PCTN Picton Property Income Limited

Edison Investment Research Limited: Edison issues outlook on Picton Property Income (PCTN)

Edison Investment Research Limited
Edison Investment Research Limited: Edison issues outlook on Picton Property Income (PCTN)

29-Jul-2019 / 15:24 GMT/BST

 

London, UK, 29 July 2019

Edison issues outlook on Picton Property Income (PCTN)

Picton aims to be one of the consistently best-performing diversified UK-focused property companies listed on the LSE. Its property portfolio has established a strong track record of outperformance versus the MSCI Quarterly Property Index over one, three, five and 10 years and, combined with the effective use of moderate gearing and efficient operation, NAV total returns have been strong, including growing, fully-covered dividends. Positive returns continued in Q120 and strong reversionary potential and asset management initiatives are positive indicators for continued returns.

 

Picton offers a current yield of 3.8% and trades at close to its last-reported NAV. Although it has a strong income focus, its dividend yield is lower than the peer average (c 5.6%), reflecting a fully covered position that provides scope to reinvest in the portfolio in ways designed to support occupancy and income growth with the specific goal of enhancing long-term total return.


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About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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