Picton Property Income (GB:PCTN) has released an update.
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Picton Property Income has reported a return to profitability with a £11.5 million profit for the first half of 2024, driven by capital, income, and rental growth. The company has successfully repaid its floating rate debt through strategic property sales and has increased its dividend by 5.7%, maintaining a robust 111% dividend cover. With a strong income-generating ability and a reduced reliance on office properties, Picton offers an attractive opportunity for investors in the UK commercial property market.
For further insights into GB:PCTN stock, check out TipRanks’ Stock Analysis page.
