Despite challenging market conditions, Picton’s Q121 DPS was well-covered by EPRA earnings and robust portfolio capital values. Combined with low gearing, NAV per share was just 1.3% lower versus Q420 and including DPS paid, the NAV total return was -0.6%. With encouraging rent collection data continuing and the lockdown easing, we have reinstated our estimates and look for the quarterly DPS run-rate to increase in H221.
04 Aug 2020
Picton Property Income - Reinstating forecasts following robust Q121
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Picton Property Income - Reinstating forecasts following robust Q121
Picton Property Income Limited (PCTN:LON) | 62.8 -0.6 (-1.6%) | Mkt Cap: 344.2m
- Published:
04 Aug 2020 -
Author:
Martyn King -
Pages:
7
Despite challenging market conditions, Picton’s Q121 DPS was well-covered by EPRA earnings and robust portfolio capital values. Combined with low gearing, NAV per share was just 1.3% lower versus Q420 and including DPS paid, the NAV total return was -0.6%. With encouraging rent collection data continuing and the lockdown easing, we have reinstated our estimates and look for the quarterly DPS run-rate to increase in H221.