London, UK, 30 November 2023

Edison issues update on Picton Property Income (PCTN): Resilient H124 with fully covered DPS

In a challenging market environment, Picton Property Income (PCTN) produced a resilient H124 financial performance, supporting fully covered DPS. This was underpinned by continued portfolio outperformance of the MSCI UK Quarterly Property Index, building on a long-term track record of upper quartile performance since inception. Rents continued to grow, asset management initiatives are in place, aimed at capturing reversionary income potential, and borrowings are mostly long term and fixed rate.

The current annualised rate of DPS (3.5p) represents a yield of 4.3%. The H124 P/NAV is c 0.67x.

 
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