Palace Capital (PCA)

Sector:

Real Estate

Index:

FTSE Small Cap

233.00p
   
  • Change Today:
      10.00p
  • 52 Week High: 245.00p
  • 52 Week Low: 202.00p
  • Currency: UK Pounds
  • Shares Issued: 37.56m
  • Volume: 3
  • Market Cap: £87.52m
  • Beta: 0.02

Palace Capital makes 'substantial progress' in first year on main market

By Iain Gilbert

Date: Friday 03 May 2019

LONDON (ShareCast) - (Sharecast News) - Property investment outfit Palace Capital told investors on Thursday that it had made "substantial progress" in its first full year on the London Stock Exchange's main market, leaving it "very positive" about its prospects.
Throughout the year, Palace disposed of 50 residential units to Barnet Council for £18.2m and acquired 1 Derby Square, Liverpool for £14m in December, producing £1m in annual income with "considerable reversionary potential".

Palace also undertook 37 lease and rent reviews in the year and, as a result, now generates a total of £3.4m from rent per annum - a significant uplift on its previous passing rents of £800,000.

The AIM-listed firm also inked a building contract and secured a £26.5m facility with Barclays for its Hudson Quarter development in York.

Looking forward, Palace intends to use its a "strong cash position" along with unutilised debt facilities to fund its refurbishment and development projects and provide it with capacity for future acquisitions.

Chief executive Neil Sinclair said: "Palace Capital is making substantial progress across the portfolio, notwithstanding the uncertain environment.

"During the year we took the strategic decision to hold back on letting some of our vacant space where we see the opportunity to drive value and income potential through refurbishment or redevelopment. While this means that our adjusted profits are likely to be slightly below expectations for the financial year ended 31 March 2019, it will enable us to further improve our portfolio of high quality, income producing properties that are let to first class tenants."

As of 1250 BST, Palace Capital shares were down 3.15% at 276.02p.

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Palace Capital Market Data

Currency UK Pounds
Share Price 233.00p
Change Today 10.00p
% Change 4.48 %
52 Week High 245.00p
52 Week Low 202.00p
Volume 3
Shares Issued 37.56m
Market Cap £87.52m
Beta 0.02

Palace Capital Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
63.18% above the market average63.18% above the market average63.18% above the market average63.18% above the market average63.18% above the market average
11.76% above the sector average11.76% above the sector average11.76% above the sector average11.76% above the sector average11.76% above the sector average
Price Trend
4.59% below the market average4.59% below the market average4.59% below the market average4.59% below the market average4.59% below the market average
27.78% below the sector average27.78% below the sector average27.78% below the sector average27.78% below the sector average27.78% below the sector average
Income
18.19% above the market average18.19% above the market average18.19% above the market average18.19% above the market average18.19% above the market average
20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average
Growth
73.35% below the market average73.35% below the market average73.35% below the market average73.35% below the market average73.35% below the market average
75.76% below the sector average75.76% below the sector average75.76% below the sector average75.76% below the sector average75.76% below the sector average

Palace Capital Dividends

  Latest Previous
  3rd Interim 2nd Interim
Ex-Div 20-Mar-25 28-Nov-24
Paid 22-Apr-25 27-Dec-24
Amount 3.75p 3.75p

Trades for 30-May-2025

Time Volume / Share Price
08:09 3 @ 233.00p

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