Price (GBX)
184.00 3.08%
Open / Last close
- / 184.00
High / Low
184.00 / 184.00
Bid / Offer
178.50 / 183.50
Special Condition: -
Trading Status: Market Close
As at 01.06.20 04:11:29 - All data delayed at least 15 minutes

Palace Capital PLC instruments

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Equity (1)
Code Instrument name Price Change Type Documentation
PCAORD 10P184.00

Price information

What's this?
Open price
Previous close price / date
184.00 / 29 May 2020
52 week range
170.50 / 345.00
YTD return
1 year return

Instrument information

What's this?
Instrument market cap (£m)
Earnings per share
Dividend (yield)
6.60 %
Issue date
21 October 2013
Market identifier code (MIC)
Country of share register
Market segment
Trading service
Date Time Price CurrencyVolume Trade ValueTrade 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.

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First 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.

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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.

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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.

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Palace Capital*

COVID-19 and dividend update

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