Picton Property Income (GB:PCTN)
LSE:PCTN
Top Page
Picton Property Income
(LSE:PCTN)
Select Model
Select Model
Rating:60Neutral
Price Target:
88.00 p
â–²(13.26% Upside)
Action:ReiteratedDate:12/07/25
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.
Positive Factors
Strong balance sheet
A high equity ratio (69.8%) and conservative debt-to-equity (0.40) indicate durable financial resilience. This capital structure reduces refinancing risk, preserves borrowing capacity for opportunistic acquisitions or leasing work, and supports stable distributions through economic cycles.
Negative Factors
Revenue volatility
Marked revenue inconsistency, including a significant drop in 2023, weakens long-term predictability of contracted rental income. Persistent top-line volatility complicates cash flow forecasting, makes dividend guidance less reliable and can force reactive asset sales or rent concessions.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet
A high equity ratio (69.8%) and conservative debt-to-equity (0.40) indicate durable financial resilience. This capital structure reduces refinancing risk, preserves borrowing capacity for opportunistic acquisitions or leasing work, and supports stable distributions through economic cycles.
Read all positive factors
Picton Property Income (PCTN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£393.24M
Dividend Yield5.15%
Average Volume (3M)969.76K
Price to Earnings (P/E)6.8
Beta (1Y)0.83
Revenue Growth-3.98%
EPS Growth412.08%
CountryUK
Employees12
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)0.02
Shares Outstanding513,827,000
10 Day Avg. Volume780,894
30 Day Avg. Volume969,764
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)0.73
Price to Sales (P/S)7.22
P/FCF Ratio15.66
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.04
Revenue Forecast (FY)£37.20M
Picton Property Income Business Overview & Revenue Model
Company Description
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, opport...
How the Company Makes Money
Picton Property Income generates revenue primarily through rental income from its portfolio of commercial properties, which includes leases with a variety of tenants across different sectors. This rental income forms the backbone of the company's ...
Picton Property Income Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
60
Neutral
Cash Flow
50
Neutral
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 52.65M | 54.02M | 54.69M | -67.73M | 169.09M | 49.91M |
| Gross Profit | 37.13M | 37.68M | 37.89M | -83.46M | 157.83M | 40.02M |
| EBITDA | 30.70M | 30.72M | 30.82M | 0.00 | 0.00 | 28.07M |
| Net Income | 40.95M | 37.32M | -4.79M | -98.28M | 146.99M | 33.80M |
Balance Sheet | ||||||
| Total Assets | 756.90M | 764.64M | 773.92M | 792.56M | 895.81M | 712.47M |
| Cash, Cash Equivalents and Short-Term Investments | 53.59M | 35.32M | 19.77M | 20.05M | 38.55M | 23.36M |
| Total Debt | 211.06M | 211.21M | 228.82M | 225.46M | 219.54M | 165.47M |
| Total Liabilities | 229.33M | 231.26M | 249.44M | 244.93M | 238.68M | 184.27M |
| Stockholders Equity | 527.57M | 533.38M | 524.48M | 547.62M | 657.13M | 528.20M |
Cash Flow | ||||||
| Free Cash Flow | 22.22M | 24.91M | 20.20M | 23.02M | 20.01M | 18.30M |
| Operating Cash Flow | 22.23M | 24.92M | 20.21M | 23.03M | 20.01M | 18.57M |
| Investing Cash Flow | 44.27M | 37.69M | -4.46M | -26.76M | -33.83M | -1.30M |
| Financing Cash Flow | -41.14M | -47.07M | -16.02M | -14.59M | 29.01M | -17.48M |
Picton Property Income Technical Analysis
Negative
77.70
Price Trends
83.26
Negative
78.84
Negative
77.25
Positive
Market Momentum
-1.65
Positive
28.92
Positive
18.40
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:PCTN, the sentiment is Negative. The current price of 77.7 is below the 20-day moving average (MA) of 82.14, below the 50-day MA of 83.26, and above the 200-day MA of 77.25, indicating a neutral trend. The MACD of -1.65 indicates Positive momentum. The RSI at 28.92 is Positive, neither overbought nor oversold. The STOCH value of 18.40 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:PCTN.
