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Picton Property Income ( (GB:PCTN) ) has shared an announcement.
Picton Property Income Limited has repurchased 100,000 of its own ordinary shares for cancellation, trading on the London Stock Exchange at an average price of 80.3 pence per share. This transaction reduces the total number of shares in issue to 526,089,205, potentially impacting shareholder voting rights and interest notifications under the Financial Conduct Authority’s rules.
The most recent analyst rating on (GB:PCTN) stock is a Buy with a £90.00 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 strong valuation and effective corporate actions, such as strategic share buybacks, are major positives. These strengths are balanced by mixed financial performance and the need for stable revenue and cash flow management. Technical indicators suggest a bullish trend, reinforcing a positive outlook.
To see Spark’s full report on GB:PCTN stock, click here.
More about Picton Property Income
Picton Property Income Limited, established in 2005, is a UK-based real estate investment trust (REIT) listed on the London Stock Exchange. The company manages a diverse commercial property portfolio valued at £723 million, comprising 47 assets with around 350 occupiers. Picton focuses on delivering superior performance and income returns, with a strategic emphasis on the industrial sector and a commitment to achieving net zero carbon by 2040.
Average Trading Volume: 1,316,204
Technical Sentiment Signal: Buy
Current Market Cap: £421.3M
See more data about PCTN stock on TipRanks’ Stock Analysis page.