Picton Property Income Ltd (PCTN)

Sector:

Real Estate

Index:

FTSE Small Cap

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90.00p
   
  • Change Today:
      0.20p
  • 52 Week High: 93.40p
  • 52 Week Low: 81.50p
  • Currency: UK Pounds
  • Shares Issued: 540.05m
  • Volume: 999,564
  • Market Cap: £486.05m
  • Beta: 0.00

Picton sells non-core Oldham property for 80pc net profit

By Josh White

Date: Monday 13 Feb 2017

LONDON (ShareCast) - (ShareCast News) - Income focused property investment company Picton Property Income announced the disposal of a non-core property in Drury Lane, Oldham, for £2.2m on Monday, completing its business plan for the asset.
The London-listed firm said the warehouse was purchased in April 2010 for £0.4m with an annual rent of £74,000, as part of the acquisition of Rugby REIT.

During Picton's ownership, it secured planning consent to change the use from industrial to leisure, completed a full refurbishment, acquired adjacent land for car parking and subsequently let the transformed asset to The Gym Group until 2031 at an annual rent of £150,000.

The sale price reflected a net initial yield of 6.4% and a 10% premium to the 31 December 2016 external valuation.

Net of the £0.8 million of costs incurred since acquisition, the asset was sold at an 80% profit.

"This is a good example of how we used our knowledge of the local market and asset management expertise to double the income and capture a significant increase in value," said Picton Capital chief executive Michael Morris.

"The proceeds can be used, together with existing funds, to opportunistically acquire assets in larger lot sizes that we believe will generate attractive future returns."

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PCTN Market Data

Currency UK Pounds
Share Price 90.00p
Change Today 0.20p
% Change 0.22 %
52 Week High 93.40p
52 Week Low 81.50p
Volume 999,564
Shares Issued 540.05m
Market Cap £486.05m
Beta 0.00

PCTN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
30.11% above the market average30.11% above the market average30.11% above the market average30.11% above the market average30.11% above the market average
18.03% below the sector average18.03% below the sector average18.03% below the sector average18.03% below the sector average18.03% below the sector average
Price Trend
50.31% above the market average50.31% above the market average50.31% above the market average50.31% above the market average50.31% above the market average
58.73% above the sector average58.73% above the sector average58.73% above the sector average58.73% above the sector average58.73% above the sector average
Income
69.48% above the market average69.48% above the market average69.48% above the market average69.48% above the market average69.48% above the market average
56.52% above the sector average56.52% above the sector average56.52% above the sector average56.52% above the sector average56.52% above the sector average
Growth
29.96% below the market average29.96% below the market average29.96% below the market average29.96% below the market average29.96% below the market average
3.23% below the sector average3.23% below the sector average3.23% below the sector average3.23% below the sector average3.23% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PCTN Dividends

  Latest Previous
  Q1 Q4
Ex-Div 09-Aug-18 10-May-18
Paid 31-Aug-18 31-May-18
Amount 0.88p 0.88p

Trades for 21-Sep-2018

Time Volume / Share Price
16:45 53,520 @ 90.00p
16:43 41,688 @ 90.00p
16:37 81,645 @ 90.00p
16:35 529,459 @ 90.00p
16:22 6,282 @ 90.00p

PCTN Key Personnel

Chair Nicholas Thompson

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