Announcement • Jun 22
Palace Capital Plc(LSE:PCA) dropped from FTSE All-Share Index (GBP) Palace Capital Plc(LSE:PCA) dropped from FTSE All-Share Index (GBP) New Risk • Jun 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Large one-off items impacting financial results. Market cap is less than US$100m (UK£32.4m market cap, or US$43.5m). Announcement • Apr 21
Palace Capital Plc to Report Fiscal Year 2026 Results on Jun 11, 2026 Palace Capital Plc announced that they will report fiscal year 2026 results on Jun 11, 2026 Declared Dividend • Mar 22
Dividend of UK£0.037 announced Dividend of UK£0.037 is the same as last year. Ex-date: 26th March 2026 Payment date: 21st April 2026 Dividend yield will be 7.9%, which is higher than the industry average of 5.3%. Announcement • Mar 20
Palace Capital plc Declares Quarterly Dividend, Payable on 21 April 2026 Palace Capital Plc announced that it has declared a dividend of 3.75 pence per ordinary share which will be paid as a PID. This dividend is in line with previous distributions and reduces the balance of unpaid property rental business profits further. The dividend is payable to shareholders on the register of members at the close of business on the Record Date. The dividend timetable is as follows: Ex-Dividend Date: 26 March 2026; Record Date: 27 March 2026: Payment Date: 21 April 2026. Announcement • Jan 23
Palace Capital PLC Announces Board And Committee Changes, Effective January 23, 2026 Palace Capital PLC announced the appointment of Christian Kappelhoff-Wulff as Non-Executive Chairman of its board of directors and Valentin Pierburg as Non-Executive Director with immediate effect. Mr. Kappelhoff-Wulff is a founder and the Chief Executive Officer of Lakestreet Capital Partners AG and non-executive director of Lakestreet Trading AG, an investment group based in Switzerland. Prior to founding Lakestreet Capital Partners AG, he was a Director of Goldsmith Capital Partners AG working directly for its founder Clemens J. Vedder for over four years. He was a non-executive director and Chair of the Strategic Committee at John Menzies from May 2019 to August 2022 during which time he was responsible for evaluating all significant capital allocation decisions, ensured the company did not complete a rescue rights issue and led to it being sold to a strategic acquiror for a premium exceeding 100% of the prevailing share price. Mr. Pierburg is a Swiss investor and entrepreneur with over 15 years' experience in asset management and corporate finance. Mr. Pierburg is the Chairman of Lakestreet Capital Partners AG and Lakestreet Trading AG, the investment group which he co-founded with Mr. Kappelhoff-Wulff. Mr. Kappelhoff-Wulff and Mr. Pierburg will also join all of the Company's board committees. In light of the appointments of Mr. Kappelhoff-Wulff and Mr. Pierburg, both Steven Owen and Mark Davies have resigned as Directors with immediate effect. Announcement • Jan 06
Lakestreet Capital Demands Change to Board of Directors of Palace Capital On January 5, 2026, Lakestreet Capital Partners AG, requisitioned a general meeting of Palace Capital Plc to remove Chairman Steven Owen due to excessive remuneration and value destruction for shareholders, seeking to appoint their founders as directors to drive change. In addition, Lakestreet is concerned about the high costs associated with the Board and the lack of alignment between Owen's interests and those of shareholders. Upcoming Dividend • Dec 11
Upcoming dividend of UK£0.037 per share Eligible shareholders must have bought the stock before 18 December 2025. Payment date: 30 January 2026. Trailing yield: 7.4%. Within top quartile of British dividend payers (5.7%). Higher than average of industry peers (5.0%). Reported Earnings • Nov 30
First half 2026 earnings released: EPS: UK£0.01 (vs UK£0.028 loss in 1H 2025) First half 2026 results: EPS: UK£0.01 (up from UK£0.028 loss in 1H 2025). Revenue: UK£4.05m (down 50% from 1H 2025). Net income: UK£275.0k (up UK£1.22m from 1H 2025). Profit margin: 6.8% (up from net loss in 1H 2025). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Nov 27
