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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
|
|
|---|---|---|---|---|---|
| -0.50 | -0.78% | 63.50 | 2,963,113 | 16:29:59 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 63.50 | 63.80 | 64.00 | 63.20 | 63.40 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Real Estate Investment Trust | 54.69M | -4.79M | -0.0088 | -72.16 | 349.42M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:48:11 | O | 14,021 | 63.50 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 10/12/2024 | 07:00 | UK RNS | Picton Property Income Limited Office disposal and asset management.. |
| 26/11/2024 | 16:54 | UK RNS | Picton Property Income Limited PDMR Transaction |
| 19/11/2024 | 14:44 | UK RNS | Picton Property Income Limited Holding(s) in Company |
| 13/11/2024 | 13:49 | UK RNS | Picton Property Income Limited Results analysis from Kepler Trust.. |
| 12/11/2024 | 11:43 | ALNC |  Picton Property Income swings to profit amid rental income growth |
| 12/11/2024 | 07:00 | UK RNS | Picton Property Income Limited Half Year Results |
| 29/10/2024 | 12:58 | UK RNS | Picton Property Income Limited Holding(s) in Company |
| 29/10/2024 | 07:00 | UK RNS | Picton Property Income Limited Dividend Declaration |
| 04/10/2024 | 11:57 | ALNC | Picton Property's Chair Wilson to step down on FirstGroup appointment |
| 04/10/2024 | 08:30 | UK RNS | Picton Property Income Limited Notice of Half-Year Results |
Picton Property Income Ld (PCTN) Share Charts1 Year Picton Property Income Ld Chart |
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1 Month Picton Property Income Ld Chart |
Intraday Picton Property Income Ld Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 10/12/2024 | 16:34 | Undervalued, High-yielding Property Co... | 585 |
| 17/5/2013 | 08:29 | Picton Property Income | 6 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2024-12-20 16:48:13 | 63.50 | 14,021 | 8,903.34 | O |
| 2024-12-20 16:48:13 | 63.50 | 98,676 | 62,659.26 | O |
| 2024-12-20 16:37:28 | 63.50 | 786 | 499.11 | O |
| 2024-12-20 16:35:21 | 63.50 | 1,470,413 | 933,712.26 | UT |
| 2024-12-20 16:29:59 | 63.50 | 4,635 | 2,943.23 | AT |
| Top Posts |
|---|
Posted at 21/12/2024 08:20 by Picton Property Income Ld Daily Update 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 64p.Picton Property Income Ld currently has 545,963,156 shares in issue. The market capitalisation of Picton Property Income Ld is £346,686,604. Picton Property Income Ld has a price to earnings ratio (PE ratio) of -72.16. This morning PCTN shares opened at 63.40p |
Posted at 10/12/2024 16:34 by speedsgh Portfolio Update: Office disposal and asset management activity improve income and occupancy - |
Posted at 12/11/2024 15:23 by speedsgh Half Year Results - Commenting on the results, Michael Morris, Chief Executive of Picton, said: "We are pleased with the progress we have made during the period delivering EPRA earnings growth of nearly 12% compared to this time last year. Net assets have increased and we continue to operate with a fully covered dividend. We have improved occupancy and further invested into upgrading our portfolio. With asset disposal proceeds we have also fully repaid floating rate debt, with the remaining facilities now 100% fixed, with a seven-year maturity profile. We are progressing our portfolio repositioning strategy and are also encouraged by our pipeline of asset management activity. Alongside our investment into our portfolio this will drive occupancy, income and capital growth." |
Posted at 09/9/2024 09:32 by speedsgh Disposal Update - BACKGROUND In October 2023, Picton exchanged contracts to sell a partially vacant office building to an experienced student accommodation developer. The transaction was conditional on planning permission, for which an application was submitted in May 2024. UPDATE Picton has been notified that a resolution to grant planning permission has been secured. The development will deliver 706 beds across 488 units. To facilitate the disposal, Picton has secured vacant possession of the building during 2024. Completion of the disposal is expected before the end of the year, following receipt of a satisfactory s106 agreement. This will enable the purchaser to commence the development in early 2025 and complete it ahead of the 2028/9 academic year. The sale price is dependent on the exact planning consent secured and, specifically, on the number of beds secured, subject to a collar and cap. The size of the consented scheme means that Picton will benefit from the maximum top up and, as such, the transaction is accretive relative to the June 2024 NAV. A further update will be provided when completion occurs. |
Posted at 17/6/2024 07:16 by speedsgh Leasing and office repositioning progress - Picton is pleased to provide an update on asset management transactions identified in its Annual Results for the year ended 31 March 2024, announced on 23 May 2024. Lettings improve occupancy and capture reversionary potential The Company has completed lettings with a combined rental of £0.8 million per annum, 4% above the 31 March 2024 estimated rental value (ERV). These include 31,500 sq ft of industrial lettings in Bracknell and Warrington and a 13,000 sq ft office letting at Tower Wharf in Bristol, where an existing occupier will be relocated within the building, taking 140% more floorspace. Following these lettings and the previously announced post year end disposal of Angel Gate, London EC1, the proforma occupancy of the portfolio has increased to 93% (31 March 2024: 91%). Office repositioning progress In respect of identified office assets to be repositioned for alternative use, the Company has reached the following milestones: Charlotte Terrace, London, W14 - the Company has secured planning permission to create six residential units in void office space. Longcross, Cardiff - in accordance with the sale contract, the purchaser has now submitted a planning application to convert the substantially void office building to student accommodation, comprising inter alia 706 units. Upon receipt of satisfactory planning permission, this number of units will trigger an additional overage payment to the Company on completion. As such the sale price is expected to be approximately 20% ahead of the 31 March 2024 valuation. |
