HARDMAN & CO RESEARCH Hardman & Co Research: Palace Capital (PCA): Portfolio and trading update

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16/05/2019 16:15

Hardman & Co Research
Hardman & Co Research: Palace Capital (PCA): Portfolio and trading update

16-May-2019 / 15:15 GMT/BST


Hardman & Co Research: Portfolio and trading update

Palace Capital's portfolio and trading update of 2 May showed underlying values up year- on-year. A lease event, resulting in a profit and cash upgrade, was announced on 7 May. This showed a cash premium being agreed to be paid by the tenant. The loan-to-value (LTV) stood at 33%. Palace Capital 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." Construction has recently commenced for the Hudson Quarter, York, mixed residential-commercial development inside the city walls. This is one of several factors underpinning significant medium-term expansion in capacity to pay growing dividends.

Please click here for the full report:

https://www.hardmanandco.com/research/corporate-research/portfolio-and-trading-update/

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Mike Foster

+44 20 7194 7633


mf@hardmanandco.com
 

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About Hardman & Co: For the past 21 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

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The issuer is solely responsible for the content of this announcement.


End of Announcement - EQS News Service

812547  16-May-2019 

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