Palace Capital PLC
Price information
Instrument information
Last 5 trades
| Date | Time | Price | Currency | Volume | Trade Value | Trade type | Trade flag | MIC |
|---|---|---|---|---|---|---|---|---|
| 29.05.20 | 16:39:35 | 181.00 | GBX | 16,000 | 28,960.00 | Off-Book | LRGS | XLON |
| 29.05.20 | 16:35:13 | 184.00 | GBX | 6 | 11.04 | UT | - | XLON |
| 29.05.20 | 16:29:00 | 184.00 | GBX | 1 | 1.84 | AT | ALGO | XLON |
| 29.05.20 | 15:26:46 | 181.00 | GBX | 16,514 | 29,890.34 | Off-Book | LRGS | XLON |
| 29.05.20 | 14:21:42 | 183.00 | GBX | 271 | 495.93 | Off-Book | - | XLON |
Equity Research
from Palace Capital PLC
The Monthly May 2020
There has been much comment on the fact that equity markets in the US and Europe have been shrinking for some years now, certainly in terms of the number of quoted companies, if not in total market capitalisation (MCap). This paper has been written with the assistance of the Quoted Companies Alliance (QCA) and focuses on the evidence for such in the London market and, in particular, that for smaller and midcap companies. It assesses that evidence and considers explanations. Finally, we ask why it matters, and assuming that it does, what practical steps can be taken to reverse the trend. Successful public markets have been a key part of the United Kingdom’s economic success for generations, even centuries, and we should not allow them to wither on the vine.
View reportFirst quarter of 2020
The covid-19 pandemic has had a devastating effect on the share price of property companies, with 31% wiped off the value of their total market capitalisation during the first quarter of 2020.
View report
Palace Capital - Adjusting to COVID-19
Palace Capital (PCA) has provided an update on the impact of COVID-19 and its response to the crisis, including a focus on rent collections and maintaining a healthy liquidity position until the full impact becomes clearer. Payment of the previously declared Q320 DPS has been cancelled but progress continues at the flagship Hudson Quarter development, albeit at a slower pace.
View report
Trading update and COVID-related dividend cut
FY20 results are due to be reported in June. PCA’s 2 April trading update stated FY20 results to be broadly in line with previous estimates. Loan-to-value (LTV) at 30 September 2019 stood at 34%; we expect this to increase to 37% as at March yearend, allowing for the drawdown at the York Hudson Quarter (HQ) development. With robust finances, PCA can weather COVID-related storms, including passing this quarter's dividend. A rent shortfall in FY21 looks likely. None of the diverse positive characteristics of the portfolio are negated. Indeed, we see scope for EPRA earnings to recover to the 19p per share historical dividend level once the HQ development has completed and funds have been redeployed into income-accretive acquisitions.
View report