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Edison issues update on Picton Property Income (PCTN): Capturing rent potential in Q3

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0 0 31.01.24
Edison issues update on Picton Property Income (PCTN): Capturing rent potential in Q3
 

Edison Investment Research Limited
Edison issues update on Picton Property Income (PCTN): Capturing rent potential in Q3

31-Jan-2024 / 10:58 GMT/BST
The issuer is solely responsible for the content of this announcement.

 

London, UK, 31 January 2024

 

Edison issues update on Picton Property Income (PCTN): Capturing rent potential in Q3

Picton Property Income’s (PCTN’s) Q324 trading update details a range of positive leasing events that provided underpinning to Income, reflected in its well-covered DPS. Together with progress on specific asset management initiatives this mitigated the impact of market-wide outward yield movements on NAV.

The current annualised run rate of DPS (3.5p), which we expect to be fully covered, represents a prospective yield of 5.2%. We forecast DPS growth, fully covered, in FY25 and FY26. Meanwhile the shares trade at a 30% discount to Q324 NAV.

Click here to view the full report.

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 company in-market 17 years ago, Edison has more than 100 employees and covers every economic sector. Headquartered in London, Edison also has offices in New York, Sydney and Wellington.

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 5700  [email protected]

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.
End of Announcement - EQS News Service

1827213  31-Jan-2024 

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Picton Property Income Ltd Stock

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