Picton Property Income Ld Share Discussion Threads

[skyship] 26/1/2016 09:25

One has to admit - a pretty impressive set of numbers today:

Financial:
•Net Assets increased to £408.8 million (30 September 2015: £393.1 million).
•NAV/EPRA NAV per share rose 4.0% to 75.7 pence (30 September 2015: 72.8 pence).
•Total return for the quarter of 5.1% (30 September 2015: 3.9%), and 19.9% for the calendar year.
•Net gearing of 33.3% (30 September 2015: 34.6%).
•Average debt maturity of 11.6 years, with a weighted average interest rate fixed at 4.6% per annum.

Dividend;
•Dividend of 0.825 pence per share declared and to be paid on 29 February 2016 (30 September 2015: 0.825 pence per share).
•Post-tax dividend cover for the quarter of 117% (30 September 2015: 122%).
•Dividend yield of 4.8%, based on a share price of 69.25 pence on 25 January 2016.

etcetcetc

[lord gnome] 18/1/2016 15:15

I am still very overweight on property stocks, Skyship. I had already sold my holding in CAL and I still have holdings in SLI, CREI, RGL and UAI, so a modicum of portfolio adjustment is in order. They have done very well for me and I am sure that my good fortune last year was to be overweight in property and virtually zero weight in resource stocks.

[skyship] 18/1/2016 14:22

I still think commercial property represents good value as interest rates aren't going to climb fast, so propcos can borrow at 3% and invest for 6%. Elementary. For pension funds both direct property and property companies must be near top of their agenda.

[skyship] 18/1/2016 14:13

Seems a sensible move. Many propcos have seen sharp falls; take a look at Industry bellwether stock BLND - down from a high of 880p to the current 717p where they are on a 19.4% discount and yield 3.95%! 18.5% down from their peak, so pretty close to bear market territory!

[petewy] 14/1/2016 13:34

Huge buying but no increase in price. Waiting to get back in again.

[cerrito] 18/11/2015 22:18

One thing that caught my eye in the interims was that as of Sept 2015 IPD All Property Capital values were 22% below their June 2007 peak as I was surprised that still so far down from 2007 figures.
Yes interesting that trading at a discount again..and I would be surprised if the NAV has gone down since Sept 30 after taking into account the dividend.

[lord gnome] 18/11/2015 16:50

And right now you can buy them at below NAV. Special offer, 2p off!

[speedsgh] 18/11/2015 15:20

Half Yearly Report -

"We remain positive about our outlook, but are mindful of potential external risks to the property market, such as the threat of sharply rising interest rates, although unlikely in the short-term. With long-dated bond yields currently close to 2% and property yields at 5%, there remains a healthy premium in favour of the real estate sector, which has the additional advantage of income growth potential."

[skyship] 22/9/2015 14:00

Clearly the fall is 100% Market related – take a look at others in the Header on the CP+ thread (link below); and see the chart overlaid with SREI & UKCM:




free stock charts from uk.advfn.com

[danny500] 22/9/2015 13:46

a few reits also dropped similar amounts. anyone here sold? from what ive read recently on propertyweek.com the commercial market is ticking along nicely, in fact from an article last Friday fund managers and advisors have increased their forecasts for this years returns.

[speedsgh] 22/9/2015 13:06

Quite a sizeable drop in PCTN in the last couple of days to levels not seen since Jan this yr. Is this just falling with the wider market or does anyone know of any company specific reasons for the drop?

AFAICS the last quoted NAV (to 30/6/15) was 70.8p so the shares would now appear to be tradng at a discount to NAV for the first time in quite a while. PCTN should of course be updating the NAV (to 30/9/15) in mid Oct.

[petewy] 10/8/2015 15:29

Share buys still up but no real movement. A breakout| soon?

[petewy] 30/7/2015 11:27

added today. Cannot find % of institutional shareholders Investec 17% Hambro 5%..

People piling into this share.

[lord gnome] 21/7/2015 14:28

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

[petewy] 21/7/2015 12:10

Heavy buying today??

[lord gnome] 09/6/2015 06:37

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 11:26

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

[petewy] 18/5/2015 14:12

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

[gorilla36] 22/4/2015 08:03

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.