Palace Capital plc Declares First Quarter 2026 Interim Dividend, Payable on January 30, 2026 Palace Capital Plc declared First quarter 2026 interim dividend of 3.75 pence per share payable on 30 January 2026, to shareholders on the register at 19 December 2026. Buy Or Sell Opportunity • Nov 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.4% to UK£2.12. The fair value is estimated to be UK£2.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 40% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Oct 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.4% to UK£2.15. The fair value is estimated to be UK£2.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 40% over the last 3 years. Meanwhile, the company has become profitable. Declared Dividend • Sep 21
Fourth quarter dividend of UK£0.037 announced Dividend of UK£0.037 is the same as last year. Ex-date: 25th September 2025 Payment date: 24th October 2025 Dividend yield will be 6.8%, which is higher than the industry average of 5.3%. Announcement • Sep 18
Palace Capital plc Declares Quarterly Dividend for the Three Months Ended 30 June 2025, Payable on 24 October 2025 Palace Capital Plc announced that it will pay a quarterly dividend, in respect of the three months ended 30 June 2025, of 3.75 pence per ordinary share. This will be paid as a Property Income Distribution ('PID'). The dividend will be paid on 24 October 2025 to shareholders on the register as at 26 September 2025. The ex-dividend date will be 25 September 2025. Buy Or Sell Opportunity • Aug 18
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 1.3% to UK£2.28. The fair value is estimated to be UK£1.88, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 40% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Jul 31
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 4.9% to UK£2.27. The fair value is estimated to be UK£1.88, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 40% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Jul 03
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to UK£2.29. The fair value is estimated to be UK£1.88, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 40% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Jun 17
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 4.7% to UK£2.25. The fair value is estimated to be UK£1.87, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 40% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Jun 06
Full year 2025 earnings released: EPS: UK£0.045 (vs UK£0.24 loss in FY 2024) Full year 2025 results: EPS: UK£0.045 (up from UK£0.24 loss in FY 2024). Revenue: UK£13.2m (down 32% from FY 2024). Net income: UK£1.42m (up UK£10.8m from FY 2024). Profit margin: 11% (up from net loss in FY 2024). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Jun 06
Palace Capital Plc, Annual General Meeting, Jul 09, 2025 Palace Capital Plc, Annual General Meeting, Jul 09, 2025. Location: the offices of cms cameron mckenna, nabarro olswang llp, cannon place, 78 cannon street, london ec4n 6af United Kingdom Announcement • Jun 05
Palace Capital plc Proposes Dividend for the Fourth Quarter Ended March 31, 2025, Payable on July 14, 2025 Palace Capital Plc proposed fourth quarter dividend of 3.75 pence per share. The dividend will be paid as an interim dividend on 14 July 2025 to Shareholders on the register at 13 June 2025. The ex dividend date will be 12 June 2025. The Group paid or declared dividends of 15.0 pence per share in relation to the year ended 31 March 2025 (2024: 15 pence per share). New Risk • Jun 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 273% Cash payout ratio: 223% Earnings have declined by 23% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Market cap is less than US$100m (UK£64.4m market cap, or US$86.8m). Declared Dividend • Mar 13
Dividend of UK£0.037 announced Dividend of UK£0.037 is the same as last year. Ex-date: 20th March 2025 Payment date: 22nd April 2025 Dividend yield will be 6.9%, which is higher than the industry average of 5.3%. Announcement • Mar 12
Palace Capital plc Announces Quarterly Dividend in Respect of the Three Months Ended 31 December 2024, Payable on 22 April 2025 Palace Capital announced that it will pay a quarterly dividend, in respect of the three months ended 31 December 2024, of 3.75 pence per ordinary share. Of this, 1.35 pence per ordinary share will be paid as a Property Income Distribution ('PID') and 2.40 pence per ordinary share will be paid as a Non-Property Income Distribution ('Non-PID'). The dividend will be paid on 22 April 2025 to shareholders on the register as at 21 March 2025. The ex-dividend date will be 20 March 2025. Declared Dividend • Nov 17
Dividend of UK£0.037 announced Dividend of UK£0.037 is the same as last year. Ex-date: 28th November 2024 Payment date: 27th December 2024 Dividend yield will be 7.1%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (223% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Announcement • Nov 14