Picton Property Income Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | £57.96M | 4.85 | 10.22% | 8.23% | 8.48% | 207.85% | |
72 Outperform | £375.52M | 3.34 | 11.57% | 7.17% | 1.60% | 211.81% | |
71 Outperform | £158.99M | 9.16 | 7.37% | 7.43% | -10.95% | -30.09% | |
67 Neutral | £236.48M | 5.97 | 9.81% | 6.64% | ― | ― | |
66 Neutral | £38.22M | 54.66 | 4.33% | 7.14% | -41.22% | ― | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
60 Neutral | £393.24M | 6.81 | 7.51% | 5.15% | -3.98% | 412.08% |
* Real Estate Sector Average
GB:PCTN
Picton Property Income
77.30
9.02
13.21%
GB:AEWU
AEW UK REIT
100.20
4.69
4.91%
GB:CREI
Custodian REIT
78.00
9.16
13.30%
GB:PCA
Palace Capital
187.00
-16.25
-8.00%
GB:SREI
Schroder Real Estate ate ate Investment
47.55
-1.03
-2.11%
GB:AIRE
Alternative Income REIT Plc
74.50
9.63
14.85%
Picton Property Income Corporate Events
Business Operations and StrategyM&A Transactions
Picton Confirms LondonMetric Interest Amid Strategic Review and Sale Process
Neutral
Feb 11, 2026
Picton Property Income, a diversified UK REIT listed in multiple EPRA indices, manages a £699 million commercial property portfolio spanning 46 assets and roughly 300 occupiers, with a strategic weighting toward industrial real estate. The gr...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Picton Schedules Investor Briefing as Takeover Offer Period Continues
Neutral
Feb 6, 2026
Picton Property Income Limited will host an online investor presentation via the Investor Meet Company platform on 12 February 2026, following the release of its latest trading statement and net asset value update, with the session open to both ex...
Regulatory Filings and Compliance
Picton Confirms 513.8 Million Voting Shares in Capital Disclosure
Neutral
Jan 30, 2026
Picton Property Income Limited has confirmed that as of 30 January 2026 its issued share capital stands at 513,827,021 ordinary shares, all of which carry voting rights, with no shares held in treasury. The disclosure, made in line with FCA transp...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Picton Posts Sixth Straight NAV Gain as Strategic Review Puts Spotlight on Discounted Shares
Positive
Jan 29, 2026
Picton Property Income reported its sixth consecutive quarterly increase in net asset value per share, with NAV/EPRA NTA up 0.9% to 102.4p and a total return of 1.8% for the three months to 31 December 2025, underpinned by a 0.6% like-for-like por...
Business Operations and StrategyDividends
Picton Property Income Holds Interim Dividend at 0.95p Per Share
Positive
Jan 29, 2026
Picton Property Income has declared an interim dividend of 0.95 pence per share for the period from 1 October to 31 December 2025, maintaining its previous payout level and designating the distribution as a property income distribution. The decisi...
Business Operations and StrategyM&A Transactions
Picton Property Income Launches Strategic Review and Formal Sale Process to Address Valuation Discount
Negative
Jan 13, 2026
Picton Property Income has launched a strategic review and formal sale process to explore options to maximise shareholder value, amid a persistent discount of its share price to its net asset values and a challenging equity-raising environment for...
Business Operations and StrategyM&A Transactions
Picton Property Income Launches Strategic Review and Formal Sale Process to Address Valuation Discount
Negative
Jan 13, 2026
Picton Property Income has launched a strategic review and formal sale process to explore options to maximise shareholder value, amid a persistent discount of its share price to its net asset values and a challenging equity-raising environment for...
Business Operations and StrategyStock Buyback
Picton Property Income Cancels 150,000 Shares in Latest Buyback
Positive
Jan 12, 2026
Picton Property Income Limited has executed a share buyback, purchasing 150,000 of its ordinary shares on the London Stock Exchange for cancellation at an average price of 77.6 pence per share, within a range of 77.2 to 78.0 pence. Following this ...
Stock Buyback
Picton Property Income Buys Back 150,000 Shares on LSE
Neutral
Jan 9, 2026
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 is...
Stock BuybackRegulatory Filings and Compliance
Picton Property Income Cancels 122,979 Shares After Buyback on LSE
Neutral
Jan 8, 2026
Picton Property Income Limited has repurchased and cancelled 122,979 of its ordinary shares on the London Stock Exchange at an average price of 76.9 pence per share, as part of its ongoing share buyback activity. Following this transaction, the co...
