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
  0.30 0.34% 89.80 800,394 16:35:08
Bid Price Offer Price High Price Low Price Open Price
89.40 90.00 91.00 89.30 89.60
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 45.66 22.38 4.10 21.9 492
Last Trade Time Trade Type Trade Size Trade Price Currency
17:06:58 O 1,557 89.804 GBX

Picton Property Income Ld (PCTN) Latest News (1)

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Date Time Title Posts
27/5/202112:01Undervalued, High-yielding Property Co...478
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
2021-06-15 16:06:5889.801,5571,398.25O
2021-06-15 15:35:0889.80215,004193,073.59UT
2021-06-15 15:29:3690.001,3601,224.00AT
2021-06-15 15:29:3189.50722646.19AT
2021-06-15 15:29:3189.901,9151,721.59AT
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Picton Property Income Ld (PCTN) Top Chat Posts

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 89.50p.
Picton Property Income Ld has a 4 week average price of 79.60p and a 12 week average price of 79.60p.
The 1 year high share price is 92p while the 1 year low share price is currently 59.10p.
There are currently 547,605,696 shares in issue and the average daily traded volume is 788,656 shares. The market capitalisation of Picton Property Income Ld is £491,749,915.01.
speedsgh: Highly creditable results in view of the unprecedented challenges that the economy and Picton's occupiers have faced during the financial year to 31/3/2021... Preliminary Annual Results - HTTPS://
speedsgh: Dividend Declaration - HTTPS:// Picton today announces an interim dividend payment in respect of the financial period from 1 January 2021 to 31 March 2021, of 0.8 pence per share. This level is unchanged from the preceding quarter. The dividend timetable is set out below: Ex-Dividend Date - 13 May 2021 Record Date - 14 May 2021 Pay Date - 28 May 2021 The dividend of 0.8 pence per share will be designated as a property income distribution (‘PID’).
skyship: PCTN looking seriously over-valued at 91.5p on a mere 4.7% discount and just a 3.52% yield. Bear in mind that their expensive debt at 4.2%pa (fixed for 9yrs) places severe restrictions on dividend growth. They should have rescheduled that debt long ago - bitten the bullet in the same way SREI did just over a year ago.
nickrl: NAV update today and another one that has shown an increase this time by 3.0% to 95.5 pence (30/9/20 92.7 pence). Also qtrly div is up from 0.7 to 08p lifting yield to just shy of 4% on todays share price and 122% covered so scope for a bit more. Another one with weasel words over rent collection saying "87% of December 2020 rents have been collected or are expected to be received under monthly payment plans" So how much have they got in the bank and what still to come would be more transparent but each propco seems to have its format over this should be a minimum information requirement. Good asset mgt news and they've unloaded a big retail asset.
speedsgh: Pretty impressive results in view of the circumstances. They managed to turn a profit, EPRA NAV unchanged at 93p since Mar 20 and dividend cover of 129% excluding additional income (admittedly after a dividend reduction)... Half Year Results - HTTPS:// Financial Highlights ~ EPRA earnings of £10.1 million ~ Profit of £3.7 million ~ Net assets of £506 million, or 93p per share ~ Total return of 0.7% ~ Dividend cover of 148% ~ Loan to value ratio of 22% ~ £50 million available through new undrawn revolving credit facility Operational Highlights ~ Total property return of 1.5%, outperforming the MSCI UK Quarterly Property Index of -1.6% ~ Occupancy increased to 90% ~ Nine lettings completed, securing £1.2 million per annum, 2.8% ahead of March 2020 ERV ~ 16 lease renewals / regears completed, retaining £2.3 million per annum, 14.3% above March 2020 ERV ~ Five rent reviews completed, securing an uplift of £0.3 million per annum, 16.3% above March 2020 ERV ~ Additional income of £1.3 million received from asset management initiatives ~ Retail and Leisure exposure reduced to 12% from 18% of the total property portfolio Rent Collection ~ Received 90% of the March quarter’s rent, expected to rise to 96% under agreed deferred payment plans ~ Received 90% of the June quarter’s rent, expected to rise to 93% under agreed deferred payment plans ~ To date 93% of the September quarter’s rent has been collected or is expected to be received under monthly payment plans Subsequent Events ~ Dividend increased by 12% to 2.8p per share effective November 2020 ~ Completed a further £0.4 million per annum of lettings, 2.4% above September 2020 ERV, including the first letting at Stanford Building, WC2 ~ Good leasing pipeline with approximately £0.7 million per annum of transactions agreed, subject to contract, across industrial, office and retail sectors Picton Chairman, Nicholas Thompson, commented: “Picton has delivered a profit in what has undoubtedly been a challenging period. Cognisant of this performance and the overall strength of the balance sheet, we felt it was appropriate to take the first