Palace Capital plc Announces Interim Dividend, Payable on 27 December 2024 Palace Capital Plc paid dividends of 7.5 pence per share (September 2023: 7.5 pence per share) in relation to the period ended 30 September 2024. The Company declares with these results an interim dividend of 3.75 pence per share which will be paid on 27 December 2024. Of this, 1.35 pence per ordinary share will be paid as a Property Income Distribution ('PID') and 2.40 pence per ordinary share will be paid as a Non-Property Income Distribution ('Non-PID'). The record date will be 29 November 2024. Announcement • Nov 12
Palace Capital Plc to Report First Half, 2025 Results on Nov 14, 2024 Palace Capital Plc announced that they will report first half, 2025 results on Nov 14, 2024 Declared Dividend • Sep 22
Fourth quarter dividend of UK£0.037 announced Dividend of UK£0.037 is the same as last year. Ex-date: 26th September 2024 Payment date: 25th October 2024 Dividend yield will be 6.4%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (394% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Announcement • Sep 19
Palace Capital Plc Announces Quarterly Dividend for the Three Months Ended 30 June 2024, Payable on 25 October 2024 Palace Capital Plc announced that it will pay a quarterly dividend, in respect of the three months ended 30 June 2024, of 3.75 pence per ordinary share. Of this, 1.35 pence per ordinary share will be paid as a Property Income Distribution and 2.40 pence per ordinary share will be paid as a Non-Property Income Distribution. The dividend will be paid on 25 October 2024 to shareholders on the register as at 27 September 2024. The ex-dividend date will be 26 September 2024. Upcoming Dividend • Jul 18
Upcoming dividend of UK£0.037 per share Eligible shareholders must have bought the stock before 25 July 2024. Payment date: 23 August 2024. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 6.8%. Within top quartile of British dividend payers (5.5%). Higher than average of industry peers (2.7%). Reported Earnings • Jun 23
Full year 2024 earnings released: UK£0.24 loss per share (vs UK£0.80 loss in FY 2023) Full year 2024 results: UK£0.24 loss per share (improved from UK£0.80 loss in FY 2023). Revenue: UK£19.6m (down 41% from FY 2023). Net loss: UK£9.36m (loss narrowed 74% from FY 2023). Revenue is forecast to decline by 24% p.a. on average during the next 2 years, while revenues in the Real Estate industry in the United Kingdom are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Announcement • Jun 14
Palace Capital Plc (LSE:PCA) announces an Equity Buyback for 8,667,760 shares, for £21.67 million. Palace Capital Plc (LSE:PCA) announces a share repurchase program. Under the offer, the company will repurchase up to 8,667,760 shares, for a total of £21.67 million. The shares will be repurchased at a price of £2.5 per share. The repurchased shares will be cancelled by the company. The offer is subject to shareholder approval to be obtained at the General Meeting to be held on July 9, 2024. The company has fixed July 9, 2024, as the record date for the offer. The offer will expire on July 9, 2024. Reported Earnings • Jun 07
Full year 2024 earnings released: UK£0.24 loss per share (vs UK£0.80 loss in FY 2023) Full year 2024 results: UK£0.24 loss per share (improved from UK£0.80 loss in FY 2023). Revenue: UK£19.6m (down 41% from FY 2023). Net loss: UK£9.36m (loss narrowed 74% from FY 2023). Revenue is expected to fall by 24% p.a. on average during the next 2 years compared to a 1.9% decline forecast for the Real Estate industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Announcement • Jun 05
Palace Capital Plc to Report Fiscal Year 2024 Results on Jun 06, 2024 Palace Capital Plc announced that they will report fiscal year 2024 results on Jun 06, 2024 New Risk • Jun 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 35% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Paying a dividend despite being loss-making. Announcement • Apr 30
An undisclosed buyer agreed to acquire Palace Capital (Manchester) Limited from Palace Capital Plc (LSE:PCA) for £8.8 million. An undisclosed buyer signed a conditionally exchanged contract to acquire Palace Capital (Manchester) Limited from Palace Capital Plc (LSE:PCA) for £8.8 million on April 29, 2024. The transaction also includes the acquisition of Boulton House Manchester, an office building in the center of Manchester, which is the sole asset owned by Palace Capital (Manchester) Limited. The completion of the transaction will be in 12 weeks' time. Declared Dividend • Mar 14
