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Last 71.75 GBp
Change Today +0.75 / 1.06%
Volume 405.6K
PCTN On Other Exchanges
As of 11:35 AM 06/3/15 All times are local (Market data is delayed by at least 15 minutes).

picton property income ltd (PCTN) Snapshot

72.25 GBp
Previous Close
71.00 GBp
Day High
72.25 GBp
Day Low
71.00 GBp
52 Week High
04/28/15 - 74.25 GBp
52 Week Low
08/13/14 - 60.50 GBp
Market Cap
Average Volume 10 Days
Shares Outstanding
3.08 GBp
Dividend Yield

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picton property income ltd (PCTN) Details

ING UK Real Estate Income Trust Limited engages in investing in real estate properties in the United Kingdom and the Isle of Man. As of December 31, 2008, its portfolio consisted of 51 commercial properties in the office, retail, retail warehouse, industrial, and leisure sectors. The company was incorporated in 2005 and is headquartered in St Peter Port, the Channel Islands.

11 Employees
Last Reported Date: 06/16/14
Founded in 2005

picton property income ltd (PCTN) Top Compensated Officers

No compensation data is available at this time for the top officers at this company.

Executives, Board Directors

picton property income ltd (PCTN) Key Developments

Picton Property Income Limited Declares Interim Dividend for the Period 1 January 2015 to 31 March 2015, Payable on 29 May 2015

The Board of Picton Property Income Limited announced a 10% dividend increase, equivalent to a yearly payment of 3.3 pence per share. The increase reflects an improvement in the underlying income profile of the portfolio as a result of increased occupancy and a reduction in void costs. An interim dividend of 0.825 pence per share is declared in respect of the period 1 January 2015 to 31 March 2015 (1 October 2014 to 31 December 2014: 0.75 pence). The dividend will be paid on 29 May 2015 to shareholders on the register on 15 May 2015. The ex-dividend date is 14 May 2015.

Picton Property Income Limited Announces £26 Million Revolving Credit Facility

Picton Property Income Limited announced that it has entered into a new three-year £26 million revolving credit facility, to provide increased operational and financial flexibility. The facility provides increased optionality when the company’s 7.25% Zero Dividend Preference Shares mature in 2016.  If the RCF is utilised, and assuming current three month LIBOR, it would significantly reduce the overall cost of debt upon the ZDP repayment. In addition the RCF can provide flexibility in respect of future acquisitions, which is particularly relevant following completion of the recent placing programme. By providing the company with immediate access to undrawn but committed facilities, in future the company will be able to move quickly and opportunistically to purchase assets, rather than being reliant on raising new equity capital. The RCF, established with Santander Corporate & Commercial Banking, has a nominal non-utilisation fee of 70 basis points or £0.18 million per annum.  Once drawn, the RCF will incur interest payments of 175 basis points over 3 month LIBOR, which is currently equivalent to 2.3% per annum. If the RCF is used to replace the ZDPs which mature in October 2016, then the Group's interest cost is expected to fall by in excess of £1 million per annum.

Picton Property Income Limited Proposes Increase in Its Dividend for the Period Ended March 31, 2015

Picton Property Income Limited pays quarterly dividends to its shareholders, with the last dividend being 0.75 pence per share in respect of the period October 1, 2014 to December 31, 2014. The board announced its current intention to pay a dividend of 0.825 pence per share for the period January 1, 2015 to March 31, 2015, a 10% increase on the preceding level. It is expected that this dividend will be declared in April 2015 and paid in May 2015. This proposed change to the company's dividend policy will reflect an annualised dividend of 3.3 pence per annum.


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Valuation PCTN Industry Range
Price/Earnings 4.5x
Price/Sales 7.6x
Price/Book 1.1x
Price/Cash Flow 6.1x
TEV/Sales 9.7x

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