Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPicton Prop Share News (PCTN)

Share Price Information for Picton Prop (PCTN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 65.50
Bid: 65.70
Ask: 66.10
Change: -0.70 (-1.06%)
Spread: 0.40 (0.609%)
Open: 66.00
High: 66.40
Low: 65.10
Prev. Close: 66.20
PCTN Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Picton Property Outperforms Benchmark But Notes Caution After Brexit

Tue, 28th Jun 2016 09:48

LONDON (Alliance News) - Picton Property Income Ltd on Tuesday said it outperformed its benchmark in its financial year and increased its net assets, but said it was cautious over the short-term outlook in light of last week's vote for the UK to leave the European Union.

The commercial property investor posted a total return of 17.0% for the year ended March 31, outperforming its benchmark, the MSCI IPD Quarterly Benchmark, at 11.3%, but coming in below the 27.4% posted a year earlier. The company's profit after tax was GBP64.8 million, down from the GBP68.9 million reported a year earlier, due to a smaller gain in its investment property valuation.

However, Picton said its EPRA net asset value per share rose 13% to 77 pence, up from 69p a year earlier, and its EPRA earnings per share rose to 3.7p from 3.4p. The company's portfolio occupancy rose to 96% from 95% a year earlier, and Picton noted it has invested a further GBP73.0 million into the property market since March 2015.

The company announced a dividend of 3.30 pence per share for the year, up from the 3.00p per share dividend offered a year earlier.

Picton noted that it was cautious over its short-term outlook in light of last week's UK vote to leave the European Union, which it said is "bound to cause a further period of uncertainty, and more volatility in the markets".

"In line with the wider real estate equities market, our share price performance has lagged the growth in net asset value. With the EU referendum vote last week, the share price discount has widened and currently stands at 15% to the March net asset value. A primary focus of the board is to ensure that this does not disrupt our operational progress," Chairman Nicholas Thompson said.

Shares in Picton were up 6.8% at 61.40 pence on Tuesday.

By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland

Copyright 2016 Alliance News Limited. All Rights Reserved.

More News
6 Nov 2018 15:59

UK Earnings, Trading Statements Calendar - Next 7 Days

Wednesday 7 November Dairy CrestHalf Year ResultsITVQ3 ResultsMarks 8 9

Read more
6 Aug 2018 12:39

Picton Property To Appoint Nomura Europe Director To Board

LONDON (Alliance News) - Picton Property Income Ltd said Monday it will appoint Maria Bentley, a non-executive director of Nomura Europe Holdings, to its board.Bentley will join Picton on 1

Read more
24 May 2018 16:10

UK Dividends Calendar - Next 7 Days

Friday 25 May NewRiver REIT dividend payment dateClarke (T)dividend payment Trust UK

Read more
29 Mar 2018 14:19

Picton Property Sells Chester Office Building For GBP4 Million

LONDON (Alliance News) - Picton Property Income Ltd said Thursday it has exchanged contracts to sell a non-core property located in Chester, England, to a

Read more
8 Mar 2018 17:59

DIRECTOR DEALINGS: Picton Property Income Finance Director Buys Shares

LONDON (Alliance News) - Picton Property Income Ltd said that Finance Director Andrew Dewhirst purchased 4,500 shares at a price of 86.44 pence per share on now

Read more
13 Feb 2017 09:44

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

(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 w

Read more
2 Feb 2017 16:07

UK Dividends Calendar - Next 7 Days

Read more
10 Jan 2017 08:30

Picton secures first new tenant at Farringdon Road

(ShareCast News) - Property investment company Picton announced on Tuesday that it has secured its first new occupier at 50 Farringdon Road in Clerkenwell, EC1. The London-listed firm said it has let 7,800 sq ft of office space to the leading multidisciplinary engineering contractor Volker Wessels.

Read more
15 Nov 2016 09:53

Picton Property Outperforms Benchmark After Repositioning Portfolio

Read more
18 Oct 2016 06:55

Picton Property Income Says Net Gearing Down After Asset Sales

Read more
5 Aug 2016 12:59

Best And Worst Performing London-Listed Funds In July - QuotedData

Read more
21 Jul 2016 11:01

DIRECTOR DEALINGS: Picton Property Chairman Buys 15,000 Shares

Read more
20 Jul 2016 07:59

Picton Property Declares Flat Dividend As Net Asset Value Edges Up

Read more
13 Jul 2016 15:02

UK Earnings, Trading Statements Calendar - Next 7 Days

Read more
12 Jul 2016 07:17

Picton Property Income Sells Central London Office For GBP27.8 Million

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.