PCTN Stock Overview
Picton, established in 2005, is a UK REIT.
Picton Property Income Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||UK£0.85|
|52 Week High||UK£1.07|
|52 Week Low||UK£0.85|
|1 Month Change||-12.59%|
|3 Month Change||-13.74%|
|1 Year Change||-3.83%|
|3 Year Change||-12.41%|
|5 Year Change||2.28%|
|Change since IPO||-15.86%|
Recent News & Updates
|PCTN||GB REITs||GB Market|
Return vs Industry: PCTN exceeded the UK REITs industry which returned -10.7% over the past year.
Return vs Market: PCTN exceeded the UK Market which returned -9.7% over the past year.
|PCTN Average Weekly Movement||3.3%|
|REITs Industry Average Movement||3.5%|
|Market Average Movement||5.4%|
|10% most volatile stocks in GB Market||10.6%|
|10% least volatile stocks in GB Market||2.8%|
Stable Share Price: PCTN is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: PCTN's weekly volatility (3%) has been stable over the past year.
About the Company
Picton, established in 2005, is a UK REIT. It owns and actively manages a £665 million diversified UK commercial property portfolio, invested across 47 assets and with around 350 occupiers (as at 31 March 2020). Through an occupier focused, opportunity led approach to asset management, Picton aims to be one of the consistently best performing diversified UK focused property companies listed on the main market of the London Stock Exchange.
Picton Property Income Fundamentals Summary
|PCTN fundamental statistics|
Is PCTN overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|PCTN income statement (TTM)|
|Cost of Revenue||UK£11.10m|
Last Reported Earnings
Mar 31, 2022
Next Earnings Date
|Earnings per share (EPS)||0.27|
|Net Profit Margin||315.81%|
How did PCTN perform over the long term?See historical performance and comparison
4.1%Current Dividend Yield
Is PCTN undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 5/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for PCTN?
Other financial metrics that can be useful for relative valuation.
|What is PCTN's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does PCTN's PE Ratio compare to its peers?
|PCTN PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
CREI Custodian REIT
BCPT BMO Commercial Property Trust
API abrdn Property Income Trust
SREI Schroder Real Estate Investment Trust
PCTN Picton Property Income
Price-To-Earnings vs Peers: PCTN is good value based on its Price-To-Earnings Ratio (3.2x) compared to the peer average (3.8x).
Price to Earnings Ratio vs Industry
How does PCTN's PE Ratio compare vs other companies in the GB REITs Industry?
Price-To-Earnings vs Industry: PCTN is good value based on its Price-To-Earnings Ratio (3.2x) compared to the UK REITs industry average (7.6x)
Price to Earnings Ratio vs Fair Ratio
What is PCTN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
|Current PE Ratio||3.2x|
|Fair PE Ratio||7.1x|
Price-To-Earnings vs Fair Ratio: PCTN is good value based on its Price-To-Earnings Ratio (3.2x) compared to the estimated Fair Price-To-Earnings Ratio (7.1x).
Share Price vs Fair Value
What is the Fair Price of PCTN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: PCTN (£0.85) is trading below our estimate of fair value (£1.08)
Significantly Below Fair Value: PCTN is trading below fair value by more than 20%.
Price to Earnings Growth Ratio
PEG Ratio: PCTN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
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How is Picton Property Income forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Future Growth Score0/6
Future Growth Score 0/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PCTN's earnings are forecast to decline over the next 3 years (-40.5% per year).
Earnings vs Market: PCTN's earnings are forecast to decline over the next 3 years (-40.5% per year).
High Growth Earnings: PCTN's earnings are forecast to decline over the next 3 years.
Revenue vs Market: PCTN's revenue is expected to decline over the next 3 years (-4.5% per year).
High Growth Revenue: PCTN's revenue is forecast to decline over the next 3 years (-4.5% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if PCTN's Return on Equity is forecast to be high in 3 years time
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How has Picton Property Income performed over the past 5 years?
Past Performance Score5/6
Past Performance Score 5/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PCTN has a large one-off gain of £125.8M impacting its March 31 2022 financial results.
Growing Profit Margin: PCTN's current net profit margins are higher than last year (78%).
Past Earnings Growth Analysis
Earnings Trend: PCTN's earnings have grown by 12.5% per year over the past 5 years.
Accelerating Growth: PCTN's earnings growth over the past year (334.9%) exceeds its 5-year average (12.5% per year).
Earnings vs Industry: PCTN earnings growth over the past year (334.9%) exceeded the REITs industry 113.5%.
Return on Equity
High ROE: PCTN's Return on Equity (22.4%) is considered high.
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How is Picton Property Income's financial position?
Financial Health Score4/6
Financial Health Score 4/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: PCTN's short term assets (£61.4M) exceed its short term liabilities (£20.3M).
Long Term Liabilities: PCTN's short term assets (£61.4M) do not cover its long term liabilities (£218.4M).
Debt to Equity History and Analysis
Debt Level: PCTN's net debt to equity ratio (27.1%) is considered satisfactory.
Reducing Debt: PCTN's debt to equity ratio has reduced from 45.5% to 33% over the past 5 years.
Debt Coverage: PCTN's debt is not well covered by operating cash flow (9.2%).
Interest Coverage: PCTN's interest payments on its debt are well covered by EBIT (3.5x coverage).
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What is Picton Property Income current dividend yield, its reliability and sustainability?
Dividend Score 3/6
Cash Flow Coverage
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PCTN's dividend (4.1%) is higher than the bottom 25% of dividend payers in the UK market (1.89%).
High Dividend: PCTN's dividend (4.1%) is low compared to the top 25% of dividend payers in the UK market (5.29%).
Stability and Growth of Payments
Stable Dividend: PCTN's dividend payments have been volatile in the past 10 years.
Growing Dividend: PCTN's dividend payments have fallen over the past 10 years.
Earnings Payout to Shareholders
Earnings Coverage: At its current payout ratio (92.1%), PCTN's payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: At its current cash payout ratio (95.4%), PCTN's dividend payments are covered by cash flows.
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How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Michael Morris (49 yo)
Mr. Michael Morris serves as Executive Director at Picton Property Income Ltd. since October 1, 2018 and serves as its Chief Executive since 2020. Mr. Morris serves as the Chief Executive of Picton Capital...
CEO Compensation Analysis
Compensation vs Market: Michael's total compensation ($USD1.01M) is about average for companies of similar size in the UK market ($USD1.06M).
Compensation vs Earnings: Michael's compensation has been consistent with company performance over the past year.
Experienced Board: PCTN's board of directors are considered experienced (3.8 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Picton Property Income Limited's employee growth, exchange listings and data sources
- Name: Picton Property Income Limited
- Ticker: PCTN
- Exchange: LSE
- Founded: 2005
- Industry: Diversified REITs
- Sector: Real Estate
- Implied Market Cap: UK£465.969m
- Shares outstanding: 545.63m
- Website: https://www.picton.co.uk
Number of Employees
- Picton Property Income Limited
- Trafalgar Court
- Les Banques
- Saint Peter Port
- GY1 3QL
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/07/04 00:00|
|End of Day Share Price||2022/07/04 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.