Dividend of UK£0.037 announced Dividend of UK£0.037 is the same as last year. Ex-date: 21st March 2024 Payment date: 19th April 2024 Dividend yield will be 6.7%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (41% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Announcement • Mar 12
Palace Capital plc Announces Quarterly Dividend Declaration, Payable on 19 April 2024 Palace Capital to announce that it will pay a quarterly dividend, in respect of the three months ended 31 December 2023, of 3.75 pence per ordinary share. Of this, 0.5 pence per ordinary share will be paid as a Property Income Distribution and 3.25 pence per ordinary share will be paid as a Non-Property Income Distribution ('Non-PID'). The dividend will be paid on 19 April 2024 to shareholders on the register as at 22 March 2024. The ex-dividend date will be 21 March 2024. Announcement • Feb 08
An unknown buyer acquired three investment properties from Palace Capital Plc (LSE:PCA) for £15.2 million. An unknown buyer acquired three investment properties from Palace Capital Plc (LSE:PCA) for £15.2 million on February 7, 2024. The sales comprised: Bridge Park, East Grinstead for £7.2 million; High Street, Sutton for £3.6 million; and Lendal & Museum Street, York for £4.4 million.
An unknown buyer completed the acquisition of three investment properties from Palace Capital Plc (LSE:PCA) on February 7, 2024. New Risk • Feb 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: UK£76.7m (US$97.2m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 35% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (UK£76.7m market cap, or US$97.2m). Reported Earnings • Nov 20
First half 2024 earnings released: UK£0.004 loss per share (vs UK£0.27 loss in 1H 2023) First half 2024 results: UK£0.004 loss per share (improved from UK£0.27 loss in 1H 2023). Revenue: UK£12.1m (down 16% from 1H 2023). Net loss: UK£173.0k (loss narrowed 99% from 1H 2023). Revenue is expected to fall by 21% p.a. on average during the next 3 years compared to a 3.6% decline forecast for the Real Estate industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Nov 15
Palace Capital Plc Announces the Resignation of Matthew Simpson as CFO, Effective End of November 2023 Palace Capital Plc has announced further progress in the delivery of its strategy to focus on maximising cash returns to shareholders. In light of this, Matthew Simpson, CFO and the Board have agreed that now is the right time for Matthew to step down as a Director and from the Board. The Company's financial circumstances (including cancellation of bank facilities and reduced portfolio size) mean that the CFO role is significantly reduced and therefore no longer requires the level of expertise and skillset that Matthew contributes. Going forward, the financial operations of the Company will be managed by the Financial Controller and Financial Planning Analyst with operational oversight by Steven Owen, as Executive Chairman and by the Audit and Risk Committee on behalf of the Board. After a short handover, Matthew will leave the Company at the end of this month. New Risk • Oct 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: UK£81.9m (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.7x net interest cover). Earnings have declined by 27% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (UK£81.9m market cap, or US$99.5m). Announcement • Sep 14
Palace Capital Plc to Pay Quarterly Dividend in Respect of the Three Months Ended 30 June 2023, Payable on 13 October 2023 Palace Capital Plc announced that it will pay a quarterly dividend, in respect of the three months ended 30 June 2023, of 3.75 pence per ordinary share. The entire dividend will be paid as a Property Income Distribution. The dividend will be paid on 13 October 2023 to shareholders on the register as at 22 September 2023. The ex-dividend date will be 21 September 2023. Announcement • Aug 04
A client of Soor Capital acquired 22 Market Street, an office property in Maidenhead from Palace Capital Plc (LSE:PCA) for £9.6 million. A client of Soor Capital acquired 22 Market Street, an office property in Maidenhead from Palace Capital Plc (LSE:PCA) for £9.6 million on August 2, 2023. Following the sale, Palace Capital will use of some of the proceeds to repay £3.5 million of bank debt.