step in restoring the dividend to pre-Covid levels by announcing a 12% increase, effective November 2020.” Michael Morris, Chief Executive of Picton, commented: “We have delivered robust progress at a portfolio level and rent collection in excess of 90%. As well as improving occupancy, generating additional income to offset Covid-19 impacts and completing some key asset management projects, we have also increased our weightings to the better performing industrial and office sectors.” -------------------------------- Our EPRA earnings for the period are similar to last year. Despite lower than usual rent collection we have been able to offset this with additional one-off income from active management initiatives, whilst reducing both property and administrative costs relative to this period last year. -------------------------------- Dividend cover for the six months was 148%, or 129% excluding additional income. Recognising our rent collection performance and high dividend cover we have decided to increase the dividend by 12% to 0.7 pence per quarter, effective from the November payment which is a first step in restoring the dividend to its previous level.
spectoacc: Thanks @nickrl, didn't realise the Covent Gdn one vacant. There's a few have nudged divi back up (or reinstated) but I take issue with PCTN trumpeting it as a "12% increase" :)
spectoacc: As always, spoilt for choice, but PCTN reminds me a lot of UCKM. Large (half a billion quid of property), low LTV (half what some have), but poxy yield. A 12% increase of squat is still squat :) 4.5% yield now I reckon? Claim very low retail exposure but helped by reclassifying one asset from High St Retail to West End Office. Either canny property management, or canny classification. 49% industrial, ought to be on a better yield IMO. I like PCTN - and UKCM - both seem conservative and "cheap" in any normal scenario. But neither stack up that well against everything else on offer atm.
nickrl: What troubles me about AEWU is they've disposed of there biggest asset - yes at good price but they've lost the income stream so unless they tap into the cash they received can't see them raising the divi. I let that issue blight me at the time for dipping in so gone up too imo now. However, what im seeing in many of these is an up trend for a few weeks following good news then a slow drift back so will keep an eye on it.
nickrl: Can't fault there transparency on rental collection. They set the standard template others should adopt. As Sky says a tad too pricey still but given there relatively stable share price compared to others maybe that the price I have to accept to get some income without risking capital erosion.
speedsgh: Net Asset Value as at 31 December 2019 - HTTPS:// NAV growth and strengthened balance sheet through debt reduction * Net assets increased to GBP519.1 million (30 September 2019: GBP510.7 million). * NAV/EPRA NAV per share rose 1.7% to 95.2 pence (30 September 2019: 93.6 pence). * Total return for the quarter of 2.6% (30 September 2019: 1.6%). * LTV reduced to 22.4% (30 September 2019: 24.5%). Dividend declared * Dividend of 0.875 pence per share declared and to be paid on 28 February 2020 (30 September 2019: 0.875 pence per share). * Annualised dividend equivalent to 3.5 pence per share, delivering a dividend yield of 3.5%, based on 30 January 2020 share price. * Dividend cover for the quarter of 114% (30 September 2019: 114%). Further valuation uplift driven by asset management * Like-for-like increase in property portfolio valuation for the quarter of 1.4% (30 September 2019: 0.7%) driven primarily by industrial and regional office sector gains. * GBP3.3 million invested in over 10 refurbishment and repositioning projects. * Secured an average increase of 11% against the September ERV from nine lease events (renewals, regears and one rent review), with a combined annual rent of GBP3.0 million. * Completed nine lettings on average 3% ahead of the September ERV, with a combined annual rent of GBP0.5 million. * Agreed to pre-lease Shipton Way, Rushden, to Whistl UK Limited at an annual rent of GBP1.6 million who will become the Company's largest single occupier from October 2020, when the existing occupier vacates. * Completed the disposal of an office building in Croydon for GBP18.2 million. * Stable occupancy of 88% (30 September 2019: 88%). Nick Thompson, Chairman of Picton, commented: "We have delivered another positive uplift in net assets, whilst at the same time reducing borrowings and increasing the amount available under our revolving credit facilities to capitalise on any emerging opportunities." Michael Morris, Chief Executive of Picton, commented: "The asset management activity over the quarter, driven by a number of key leasing and regear transactions, has delivered further growth. Our primary focus is our refurbishment programme and corresponding leasing activity to drive both income and value."
Picton Property Income Ld share price data is direct from the London Stock Exchange
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