Stock Buyback
Picton Property Income Buys Back and Cancels 250,000 Shares
Neutral
Jan 7, 2026
Picton Property Income Limited has repurchased and cancelled 250,000 of its ordinary shares on the London Stock Exchange, at an average price of 76.8 pence per share, as part of its ongoing capital management. Following this transaction, the compa...
Stock Buyback
Picton Property Income Cancels 250,000 Shares in Latest Buyback Move
Neutral
Jan 6, 2026
Picton Property Income Limited has undertaken a share buyback, purchasing 250,000 of its ordinary shares on the London Stock Exchange for cancellation at an average price of 75.1 pence per share. Following this transaction, the company now has 514...
Stock BuybackRegulatory Filings and Compliance
Picton Property Income Cancels 250,000 Shares in Latest Buyback
Neutral
Jan 5, 2026
Picton Property Income has executed a share buyback, purchasing and cancelling 250,000 ordinary shares on the London Stock Exchange at an average price of 74.1 pence per share. Following the transaction, the company now has 514,750,000 ordinary sh...
Regulatory Filings and Compliance
Picton Confirms 515 Million Voting Shares in Latest Capital Update
Neutral
Jan 2, 2026
Picton Property Income Limited has confirmed that, as of 31 December 2025, its issued share capital comprises 515 million ordinary shares, all of which carry voting rights, with no shares held in treasury. The disclosure, made in line with the FCA...
Business Operations and StrategyStock Buyback
Picton Property Income Cancels 333,154 Ordinary Shares in Financial Move
Neutral
Dec 17, 2025
Picton Property Income Limited has repurchased and canceled 333,154 of its Ordinary Shares at an average price of 73.6 pence per share on 17 December 2025. Following this transaction, the company’s total Ordinary Shares in issue stand at 515...
Stock Buyback
Picton Property Income Reduces Share Count with Latest Buyback
Positive
Dec 16, 2025
Picton Property Income Limited has repurchased and canceled 290,000 of its Ordinary Shares, trading on the London Stock Exchange, at an average price of 72.9 pence per share. This transaction reduces the total number of shares in issue to 515,333,...
Business Operations and StrategyStock Buyback
Picton Property Income Executes Share Buyback
Neutral
Dec 15, 2025
Picton Property Income Limited has repurchased and canceled 200,000 of its ordinary shares, as part of its ongoing strategy to manage its share capital. This transaction, conducted on the London Stock Exchange, leaves the company with 515,623,154 ...
Business Operations and Strategy
Picton Property Income Announces Change of Registered Office Address
Neutral
Dec 15, 2025
Picton Property Income Limited has announced a change in its registered office address to Ground Floor, Plaza House, Admiral Park, St Peter Port, Guernsey, effective December 15, 2025. This change is part of the company’s ongoing operational...
Business Operations and StrategyStock Buyback
Picton Property Income Limited Announces Share Repurchase
Neutral
Dec 12, 2025
Picton Property Income Limited has repurchased 200,000 of its ordinary shares for cancellation, as part of its ongoing management strategy. This transaction reduces the total number of shares in circulation to 515,823,154, impacting shareholder vo...
Business Operations and StrategyStock Buyback
Picton Property Income Optimizes Capital Structure with Share Repurchase
Positive
Dec 11, 2025
Picton Property Income Limited has repurchased 200,000 of its ordinary shares for cancellation, reducing its total shares in issue to 516,023,154. This strategic move is part of Picton’s ongoing efforts to optimize its capital structure and ...
Business Operations and StrategyStock Buyback
Picton Property Income Enhances Shareholder Value with Share Buyback
Positive
Dec 10, 2025
Picton Property Income Limited has repurchased and cancelled 200,000 of its Ordinary Shares at an average price of 73.0 pence per share, reducing its total shares in issue to 516,223,154. This transaction is part of Picton’s strategy to mana...
Stock Buyback
Picton Property Income Reduces Share Count with Recent Buyback
Neutral
Dec 9, 2025
Picton Property Income Limited announced the purchase and cancellation of 200,000 of its own ordinary shares, traded on the London Stock Exchange at an average price of 73.6 pence per share. This transaction reduces the total number of shares in i...
Stock Buyback
Picton Property Income Reduces Share Count with Recent Buyback
Neutral
Dec 8, 2025
Picton Property Income Limited has repurchased and canceled 200,000 of its ordinary shares, trading on the London Stock Exchange, at an average price of 75.2 pence per share. This transaction reduces the total number of shares in issue to 516,623,...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.