A client of Soor Capital completed the acquisition of 22 Market Street, an office property in Maidenhead from Palace Capital Plc (LSE:PCA) on August 2, 2023. Announcement • Jul 27
Palace Capital plc Approves Final Dividend Palace Capital Plc announced that at its AGM held on July 26, 2023, approved final dividend of 3.75 pence per share. Announcement • Jul 25
Medicash Health Benefits Limited acquired a five-storey mixed-use property in Liverpool city from Palace Capital Plc (LSE:PCA) for £12 million. Medicash Health Benefits Limited acquired a five-storey mixed-use property in Liverpool city from Palace Capital Plc (LSE:PCA) for £12 million on July 24, 2023. Worthington Owen, HB&O, DSG and Hill Dickinson acted as advisers during the procurement process, while Mason Owen and Hamlins acted for Palace Capital.
Medicash Health Benefits Limited completed the acquisition of a five-storey mixed-use property in Liverpool city from Palace Capital Plc (LSE:PCA) on July 24, 2023. Reported Earnings • Jun 30
Full year 2023 earnings released: UK£0.80 loss per share (vs UK£0.53 profit in FY 2022) Full year 2023 results: UK£0.80 loss per share (down from UK£0.53 profit in FY 2022). Revenue: UK£33.0m (down 33% from FY 2022). Net loss: UK£35.7m (down 245% from profit in FY 2022). Revenue is expected to fall by 18% p.a. on average during the next 2 years compared to a 6.4% decline forecast for the Real Estate industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 29
Upcoming dividend of UK£0.037 per share at 6.4% yield Eligible shareholders must have bought the stock before 06 July 2023. Payment date: 04 August 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 6.4%. Within top quartile of British dividend payers (6.0%). Higher than average of industry peers (4.9%). Announcement • Jun 27
Palace Capital Plc, Annual General Meeting, Jul 26, 2023 Palace Capital Plc, Annual General Meeting, Jul 26, 2023, at 09:00 Coordinated Universal Time. Location: CMS Cameron McKenna Nabarro Olswang LLP, Cannon Place 78 Cannon Street London United Kingdom New Risk • Jun 16
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.5x net interest cover). Earnings have declined by 27% per year over the past 5 years. Minor Risk Paying a dividend despite being loss-making. Announcement • May 06
Clearbell Property Partners IV LP fund managed by Clearbell Capital LLP acquired six industrial properties from Palace Capital Plc (LSE:PCA). Clearbell Property Partners IV LP fund managed by Clearbell Capital LLP acquired six industrial properties from Palace Capital Plc (LSE:PCA) on May 5, 2023.Clearbell Property Partners IV LP fund managed by Clearbell Capital LLP completed the acquisition of six industrial properties from Palace Capital Plc (LSE:PCA) on May 5, 2023. Announcement • Feb 15
An unknown buyer acquired Industrial Property in Plymouth from Palace Capital Plc (LSE:PCA). An unknown buyer acquired Industrial Property in Plymouth from Palace Capital Plc (LSE:PCA) for £3.2 million on February 14, 2023.An unknown buyer completed the acquisition of Industrial Property in Plymouth from Palace Capital Plc (LSE:PCA) on February 14, 2023. Upcoming Dividend • Dec 15
Upcoming dividend of UK£0.037 per share Eligible shareholders must have bought the stock before 22 December 2022. Payment date: 13 January 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 7.1%. Within top quartile of British dividend payers (5.6%). Higher than average of industry peers (4.4%). Price Target Changed • Nov 25
Price target decreased to UK£3.20 Down from UK£3.50, the current price target is provided by 1 analyst. New target price is 52% above last closing price of UK£2.10. Stock is down 19% over the past year. The company is forecast to post earnings per share of UK£0.31 for next year compared to UK£0.53 last year. Announcement • Nov 24
Palace Capital Plc Declares Interim Dividend, Payable on 13 January 2023 Palace Capital Plc declared that an interim dividend will be paid in the amount of 3.75 pence per share on 13 January 2023 as a Property Income Distribution (PID). The record date will be 23 December 2022. Board Change • Nov 16
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). CFO & Executive Director Matthew Simpson is the most experienced director on the board, commencing their role in 2021. Senior Independent Non-Executive Director Mark Davies was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to UK£1.95, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Real Estate industry in the United Kingdom. Total loss to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£2.02 per share. Announcement • Oct 12
