3rd Feb 2020 14:59
(Alliance News) - Picton Property Income Ltd on Monday reported an uplift in its net asset value over the quarter to the end of 2019.
The company, which invests in commercial property across the UK, reported NAV per share of 95.2 pence as at December 31, up 1.7% versus 93.6p reported at the end of September 2019.
Picton declared a dividend of 0.875p per share, unchanged from the prior quarter.
During the three months to the end of 2019, Picton said it saw a 1.4% increase in like-for-like valuation of its property portfolio, driven primarily by industrial and regional office sector gains.
"The asset management activity over the quarter, driven by a number of key leasing and re-gear transactions, has delivered further growth," said Chief Executive Michael Morris.
Picton shares were trading 0.2% lower in London on Monday at 101.80p each.
By Evelina Grecenko; [email protected]
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