Last checked at 24 Jun 2021 07:01
Edison Investment Research Limited Picton Property Income (PCTN): Positive outcome in a challenging year 24-Jun-2021 / 07:00 GMT/BST
London, UK, 24 June 2021
Picton Property Income (PCTN): Positive outcome in a challenging year FY21 results underlined the resilience of Picton Property Income's business model and strategy. Its property portfolio showed further strong outperformance, driven by sector positioning and asset management, and with moderate gearing providing a benefit, EPRA NAV total return was a positive 6.6%. Strong reversionary potential and financial flexibility for accretive acquisitions are positive indicators for future progress.
Based on the current annualised rate of quarterly DPS (3.2p) the yield is 3.7%. This compares favourably with risk-free alternatives and we expect further DPS growth in FY22 and FY23. The discount to end-FY21 EPRA NTA is 8%, above the five-year average of 3%. Click here to view the full report or here to sign up to receive research as it is published.
All reports published by Edison are available to download free of charge from its website www.edisongroup.com About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Martyn King +44 (0)20 3077 5745 financials@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn www.linkedin.com/company/edison-group-/ Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv Dissemination of a CORPORATE NEWS, transmitted by EQS Group.The issuer is solely responsible for the content of this announcement. |
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