Palace Capital Plc to Report Q2, 2023 Results on Nov 24, 2022 Palace Capital Plc announced that they will report Q2, 2023 results on Nov 24, 2022 Announcement • Sep 15
Palace Capital plc Proposes Final Quarterly Dividend in Respect of the Three Months Ended 30 June 2022, Payable on 14 October 2022 Palace Capital announced that it will pay a quarterly dividend, in respect of the three months ended 30 June 2022, of 3.75 pence per ordinary share. The entire dividend will be paid as a Property Income Distribution. The dividend will be paid on 14 October 2022 to shareholders on the register as at 23 September 2022. The ex-dividend date will be 22 September 2022. Announcement • Aug 12
Palace Capital plc Announces Board Changes Palace Capital announced the following change to its Board. Richard Starr, Executive Property Director, has decided that now is the right time to step down from the Board with immediate effect and will leave the Company on 30 September following an orderly handover period. His duties will be allocated between Daniel Davies, Head of Asset Management and Tom Hood, Head of Investment, both of whom will report directly to Steven Owen, Interim Executive Chairman. Announcement • Aug 02
Palace Capital Plc Announces Board Change Palace Capital Plc announced the following change to its Board and committee responsibilities. Mark Davies, ACA has been appointed as an independent Non-Executive Director and joined the Board with immediate effect. A highly experienced FTSE250 executive, Mark has extensive experience of Chairman, CEO and CFO roles in listed companies and private equity. He was a Co-founder Director of New River REIT plc ("New River") and helped take the Company from IPO to the FTSE250 in seven years. He was CFO of New River for over twelve years and, working alongside his role as CFO, was also CEO/Chairman of Hawthorn Leisure Limited ("Hawthorn") for five years. Mark stood down from the Board of New River following the announcement of the sale of Hawthorn in July 2021 but remained as CEO of Hawthorn until its successful sale to Admiral Taverns in August 2021. In addition to his role as a Non-Executive Director, Mark will chair both the Audit Committee and Remuneration Committee and will also be the Senior Independent Director. Steven Owen will chair the Nominations Committee and Matthew Simpson, CFO, will chair the ESG Committee. Announcement • Jul 30
Palace Capital plc Approves Final Dividend Palace Capital Plc at its AGM held on July 29, 2022 approved final dividend of 3.75p per share. Board Change • Jul 20
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Interim Executive Chairman Steven Owen was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jul 19
Palace Capital plc Announces Executive Changes Palace Capital Plc announced that In light of the amended strategy, Mickola Wilson (Senior Independent Director), Kim Taylor-Smith (Non-Executive Director), and Paula Dillon (Non-Executive Director) consider that now is the right time to step down from the Board with immediate effect, and therefore will not be offering themselves for re-election at the Annual General Meeting on 29 July 2022. The Company will look to appoint a new Non-Executive Director in due course. Announcement • Jul 13
Palace Capital Plc (LSE:PCA) commences an Equity Buyback for 4,608,893 shares, representing 10% of its issued share capital, under the authorization approved on July 29, 2021. Palace Capital Plc (LSE:PCA) commences share repurchases on July 11, 2022, under the program mandated by the shareholders in the Annual General Meeting held on July 29, 2021. As per the mandate, the company is authorized to repurchase up to 4,608,893 shares, representing 10% of its issued share capital. The maximum price which may be paid for an ordinary share is an amount equal to 1.05% of the average of the closing middle market price for the ordinary shares taken from the London Stock Exchange Daily Official List for five business days immediately preceding the day on which that share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out at the relevant time. The minimum price which may be paid for an ordinary share is 10 pence. The repurchased shares may be held in treasury and will be subsequently cancelled, sold for cash or used to satisfy share options and share awards under the company’s employee share schemes. The program will expire on the next Annual General Meeting in 2022, or on October 28, 2022, whichever is earlier. As of June 23, 2021, the company had 46,388,515 issued shares and 299,587 treasury shares.