Posted at 23/5/2024 14:28 by speedsgh Preliminary Annual Results - |
Posted at 01/5/2024 08:05 by speedsgh Picton Announces 5.7% Increase in Dividend - Picton today announces a 5.7% increase in its dividend, effective May 2024. The interim dividend payment in respect of the financial period from 1 January 2024 to 31 March 2024, will be 0.925 pence per share (1 October 2023 to 31 December 2023: 0.875 pence per share). Picton intends to maintain a fully covered dividend at this increased level, which follows recent portfolio activity and the subsequent repayment of the Company's floating rate debt. The dividend timetable is set out below: Ex-Dividend Date: 9 May 2024 Record Date: 10 May 2024 Pay Date: 31 May 2024 The dividend of 0.925 pence per share will be designated as a property income distribution ('PID'). |
Posted at 17/4/2024 09:34 by nickrl @specto not yet but its share price has dropped more than some of its peers but much better value elsewhere still. PCTN and CREI would make a good combo but as @Sky says both too independent but maybe AEWU or AIRE would be a good fit. |
Posted at 17/4/2024 05:46 by spectoacc A while since I've looked at PCTN, but is it really better than say the near-certain returns at API, the yield at say EBOX, or the better sub-sector at say SHED? |
Posted at 30/1/2024 10:15 by speedsgh Trading Update and Net Asset Value as at 31 December 2023 - Lena Wilson CBE, Chair of Picton, commented: "The real estate market showed continued resilience from an occupational perspective, with all three core sectors showing positive rental growth for the year. With capital values having seen on average a 25% write down since their 2022 peak, the outlook, assuming interest rates have peaked, will become supportive and as such we expect a stabilisation of values in 2024." Michael Morris, Chief Executive of Picton, commented: "This quarter we have agreed some significant rental increases, which have mitigated the impact of outward yield movements, against a backdrop of rising interest rates in 2023. We have maintained a well covered dividend over the period and made good progress on specific asset management initiatives. These will enable us to improve earnings as we reposition our portfolio, to ensure it continues to meet evolving occupier needs. As we start 2024, we are already encouraged by portfolio activity." Financial Highlights • Net assets of £524.3 million (30 September 2023: £537.1 million). • NAV/EPRA NTA per share decreased by -2.5% to 96.0 pence (30 September 2023: 98.5 pence). • Total return for the quarter of -1.6% (30 September 2023: 0.0%). • LTV of 27.7% (30 September 2023: 27.7%). Operational Highlights • Like-for-like portfolio valuation movement of -1.5% over the quarter, with the industrial sector showing most resilience. • Secured a 33% increase against the previous passing rent from four rent reviews in the industrial and retail sectors, with an annual rent of £2.3 million, which was 5% ahead of the September 2023 ERV or the ERV at the time of the review if prior. • Renewed / regeared two leases in the industrial sector, with a combined annual rent of £0.1 million, an increase of 101% against the previous passing rent and in line with the September 2023 ERV. • Completed five lettings in the industrial and office sectors, securing a combined annual rent of £0.5 million, in line with the September 2023 ERV. • Secured valuable residential permitted development rights at Angel Gate EC1, in order to maximise future disposal proceeds. • Stable occupancy at 90% (30 September 2023: 90%). Dividend • Interim dividend of 0.875 pence per share declared in respect of the period 1 October 2023 to 31 December 2023 and to be paid on 29 February 2024 (1 July 2023 to 30 September 2023: 0.875 pence per share). • Annualised dividend equivalent to 3.5 pence per share, delivering a dividend yield of 5.3%, based on the share price at close of business on 26 January 2024. • Dividend cover for the quarter of 108% (30 September 2023: 115%). |
Posted at 08/11/2023 13:10 by speedsgh Minimal share price reaction to the news of a possible all share merger with UKCM...Statement regarding UKCM - The Board of Picton notes the announcement made by UK Commercial Property REIT Limited ("UKCM") and confirms that it is in discussions with the Board of UKCM regarding a possible all-share merger of the two companies on an EPRA NTA for EPRA NTA basis at a common valuation date (the "Possible Merger"). Under the terms of Picton's proposal to UKCM, the combined company would be internally managed. There can be no certainty that an offer will be made. A further announcement will be made in due course. |
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