Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Palace Capital ( (GB:PCA) ) just unveiled an update.
Palace Capital has acknowledged receipt of a requisition notice from shareholder Lakestreet Capital Partners seeking to oust Executive Chairman Steven Owen and appoint two new directors, and will convene a general meeting for investors to vote on the proposals. In a detailed rebuttal of Lakestreet’s public criticism of Owen’s remuneration and board costs, the company defends its pay structures as independently set and strongly supported by shareholders at recent AGMs, highlights substantial progress on asset disposals, debt repayment and cost-cutting under its managed wind-down strategy, and stresses that recent governance and financial decisions, including extending its financial year, are aimed at reducing administrative costs rather than entrenching current leadership.
The most recent analyst rating on (GB:PCA) stock is a Hold with a £226.00 price target. To see the full list of analyst forecasts on Palace Capital stock, see the GB:PCA Stock Forecast page.
Spark’s Take on GB:PCA Stock
According to Spark, TipRanks’ AI Analyst, GB:PCA is a Neutral.
The score is primarily supported by improved financial stability (debt eliminated) and strong recent cash generation, plus shareholder-return-focused corporate actions. Offsetting factors include multi-year revenue decline and volatility in results, with only modest technical momentum and a valuation that is helped by the yield but limited by a mid-to-high P/E.
To see Spark’s full report on GB:PCA stock, click here.
More about Palace Capital
Palace Capital is a UK-listed real estate investment company that has been executing a managed wind-down strategy since July 2022, focused on selling its regional commercial property portfolio, repaying debt and returning capital to shareholders. The group has disposed of more than £160 million of assets, cleared all bank debt and significantly reduced its operational footprint, cutting headcount, closing its head office and lowering administrative expenses as it nears the final stages of its portfolio run-off.
Average Trading Volume: 42,736
Technical Sentiment Signal: Sell
Current Market Cap: £39.94M
For detailed information about PCA stock, go to TipRanks’ Stock Analysis page.