On July 4, 2022, the company announces a share repurchase program. Under the program, the company will repurchase up to 2,300,000 shares, representing 5% of its issued share capital for a total of £7 million. The repurchases will commence today. Upcoming Dividend • Jun 23
Upcoming dividend of UK£0.037 per share Eligible shareholders must have bought the stock before 30 June 2022. Payment date: 05 August 2022. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 5.7%. Within top quartile of British dividend payers (5.2%). Higher than average of industry peers (3.5%). Major Estimate Revision • Jun 21
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast fell from UK£23.0m to UK£17.1m. EPS estimate unchanged from UK£0.30 per share at last update. Real Estate industry in the United Kingdom expected to see average net income decline 7.9% next year. Consensus price target broadly unchanged at UK£3.45. Share price fell 3.3% to UK£2.65 over the past week. Announcement • Jun 15
Palace Capital Plc, Annual General Meeting, Jul 29, 2022 Palace Capital Plc, Annual General Meeting, Jul 29, 2022. Agenda: To pay the dividend; and to discuss other related matters. Reported Earnings • Jun 15
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: UK£0.53 (up from UK£0.12 loss in FY 2021). Revenue: UK£49.1m (up 183% from FY 2021). Net income: UK£24.5m (up UK£30.1m from FY 2021). Profit margin: 50% (up from net loss in FY 2021). Revenue exceeded analyst estimates by 85%. Earnings per share (EPS) also surpassed analyst estimates by 80%. Over the next year, revenue is expected to shrink by 65% compared to a 12% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jun 15
Palace Capital Plc Proposes Final Quarterly Dividend in Respect of the Three Months Ended 31 March 2022, Payable on 5 August 2022 Palace Capital Plc announced that it will pay a quarterly dividend, in respect of the three months ended 31 March 2022, of 3.75 pence per ordinary share. The final dividend will be paid on 5 August 2022, subject to shareholder approval at the Annual General Meeting being held on 29 July 2022, to shareholders on the register as at 1 July 2022. The ex-dividend date will be 30 June 2022. The entire dividend will be paid as a Property Income Distribution. Announcement • Jun 14
Palace Capital plc Announces Board Changes Palace Capital Plc announced that after 12 years of service, Neil Sinclair, CEO and co-founder, will be stepping down from the Board with immediate effect. Steven Owen, currently non-executive Chairman, will assume the role of Interim Executive Chairman with immediate effect. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Paula Dillon was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improved over the past week After last week's 17% share price gain to UK£2.74, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Real Estate industry in the United Kingdom. Total returns to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£2.00 per share. Announcement • Mar 05
An unknown buyer acquired Pelham House from Palace Capital Plc (LSE:PCA) for £1.6 million. An unknown buyer acquired Pelham House from Palace Capital Plc (LSE:PCA) for £1.6 million on March 3, 2022.
An unknown buyer completed the acquisition of Pelham House from Palace Capital Plc (LSE:PCA) on March 3, 2022. Board Change • Jan 22
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Paula Dillon was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jan 18
Palace Capital Plc (LSE:PCA) acquired Office building in Maidenhead for £10.3 million. Palace Capital Plc (LSE:PCA) acquired Office building in Maidenhead for £10.3 million on January 17, 2022. The transaction is financed from existing NatWest revolving credit facility and proceeds from the Company's £30 million disposal strategy. Finn & Co acted as advisor to Palace Capital Plc and Gerald Eve acted for the vendors.
