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.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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