Edison Investment Research - Picton Property Income Limited (PCTN) Picton Property Income - Increased DPS driving positive returns

Report

Edison Investment Research

Martyn King

Picton Property Income - Increased DPS driving positive returns

Picton Property Income’s Q125 trading update shows DPS, increased by 6% from Q423, fully covered by EPRA earnings. Our unchanged forecasts show continuing earnings growth, driven by positive leasing momentum and asset management initiatives underway. Net asset value has stabilised, supported by improving sentiment in the property market and the prospect of interest rate reductions.

01/08/2024 1 EN

Underlying

Picton Property Income Limited

Picton Property Income is an internally managed property investment company which invests in commercial property throughout the U.K. As of Mar 31 2017, Co.'s property portfolio consisted of 53 assets and was invested in the industrial, office, retail, retail warehouse and leisure sectors.

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GB00B0LCW208 London Stock Exchange United Kingdom

Provider

Edison Investment Research

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, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Martyn King

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Picton Property Income - Delivering on key initiatives

Since reporting H125 results, Picton has agreed the sale of an office asset designated for alternative use, completed the small but accretive acquisition of an industrial unit, and undertaken several leasing and other asset management initiatives. Together, these demonstrate continuing progress with the active measures being taken to improve occupancy, grow income and dividends, and realise value embedded in the portfolio.

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Edison issues report on Picton Property Income (PCTN)

Edison Investment Research Limited Edison issues report on Picton Property Income (PCTN) 09-Sep-2024 / 11:53 GMT/BST The issuer is solely responsible for the content of this announcement. London, UK, 9 September 2024 Edison issues report on Picton Property Income (PCTN) Edison issues report on Picton Property Income (LSE: PCTN) Picton Property Income’s previously agreed sale of a vacated office building in Cardiff, to a purpose-built student accommodation developer, has taken a further step forward. A resolution to grant planning permission has been secured, paving the ...

September 9, 2024 September 9, 2024 1 EN

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Picton Property Income - Office repurposing progress

Picton Property Income’s previously agreed sale of a vacated office building in Cardiff, to a purpose-built student accommodation developer, has taken a further step forward. A resolution to grant planning permission has been secured, paving the way for sale completion before the end of the year. The scale of the planned development indicates a sale price at the top end of the agreed range, with a positive impact on NAV and earnings.

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Picton Property Income - Increased DPS driving positive returns

Picton Property Income - Delivering on key initiatives

Edison issues report on Picton Property Income (PCTN)

Picton Property Income - Office repurposing progress

OPAP - Winning strategy

Patria Private Equity Trust - High liquidity and solid long-term track record

MoneyHero - Emphasis on driving margin

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