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Palace Capital
(LSE:PCA)
Palace Capital (PCA) vs. iShares MSCI United Kingdom ETF (EWC)
Palace Capital Business Overview & Revenue Model
Palace Capital Financial Statement Overview
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.17M | 13.24M | 19.60M | 32.97M | 49.06M | 17.32M |
| Gross Profit | 1.31M | 5.38M | 9.82M | 15.83M | 18.66M | 15.82M |
| EBITDA | -182.00K | 1.53M | -7.52M | -32.02M | 27.56M | -2.33M |
| Net Income | 2.64M | 1.42M | -9.36M | -35.70M | 24.55M | -5.53M |
Balance Sheet | ||||||
| Total Assets | 52.19M | 77.02M | 110.75M | 201.77M | 288.62M | 301.24M |
| Cash, Cash Equivalents and Short-Term Investments | 4.64M | 22.22M | 19.77M | 5.51M | 28.14M | 9.42M |
| Total Debt | 0.00 | 0.00 | 8.29M | 64.88M | 102.31M | 129.24M |
| Total Liabilities | 2.77M | 4.52M | 12.98M | 73.30M | 111.42M | 143.41M |
| Stockholders Equity | 49.42M | 72.50M | 97.77M | 128.47M | 177.20M | 157.83M |
Cash Flow | ||||||
| Free Cash Flow | 3.44M | 6.88M | -443.00K | 13.07M | 26.14M | -14.68M |
| Operating Cash Flow | -701.00K | 7.05M | 1.10M | 14.45M | 32.68M | 6.54M |
| Investing Cash Flow | 17.74M | 30.46M | 90.67M | 14.03M | 18.04M | -14.84M |
| Financing Cash Flow | -33.69M | -35.06M | -77.52M | -51.12M | -32.00M | 3.82M |
Palace Capital Technical Analysis
Palace Capital Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | £59.97M | 4.85 | 10.22% | 8.23% | 8.48% | 207.85% | |
71 Outperform | £164.70M | 9.16 | 7.37% | 7.43% | -10.95% | -30.09% | |
66 Neutral | £38.53M | 54.66 | 4.33% | 7.14% | -41.22% | ― | |
66 Neutral | £233.79M | 5.97 | 9.81% | 6.64% | ― | ― | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
54 Neutral | £54.03M | 42.46 | 1.28% | 5.02% | -9.28% | ― | |
46 Neutral | £51.77M | -16.58 | -2.97% | 3.94% | 16.08% | 56.94% |
Palace Capital Corporate Events
Palace Capital has reviewed its historic dividend practice and concluded that paying quarterly dividends in excess of EPRA earnings per share effectively returned shareholders’ net asset value, a policy the board now deems misaligned with investors’ long‑term interests. The company also identified that some past dividends were incorrectly paid as Non‑PIDs instead of PIDs, leaving a historic balance of about £2.7m in property rental profits that must be distributed as PIDs.
To address this, the board has opted to stop paying uncovered dividends going forward while declaring a 3.75p per share dividend, designated as a PID, in line with previous payouts and further reducing the outstanding PID balance. Having already distributed all property rental profits for the year to March 2025 and more than its estimated profits for the nine months to December 2025, the move signals a shift toward more sustainable, earnings‑covered dividends and tighter compliance with REIT distribution rules, with tax treatment applied at source unless shareholders qualify for gross payment.
The most recent analyst rating on (GB:PCA) stock is a Hold with a £195.00 price target. To see the full list of analyst forecasts on Palace Capital stock, see the GB:PCA Stock Forecast page.
Palace Capital has exchanged contracts to sell its investment property at Broad Street Plaza in Halifax for £9.9 million, reflecting a 14.9% net initial yield and an 8.7% premium to its September 2025 valuation. Completion is expected in the coming weeks, following an earlier £4.8 million long-leasehold sale at the same scheme to Calderdale and Huddersfield NHS Foundation Trust.
Once the latest Halifax transaction completes, Palace Capital will have fully exited its Halifax holdings, marking a continued reshaping of its regional portfolio. The company has also exchanged and completed on the £0.59 million disposal of unit 3A at St James’ Gate in Newcastle, underscoring an ongoing programme of non-core asset sales and capital realignment within its UK property investments.
The most recent analyst rating on (GB:PCA) stock is a Buy with a £239.00 price target. To see the full list of analyst forecasts on Palace Capital stock, see the GB:PCA Stock Forecast page.
Palace Capital has exchanged contracts to sell its investment property at Broad Street Plaza in Halifax for £9.9 million, reflecting a 14.9% net initial yield and an 8.7% premium to its September 2025 valuation. Completion is expected in the coming weeks, marking a strong exit valuation for the asset and underlining ongoing capital recycling within its regional portfolio.
This latest transaction, alongside the earlier £4.8 million sale of units 5&6b at the same Halifax scheme and the £0.59 million sale of unit 3A at St. James’ Gate in Newcastle, means Palace Capital has now fully exited its Halifax holdings. The disposals highlight a continued strategic streamlining of the portfolio, which may free capital for redeployment and potentially reshape the company’s regional exposure and income profile.
The most recent analyst rating on (GB:PCA) stock is a Buy with a £239.00 price target. To see the full list of analyst forecasts on Palace Capital stock, see the GB:PCA Stock Forecast page.
Palace Capital has confirmed that a previously requisitioned general meeting, linked to shareholder pressure from Lakestreet Capital, has been withdrawn as the company’s managed wind-down nears completion, with over £160 million of assets sold, all bank debt repaid and more than £64 million returned to shareholders, leaving only five investment properties, three of which are expected to be sold in the coming weeks. In tandem, the board has been reshaped with the appointment of Lakestreet co-founder Christian Kappelhoff-Wulff as Non-Executive Chairman and fellow Lakestreet co-founder Valentin Pierburg as Non-Executive Director, replacing outgoing chairman Steven Owen and senior independent director Mark Davies, signalling a transfer of board control to major shareholders as the REIT’s wind-down enters its final phase.
The most recent analyst rating on (GB:PCA) stock is a Buy with a £239.00 price target. To see the full list of analyst forecasts on Palace Capital stock, see the GB:PCA Stock Forecast page.
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.
Palace Capital has acknowledged an announcement from shareholder Lakestreet Capital Partners AG, which has proposed appointing two new directors to the company’s board and removing Executive Chairman Steven Owen as a director. The current board, comprising Owen and Senior Independent Director Mark Davies, has said it will consider Lakestreet’s proposals and issue further updates in due course, signalling a potential governance reshuffle that could influence the company’s strategic direction and leadership stability.
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.