Picton Property Income Buys Back 150,000 Shares on LSE

Picton Property Income ( (GB:PCTN) ) has issued an update.

Picton Property Income Limited has bought back and cancelled 150,000 of its ordinary shares on the London Stock Exchange at an average price of 77.6 pence per share. Following this transaction, the company now has 513,977,021 ordinary shares in issue, which constitutes the total voting rights and will be used by investors to assess any disclosure obligations under UK transparency rules.

The most recent analyst rating on (GB:PCTN) stock is a Hold with a £80.00 price target. To see the full list of analyst forecasts on Picton Property Income stock, see the GB:PCTN Stock Forecast page.

Spark’s Take on GB:PCTN Stock

According to Spark, TipRanks’ AI Analyst, GB:PCTN is a Neutral.

Picton Property Income’s overall stock score is primarily supported by its strong valuation metrics, including a low P/E ratio and high dividend yield, which suggest potential undervaluation. However, financial performance is mixed, with strong profitability offset by revenue and cash flow volatility. Technical indicators are neutral, providing no clear directional bias.

To see Spark’s full report on GB:PCTN stock, click here.

More about Picton Property Income

Picton Property Income Limited is a UK real estate investment trust listed on the main market of the London Stock Exchange and included in several EPRA indices such as the FTSE EPRA Nareit Global Index. Established in 2005, it owns and actively manages a £695 million diversified UK commercial property portfolio of 46 assets with around 300 occupiers, currently weighted towards the industrial sector, and aims to deliver upper-quartile performance and higher income returns while targeting net zero carbon by 2040.

Average Trading Volume: 969,887

Technical Sentiment Signal: Strong Buy

Current Market Cap: £393.1M

For detailed information about PCTN stock, go to TipRanks’ Stock Analysis page.