Picton Property Income Reduces Share Count with Latest Buyback

The latest announcement is out from Picton Property Income ( (GB:PCTN) ).

Picton Property Income Limited has repurchased 135,000 of its own ordinary shares, which were acquired through the London Stock Exchange at an average price of 78.2 pence per share. This transaction reduces the total number of shares in issue to 521,975,000, impacting the company’s voting rights and potentially influencing shareholder notifications under regulatory guidelines.

The most recent analyst rating on (GB:PCTN) stock is a Hold with a £81.00 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 driven primarily by its strong valuation and stable technical indicators. While the company benefits from strong profitability margins and a stable balance sheet, challenges with revenue consistency and cash flow volatility present risks. The absence of earnings call data and corporate events limits additional insights.

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

More about Picton Property Income

Established in 2005, Picton Property Income Limited is a UK-based real estate investment trust (REIT) listed on the London Stock Exchange. The company manages a £726 million commercial property portfolio across 47 assets, focusing on the industrial sector. Picton aims to deliver superior returns through an occupier-focused approach and is committed to achieving net zero carbon by 2040.

YTD Price Performance: 24.56%

Average Trading Volume: 915,814

Technical Sentiment Signal: Strong Buy

Current Market Cap: £397.5M

See more insights into PCTN stock on TipRanks’ Stock Analysis page.