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
  0.00 0.0% 99.60 337,241 08:47:45
Bid Price Offer Price High Price Low Price Open Price
99.60 100.00 99.60 99.60 99.60
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 43.33 33.80 6.20 16.1 545
Last Trade Time Trade Type Trade Size Trade Price Currency
11:06:03 O 2,495 99.8759 GBX

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26/11/202116:39Undervalued, High-yielding Property Co...497
17/5/201308:29 Picton Property Income6

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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 99.60p.
Picton Property Income Ld has a 4 week average price of 96p and a 12 week average price of 93.10p.
The 1 year high share price is 100.60p while the 1 year low share price is currently 72.10p.
There are currently 547,605,696 shares in issue and the average daily traded volume is 460,492 shares. The market capitalisation of Picton Property Income Ld is £545,415,273.22.
skyship: Rock solid performance from PCTN. Market dn c3.3%; PCTN weakens to just under 98p then rallies to close 0.2p UP!
speedsgh: First posted by SKYSHIP on the CP+ thread... HTTPS://uk.advfn.com/cmn/fbb/thread.php3?id=29245091&from=1190#firstpost SKYSHIP - 23 Nov '21 - 15:33 - 1190 of 1193 Interesting interview with the CEO of PCTN. Last 2mins deals with thoughts of M&A in the sector. HTTPS://www.edisongroup.com/edison-tv/interview-with-michael-morris-ceo-of-picton-property-income/
spectoacc: It'd be share-for-share but at least you should end up with PCTN's smaller discount. Lots of differences at individual asset level - particularly depending on any recent CapEx (something SLI seems to be good at - could they be PCTN's best pick?).
flyer61: Surely they will work with a BOD/management team and aim for an agreed deal. ie those in the trough get a new trough.. PCTN getting a good deal. Topped up AIRE this morning. MCKS seems down and out...but everything has it's price. SREI has some nice assets as does BREI. SLI seems to be in a rut. EPIC is defo in a hot sector...looking forward to 5.5P dividend and a nice revision upwards in the NAV.
spectoacc: Really interesting, missed the M&A comment, thanks. AIRE perhaps too - ahem - unique. Arguably EPIC too, but in an almost hot sector. HCFT another oddity. PCTN def in the driving seat, a small discount to NAV. But what Boards would willingly give up their jobs/expense accounts? Ideally a REIT with a small/no manager holding or influence, but perhaps with a large shareholder willing to exit - as happened at DRUM very recently (CREI got a bargain). If they were going to do it, they may as well go large - agree BREI, SLI, SREI all candidates. BCPT at a fat discount and very large, but another probably too far in the "oddity" category - would expect PE more likely to take it, or one of the other West End REITs. Only takes PCTN to do one deal to narrow the entire sector. Bring it on. (Tho does the comment also suggest they'd look to merge with unlisted/UT funds?).
skyship: Very interesting comments. Surely suggests a bit of M&A en route. What will be their target? PCTN has a MCap of £547m. Possible targets: # AIRE: £59m # BREI: £203m # EPIC: £162m # HCFT: £44m # MCKS: £205m # SLI: £309m # SREI: £250m AIRE & HCFT seem to small MCKS perhaps too office committed (67%) EPIC discount perhaps insufficient at 13.5% That leaves BREI, SLI & SREI
speedsgh: Cracking results. NAV 105p (31/3/21: 97p). Total return of 10.2%. Dividend cover 121%. Dividend now at 97% of pre-pandemic level... Half Year Results - HTTPS://www.investegate.co.uk/picton-property-income-ltd--pctn-/prn/half-year-results/20211110070000PA4CD/ And some teasers... "As we plan for the future, we continue to evaluate our options to grow the business and intend to actively pursue further accretive opportunities."... ... "Since the start of the pandemic, many UK listed commercial property companies have traded at an increased discount to their net asset values. This divergence in real estate equity pricing is more pronounced in some companies than others and we view the situation across the sector as unsustainable in the long-term. Combined with well-publicised issues in unlisted property funds, we believe there is an opportunity for the market to benefit from some consolidation in order to generate the economies of scale that can be achieved through the removal of duplicated management costs, improved liquidity and greater overall efficiency. The combination of our track record, cost base and internalised structure, means we are well placed to create further shareholder value by increasing the size of our portfolio. We will continue to engage to facilitate growth in a way that is attractive for our shareholders and the wider market."
skyship: Interims in the Header: ======================= Picton announces its half year results for the period to 30 September 2021. Strong financial results * 8.6% increase in net assets to £574 million, or 105p per share * Profit of £54.4 million * EPRA earnings of £10.9 million * Total return of 10.2% * Shareholder return of 12.7% * Dividend cover of 121% * Dividend increased by 6.3% over the period * Loan to value ratio of 22%
speedsgh: Dividend Declaration - HTTPS://www.investegate.co.uk/picton-property-income-ltd--pctn-/prn/dividend-declaration/20211022080000P71CA/ Picton today announces an interim dividend payment in respect of the financial period from 1 July 2021 to 30 September 2021, of 0.85 pence per share. The dividend timetable is set out below: Ex-Dividend Date - 4 November 2021 Record Date - 5 November 2021 Pay Date - 30 November 2021 The dividend of 0.85 pence per share will be designated as a property income distribution (‘PID’).
speedsgh: Net Asset Value as at 30 June 2021 - HTTPS://www.investegate.co.uk/picton-property-income-ltd--pctn-/prn/net-asset-value-as-at-30-june-2021/20210728070000P2112/ Financial Highlights ~ Net assets of £545.7 million (31 March 2021: £528.2 million). ~ NAV/EPRA NTA per share increased by 3.2% to 99.9 pence (31 March 2021: 96.8 pence). ~ Total return for the quarter of 4.0% (31 March 2021: 2.2%). ~ LTV of 20.6% (31 March 2021: 20.9%). Operational Highlights ~ Like-for-like portfolio valuation uplift of 2.9% over the quarter. ~ Completed seven lettings, across all sectors, 2% below the March 2021 ERV with a combined annual rent of £0.9 million. ~ Secured an average increase of 21% against the previous passing rent from six rent reviews, all in the industrial sector, with a combined annual rent of £0.5 million which was 15% ahead of the March 2021 ERV. ~ Stable occupancy of 91% (31 March 2021: 91%). Rent Collection ~ 94% of June 2021 rents have been collected or are expected to be received under monthly payment plans. The collection rate is expected to improve further over the coming weeks. ~ Rent collection rate of 95% for the March 2021 quarter. Dividend increased by 6.3% ~ Interim dividend of 0.85 pence per share declared and to be paid on 31 August 2021 (31 March 2021: 0.8 pence per share). ~ Annualised dividend equivalent to 3.4 pence per share, delivering a dividend yield of 3.8%, based on 26 July 2021 share price. ~ Dividend cover for the quarter of 121% (31 March 2021: 122%). Lena Wilson CBE, Chair of Picton, commented: “This is the fourth consecutive quarter that we have delivered growth in net assets. In addition, we have taken the positive step to announce today a further 6.3% dividend increase.” Michael Morris, Chief Executive of Picton, commented: “We’ve had another successful quarter and are encouraged by our pipeline of activity across all sectors. This reflects improving sentiment as lockdown restrictions ease and as market conditions normalise.”
Picton Property Income Ld share price data is direct from the London Stock Exchange
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