Palace Capital reported adjusted results ahead of our forecast and the FY22 final EPRA NAV was 5% higher than we expected at 390p prompting an increase in our Target Price to 350p. Steven Owen has been appointed Interim Executive Chairman. Management expects to complete the strategic review by the AGM in July. The portfolio transformation and robust financial performance delivered by Palace Capital during FY22 underpinned a 26% increase in dividend, saw LTV fall to 28% from 42% delivered a 14.8% ....
