Edison Investment Research - Picton Property Income Limited (PCTN) Picton Property Income - Resilient H124 with fully covered DPS

Report

Edison Investment Research

Martyn King

Picton Property Income - 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.

30/11/2023 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.

See profile

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.

See profile

Analysts

Martyn King

Other Reports on these Companies

Edison Investment Research

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.

December 19, 2024 December 19, 2024 1 EN

EQS Group AG

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

Edison Investment Research

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.

September 9, 2024 September 9, 2024 1 EN

OPAP - Winning strategy

OPAP enjoys a leading and growing position in the Greek and Cypriot gaming markets. The majority of its revenue, from land-based activities, is supported by exclusive prepaid licences. To complement these activities, OPAP has developed a strong presence in the regulated online markets, where, by definition, there is greater competition. Management’s strategy is to grow its customer interactions in both the online and offline worlds, through a combination of rejuvenating its older games and developing new games that appeal to broader demographics, while maintaining its leading corporate and soc...

3h / 58m 3h / 58m 1 EN

Pedro Fonseca

Pedro Fonseca

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

Patria Private Equity Trust’s (PPET’s) distributions from its primary fund investments have increased recently, supported by a revival in private equity (PE) deal activity. Its portfolio valuations continue to be validated by uplifts upon exits, which in the nine months to end-June 2024 averaged 23.3% (in line with the long-term average of 25%). Valuations and liquidity were also assisted by the successful £180m secondary sale in October 2024 at a limited 5% discount to carrying value. While PPET’s 12-month NAV total return (TR) to end-October 2024 (based largely on end-June 2024 valuations) w...

7h / 54m 7h / 54m 1 EN

Kate Heseltine

Kate Heseltine

MoneyHero - Emphasis on driving margin

MoneyHero’s Q324 results show revenues up 6% y-o-y (9M24 +18%) and a smaller adjusted EBITDA loss, as expected. The important element of the narrative, though, is the emphasis on driving revenues in higher-margin product areas and increasing operating efficiency within the business. Group CFO Hao Qian has resigned to return to China, with the group FD, Danny Leung, stepping up on an interim basis. The market opportunity remains substantial, and with customer data now on a unified platform, MoneyHero is well placed to deliver improved outcomes for both providers and end consumers. Our forecasts...

8h / 56m 8h / 56m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Picton Property Income - Resilient H124 with fully covered DPS

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

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe