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Picton Property Income (PCTN)
30/06/2026
Results analysis from Kepler Trust Intelligence
For the purposes of the Takeover Code, Kepler Partners is deemed to be connected with Picton Property Income REIT and Schroder Real Estate Investment Trust as a provider of paid-for research.
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This is a non-independent marketing communication commissioned by Picton Property Income Trust. The report has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the dealing ahead of the dissemination of investment research.
Picton Property Income (PCTN) has released its results for the year ending 31/03/2026, recording a NAV total return of 6.1% and profits of 5.0 pence per share (2025: 6.9p). PCTN's property total return was 5.9% (2025: 7.3%) for the year, compared to 5.4% (2025: 6.3%) for the MSCI UK Quarterly Property Index. This marks the 13th consecutive year PCTN has outperformed the property index. Net assets were £522m (2025: £533m) at the year end. The NAV per share increased 2% to 102p (2025: 100p) and dividends for the year totalled 3.8p (2025: 3.7p), a 2.7% increase.
At the beginning of 2026, PCTN's board initiated a strategic review to explore options to maximise shareholder value. On 12/05/2026, a proposed offer from LondonMetric (LMP) and Schroder Real Estate (SREI) was published. At the time of writing this remains in process but has not become a formal offer. As a result, the buyback programme has been suspended.
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