updated: 08:09:17
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Picton Property Income Ld LSE:PCTN London Ordinary Share GB00B0LCW208 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.60 -0.97% 61.40 61.10 61.90 61.90 61.40 61.90 26,820 08:09:17
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust 51.82M -89.53M -0.1642 -3.78 338.04M
Picton Property Income Ld is listed in the Real Estate Investment Trust sector of the London Stock Exchange with ticker PCTN. The last closing price for Picton Property Income Ld was 62p. Over the last year, Picton Property Income Ld shares have traded in a share price range of 60.50p to 80.40p.

Picton Property Income Ld currently has 545,224,598 shares in issue. The market capitalisation of Picton Property Income Ld is £338.04 million. Picton Property Income Ld has a price to earnings ratio (PE ratio) of -3.78.

Picton Property Income Ld Share Discussion Threads

Showing 251 to 274 of 575 messages
Chat Pages: Latest  11  10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
13/8/2013
20:49
At this rate we will soon be at a 5 year high. I bought this for income at the start of the year. The capital gain is a nice bonus.
this_is_me
13/8/2013
16:25
These have certainly got away from me for now!
skinny
13/8/2013
16:22
..? Like the old days again?
elmfield
13/8/2013
16:19
Strewth - 52p on the back of a Winterflood tip in IC online.

Summary following a Leonora Walters article:

"Because of the risks associated with commercial property, in particular liquidity problems, Ms Heyman suggests investors do not put more than around 5 per cent of their assets in, although they could consider a bit more if they have a particular need for income. Mr Port suggests adventurous investors could allocate 7 to 8 per cent.

Ms Heyman says it is very important to look at the type of property a fund holds. She prefers ones diversified across sectors, though likes ones with more exposure to warehouses than shops because as consumers increasingly shop online more is stored in warehouses while high street shops do less well. She also says quality of holdings is important and suggests you invest in more than one fund.

Analysts at broker Winterflood suggest IC Top 100 Fund Picton Property Income (PCTN) which offers a 5.88 per cent yield and trades at relatively modest premium to NAV of 3.85 per cent, in contrast to its peers. Winterflood says the trust's net loan to value ratio of 54.1 per cent makes it riskier than its more lowly geared peers, but that it continues to benefit from relatively inexpensive and long-term debt, and has reasonable headroom against debt covenants."

skyship
24/7/2013
09:37
Good to see reduction-however small-in voids and there seems to be quite a lot of letting activity so we should see a further reduction in voids this quarter.
Looking at the changes in the NAV the very small increase due to retained income and note further decline-albeit very very small-in property valuations.
For me nothing to get too excited about either way.

cerrito
15/7/2013
20:22
Looking for the re entry point just had a nibble at glen core
kavnish
21/6/2013
17:58
Kavnish - great opportunity today to buy DSC again at an attractive level.

I'm surprised they've pulled back 14% from their recent peak; though I have to admit I was also surprised at the extent and rapidity of their recent rise!

IMO DSC is once again the star propco choice as at 182p they are on a 27.5% NAV discount against a very historic 251p NAV. The prospective NAV of 265p+ would place them on a 31% discount with built-in growth to come in 2014.

skyship
21/6/2013
16:12
sold all of the remaining holding today,

lets hope we have a decent correction shortly

kavnish
20/6/2013
16:11
Yes don't think we will be waiting too long for a re entry point
kavnish
20/6/2013
12:50
Kavnish - well-timed sale. I sold too early, but used the cash to add in DSC, so happy with that. PCTN now, from all historic parameters, looks over-valued versus its 49p NAV. The yield is just one valuation parameter; and the only one supporting this level...
skyship
20/6/2013
09:20
believe its too do with the RTS announcement yesterday of stake change.

I used the opportunity to dump the majority of my holding , will wait for a pull back to re invest.

or it good be a badly timed sale on my part with momentum taking the stock to a premium to NAV as as happened at UKCM .

Time will tell, DYOR

kavnish
19/6/2013
14:57
Something happening in the background here or just delayed reaction to last Weds portfolio update? Now yielding just 6.1% at current offer of 49p.
speedsgh
14/6/2013
21:52
Just caught up with the figures.
Big picture is that today's share price of 44.5 is a good reflection of what for me it should be-although not sure if I can see the share price going much higher.
Clearly things to be concerned about including decline of EPRA NAV from 63p at Dec 10 to March 13's 49p; indeed as the Chairman said the discount narrowed but one could argue that this was just as much a function of falling NAV as well as rising share price
Increase in voids over the year distressing-increase in the year from 8.9% to 12.4% although good to see a slight reduction in last few weeks. Note that the office section is worst hit at 18.7% although they do have a pretty good story to tell here.
On the other hand a good liability structure; good to see in last 6 months operating cash flow minus investments made was greater than dividends paid-something I will focus in on, and of course reduced management charges.
Also they do have a diversified portfolio-ie 35% in industrial and if you look at their retail portfolio Stanfords and Parc Tawe are at different ends of the spectrum. I guess the fact that Stanfords located on one of the world's hottest real estate areas has 74% occupancy does show that we do need caution in looking at the headline voids figures.

cerrito
12/6/2013
10:24
Hopefully Picton will spend some of their excess income on renovation and reducing debt to below 50% LTV. With a pick up in secondary property asset values of say 5%, which is starting to happen now according to the EG, we could see a nice share price appreciation over the next year to say 50p to 60p.
paxman
12/6/2013
07:47
Dividend cover should be higher now, of course, based on reduced div of 3p....all other things being equal.
langland
12/6/2013
07:43
The update since year end is very encouraging.
nil desperandum
12/6/2013
07:23
This is comforting :-

"Following re-financing the Board undertook a review of its dividend policy and consequently re-based the quarterly dividend to 0.75 pence per share from November 2012, compared to 1 pence per share previously. The total dividends for the year were thus 3.5 pence per share. Dividend cover for the year was 122%, well ahead of the previous period's cover of 82%."

skinny
12/6/2013
07:17
Solid set of results, operationally and financially. No worries here, good dividend cover and no financing problems. Keep taking the dividends until the market picks up and then we are off to the races. Can't see a negative. Happy to hold.
lord gnome
31/5/2013
09:41
No need to sell when the price is still drifting up and they are good value.
this_is_me
31/5/2013
09:36
No longer as cheap as they were, so less to discuss. Now in profit-taking territory as the NAV discount is down to a mere 7%.

Possibly a good switch into CIC - a Tip of the Week in the IC today; and at 122p they are still on a 27% NAV discount.

skyship
31/5/2013
09:18
Looks like this thread has died a death. Everyone seems to have moved here....
lord gnome
17/5/2013
09:29
Looks like 50p is on the cards then.

Not sure how going ex-div means the share price will rise 11%?

Current yield at 45p is around 6.7% and an increase to 50p would reduce yield on current dividend level to 6.0%, which is perhaps a step too far at the moment.

redhill9
13/5/2013
18:47
Looks like 50p is on the cards then.
red army
30/4/2013
10:30
Goes XD on 15th May.
deadly
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