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Picton Property Income ( (GB:PCTN) ) has issued an update.
Picton Property Income Limited reported a 2.3% increase in its Net Asset Value (NAV) for the quarter ending December 2024, driven by portfolio growth and proactive asset management, resulting in improved rental growth and a strong balance sheet. The company plans to reduce its office exposure to below 25% by completing asset disposals before the year-end, aiming to enhance portfolio occupancy to 95%. Despite a 35% discount in the share price compared to NAV, Picton’s dividend remains fully covered, with an interim dividend declared and total borrowings reduced under long-term fixed rate facilities, reflecting a stable financial position.
More about Picton Property Income
Picton Property Income Limited, established in 2005, is a UK-based Real Estate Investment Trust (REIT) listed on the London Stock Exchange. The company actively manages a diversified commercial property portfolio worth £737 million, focusing on delivering upper quartile performance and income returns. Picton’s strategic focus is on capturing income and capital growth, with a significant emphasis on the industrial sector. The company is committed to achieving net zero carbon by 2040.
YTD Price Performance: -3.16%
Average Trading Volume: 450
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $412M
For a thorough assessment of PCTN stock, go to TipRanks’ Stock Analysis page.
