Picton Property Income Reduces Share Supply with Recent Buyback

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

Picton Property Income Limited announced the repurchase and cancellation of 158,887 of its ordinary shares, traded on the London Stock Exchange, at an average price of 80.1 pence per share. This transaction reduces the total number of shares in issue to 520,603,110, impacting shareholder voting rights and potentially enhancing shareholder value by decreasing the share supply.

The most recent analyst rating on (GB:PCTN) stock is a Hold with a £84.00 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 score is driven by strong technical indicators and attractive valuation metrics. However, financial performance is mixed due to revenue and cash flow volatility, which slightly dampens the overall outlook.

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

More about Picton Property Income

Picton Property Income Limited is a UK-based company established in 2005, listed on the London Stock Exchange. It manages a £726 million commercial property portfolio across 47 assets with around 350 occupiers. The company focuses on being a top-performing diversified UK REIT, with a strategic emphasis on the industrial sector and a commitment to achieving net zero carbon by 2040.

YTD Price Performance: 31.39%

Average Trading Volume: 881,890

Technical Sentiment Signal: Buy

Current Market Cap: £418.4M

See more data about PCTN stock on TipRanks’ Stock Analysis page.