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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 Shares Traded Last Trade
  0.20 0.26% 78.20 499,324 16:35:29
Bid Price Offer Price High Price Low Price Open Price
77.80 78.40 78.40 77.00 77.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 46.54 146.99 27.00 2.9 428
Last Trade Time Trade Type Trade Size Trade Price Currency
17:48:26 O 6,081 78.20 GBX

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Date Time Title Posts
15/9/202210:25Undervalued, High-yielding Property Co...521
17/5/201309:29 Picton Property Income6

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Picton Property Income Ld (PCTN) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2022-10-06 16:48:5178.206,0814,755.34O
2022-10-06 16:28:0778.0025,43019,834.89O
2022-10-06 16:19:5978.202721.11O
2022-10-06 15:35:2978.2069,50254,350.56UT
2022-10-06 15:29:5577.803426.45AT
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Picton Property Income Ld (PCTN) Top Chat Posts

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Posted at 06/10/2022 09:20 by Picton Property Income Ld Daily Update
Picton Property Income Ld is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker PCTN. The last closing price for Picton Property Income Ld was 78p.
Picton Property Income Ld has a 4 week average price of 69.40p and a 12 week average price of 69.40p.
The 1 year high share price is 107p while the 1 year low share price is currently 69.40p.
There are currently 547,605,696 shares in issue and the average daily traded volume is 1,965,142 shares. The market capitalisation of Picton Property Income Ld is £428,227,654.27.
Posted at 27/7/2022 10:01 by speedsgh
2.0% increase in NAV to 122.9p (31/3/22: 120.4p)... Trading Update and Net Asset Value as at 30 June 2022 - HTTPS://www.investegate.co.uk/picton-property-income-ltd--pctn-/prn/trading-update-and-net-asset-value-as-at-30-june-2022/20220727070000P4F2F/ -------------------------- 0.875p PID payable on 31/8... Dividend Declaration - HTTPS://www.investegate.co.uk/picton-property-income-ltd--pctn-/prn/dividend-declaration/20220727070100P72C9/ Ex-Dividend Date - 4 August 2022 Record Date - 5 August 2022 Pay Date - 31 August 2022
Posted at 26/5/2022 11:29 by spectoacc
3.7% might seem like a very good rate in a few years ;) But fair point, tho makes it all the more strange that PCTN held close to NAV for so long.
Posted at 26/5/2022 09:25 by skyship
120p! Great NAV rise. The problem with PCTN as I've often stated is that they failed to reschedule their debt, so continue to be saddled with another 9yrs of 4.2%. That is why the dividend yield is where it is; far lower than all their competitors.
Posted at 26/5/2022 08:45 by spectoacc
PCTN's a strange beast, "Look at us, we're going to be the consolidator, we're valued at only a few % below NAV". Did no consolidating, now valued at the bog-standard 20% discount to 120p NAV. Can understand some disconnect btwn NAVs & S/Ps with a possible recession looming, but the discounts to hugely rising NAVs is odd. ie they may well fall, but appear to be going a lot higher first. PCTN now joined BCPT, BREI, SLI, SREI etc, in the "spoiled for choice" category.
Posted at 16/5/2022 10:17 by speedsgh
Acquisition - HTTPS://www.investegate.co.uk/picton-property-income-ltd--pctn-/prn/acquisition/20220516070000P414D/ Picton has completed the freehold acquisition of Charlotte Terrace, Hammersmith Road, W14 for £13.7 million. Charlotte Terrace comprises four adjoining buildings, which total 28,500 sq ft of office space and 4,400q ft of retail space, arranged over five floors. The property was redeveloped behind the façade in 1990 and is Grade II listed, meaning there is no business rates payable on void units. The property is located close to Olympia, which is currently undergoing a £1 billion redevelopment delivering a new creative district, with a new theatre, entertainment venue, hotel, office, retail and leisure space, which will enhance the surrounding area. The current annual rental income is £0.5 million equating to £34 per sq ft. The office space is let to seven occupiers and the retail space is let to two occupiers. This is expected to rise to over £1.1 million once the remaining units are leased. To improve occupancy, Picton will upgrade the offices and rollout SwiftSpace, its recently launched flexible lease offering. The purchase price reflects a net initial yield of 3.3%, rising to over 8% once fully let and reflecting a low capital value of £417 per sq ft, which is below its estimated replacement cost. The Company has funded the acquisition from existing cash resources. Michael Morris, Chief Executive of Picton, commented: “We have taken advantage of our diversified approach to invest in a mixed-use asset where we believe we can unlock significant income and value with our occupier focused asset management approach. In addition, we think this area will be significantly enhanced once the Olympia scheme is delivered over the next few years.”