Palace Capital Plc (LSE:PCA) completed the acquisition of Office building in Maidenhead for £10.3 million on January 17, 2022. Board Change • Dec 28
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Paula Dillon was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 21
An unknown buyer exchanged contract to acquire Westminster House in Gerrards Cross, Buckinghamshire from Palace Capital Plc (LSE:PCA) for £1.9 million. An unknown buyer exchanged contract to acquire Westminster House in Gerrards Cross, Buckinghamshire from Palace Capital Plc (LSE:PCA) for £1.9 million on December 20, 2021. The proceeds would be redeployed into properties with stronger growth potential. Announcement • Dec 07
An unknown buyer acquired Fraser House in Staines from Palace Capital Plc (LSE:PCA) for £2 million. An unknown buyer acquired Fraser House in Staines from Palace Capital Plc (LSE:PCA) for £2 million on December 6, 2021.
An unknown buyer completed the acquisition of Fraser House in Staines from Palace Capital Plc (LSE:PCA) on December 6, 2021. Major Estimate Revision • Dec 03
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from UK£0.23 to UK£0.28. Revenue forecast steady at UK£16.2m. Net income forecast to grow 44% next year vs 0.2% growth forecast for Real Estate industry in the United Kingdom. Consensus price target of UK£3.25 unchanged from last update. Share price rose 7.9% to UK£2.80 over the past week. Upcoming Dividend • Dec 02
Upcoming dividend of UK£0.033 per share Eligible shareholders must have bought the stock before 09 December 2021. Payment date: 31 December 2021. Trailing yield: 4.7%. Within top quartile of British dividend payers (4.1%). Higher than average of industry peers (2.3%). Announcement • Nov 30
An unknown buyer acquired 24 Blackwater Way from Palace Capital Plc (LSE:PCA) for £2.4 million. An unknown buyer acquired 24 Blackwater Way from Palace Capital Plc (LSE:PCA) for £2.4 million on November 29, 2021.
An unknown buyer completed the acquisition of 24 Blackwater Way from Palace Capital Plc (LSE:PCA) on November 29, 2021. Reported Earnings • Nov 18
First half 2022 earnings released: EPS UK£0.17 (vs UK£0.15 loss in 1H 2021) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2022 results: Revenue: UK£27.8m (up 223% from 1H 2021). Net income: UK£8.05m (up UK£15.2m from 1H 2021). Profit margin: 29% (up from net loss in 1H 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 16
Upcoming dividend of UK£0.03 per share Eligible shareholders must have bought the stock before 23 September 2021. Payment date: 15 October 2021. Trailing yield: 4.8%. Within top quartile of British dividend payers (3.9%). Higher than average of industry peers (2.0%). Announcement • Sep 08
An unknown buyer acquired 9,600 sq ft industrial unit in Rustington, West Sussex from Palace Capital Plc (LSE:PCA) for £0.86 million. An unknown buyer acquired 9,600 sq ft industrial unit in Rustington, West Sussex from Palace Capital Plc (LSE:PCA) for £0.86 million on September 6, 2021. Flude Property Consultants acted for Palace Capital on the sale.
An unknown buyer completed the acquisition of 9,600 sq ft industrial unit in Rustington, West Sussex from Palace Capital Plc (LSE:PCA) on September 6, 2021. Recent Insider Transactions Derivative • Aug 22
CEO, MD & Executive Director exercised options and sold UK£162k worth of stock On the 19th of August, Ronald Sinclair exercised options to acquire 63k shares at no cost and sold these for an average price of UK£2.56 per share. This trade did not impact their existing holding. For the year to March 2021, Ronald's total compensation was 71% salary and 29% non-salary. Since December 2020, Ronald has owned 260.72k shares directly. Company insiders have collectively sold UK£224k more than they bought, via options and on-market transactions in the last 12 months. 