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from Edison Investment Research Limited (LON:KEFI)

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.

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1827213  31-Jan-2024 

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