Posted at 27/4/2022 08:09 by speedsgh
Dividend Declaration - HTTPS://www.investegate.co.uk/picton-property-income-ltd--pctn-/prn/dividend-declaration/20220427080000P8BA4/ Picton today announces an interim dividend payment in respect of the financial period from 1 January 2022 to 31 March 2022, of 0.875 pence per share. The dividend timetable is set out below: Ex-Dividend Date - 12 May 2022 Record Date - 13 May 2022 Pay Date - 31 May 2022 The dividend of 0.875 pence per share will be designated as a property income distribution (‘PID’).
Posted at 09/2/2022 10:01 by spectoacc
Agree BREI by far the most likely, portfolios closely aligned too. Maybe behind the scenes PCTN been comprehensively rebuffed and neither side chosen to go public. But - PCTN been public enough, for long enough, to think they should have acted by now. Boards do so like to keep their jobs - SEC a good example this morning.
Posted at 09/2/2022 09:56 by skyship
Hmm - would seem so. If there were any substance in Michael Morris' comments then surely they would have acted when discounts even wider than they are now. Though with BREI at 92.2p still on a 23.8% discount; perhaps remain a good target. PCTN MCap @ £556m; BREI MCap @ £220m.
Posted at 09/2/2022 08:53 by spectoacc
Probably fair to say by now that PCTN are all talk, no trousers, when it comes to mergers.
Posted at 27/1/2022 07:21 by speedsgh
7.4% increase in NAV to 112.8p. Quarterly dividend reinstated to pre-Covid level of 0.875p (3.50p annualised). Perhaps surprisingly all new lettings/renewals for the quarter were below Sept 2021 ERV. LfL valuation changes: Industrial 10.4% Offices -0.6% Retail 3.3% And another mention of acquisition aspiration... "We are encouraged by the momentum in our asset management pipeline and our focus is on growing income and value further during 2022, through leasing and acquisition activity." Net Asset Value as at 31 December 2021 - HTTPS://www.investegate.co.uk/picton-property-income-ltd--pctn-/prn/net-asset-value-as-at-31-december-2021/20220127070000P2261/ Picton announces a 7.4% increase in Net Asset Value for the quarter ended 31 December 2021 and a further 2.9% dividend increase, restoring the dividend to its pre-pandemic level. Financial Highlights ~ Net assets of £615.7 million (30 September 2021: £573.6 million). ~ NAV/EPRA NTA per share increased by 7.4% to 112.8 pence (30 September 2021: 105.0 pence). ~ Total return for the quarter of 8.2% (30 September 2021: 6.0%). ~ LTV of 20.8% (30 September 2021: 21.9%). Operational Highlights ~ Like-for-like portfolio valuation uplift of 6.0% over the quarter. ~ Completed six lettings, across all sectors, with a combined annual rent of £0.2 million, 3% below the September 2021 ERV. ~ Renewed / regeared seven leases, predominantly in the office sector, with a combined annual rent of £0.6 million, 1% below the September 2021 ERV. ~ Secured an average increase of 22% against the previous passing rent from three rent reviews, all in the industrial sector, with a combined annual rent of £0.4 million which was in line with the September 2021 ERV. ~ Occupancy of 91% (30 September 2021: 93%). Rent Collection ~ 98% of December 2021 rents have been collected or are expected to be received under monthly payment plans. ~ 98% of September 2021 rents have been collected. Dividend increased by 2.9%, and returned to its pre-pandemic level ~ Increased interim dividend of 0.875 pence per share declared and to be paid on 28 February 2022 (30 September 2021: 0.85 pence per share). ~ Annualised dividend equivalent to 3.5 pence per share, delivering a dividend yield of 3.3%, based on 25 January 2022 share price. ~ Dividend cover for the quarter of 115% (30 September 2021: 122%). Lena Wilson CBE, Chair of Picton, commented: “The strength of NAV growth and underlying rent collection has given the Board confidence to restore the dividend to its pre-pandemic level, marking the fourth increase since it was reset at the start of the pandemic.” Michael Morris, Chief Executive of Picton, commented: “We have seen strong valuation performance this quarter, reflecting the improving demand in the market for assets such as ours. We are encouraged by the momentum in our asset management pipeline and our focus is on growing income and value further during 2022, through leasing and acquisition activity.”
Picton Property Income Ld share price data is direct from the London Stock Exchange
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