piw
22 Dec 2018
PCA at Mello London November 2018 PCA presentation at Mello London, November 2018 By Neil Sinclair, Chief Executive Stephen Silvester, Finance Director Richard Starr, Executive Director [link] Comprehensive overview of the strategy and market background, the financials and the portfolio.
Greyinvestor
26 Nov 2018
PCA half year results Last quick note; the discount to NAV is hovering around 28%, so it’s big. I can’t see it getting any bigger…
Greyinvestor
26 Nov 2018
PCA half year results ps. it is worth reading note 15 in the accounts (right at the end). All a bit messy, and slowish completion on house sales, so the slow plod goes on…
Greyinvestor
26 Nov 2018
PCA half year results Half year results are out today. If anyone from PCA reads this, will you please attempt to replicate the clarity of HSTN results? You should have one section which attempts to state your profit from rentals only, and which then compares this to your dividend. For the record, I think that you made about 8.8p v a divi of 9.5p. So, onto the results, which are very distorted by acquisition and capital raising activity. EPA NAV 421p v 451p, down - poor, due to dilutive rights issue EPRA EPS 7.7p v 12.4p - poor LTV 30% - fine DPS static at 4.75p - poorish The company is going through a ‘bogged down’ phase because of the acquisition and the York Road side. I’m unconvinced by the acquisition price. Having said the above, I think that this is probably an earnest plodder. It does have the ability to generate more rent and more capital value. The York site could be a good medium term earner. Selling off the houses should either fund York, or high yielding acquisitions, so it’s a sensible move. Other refurbs should work out OK. Why the 5% holding in Circle PLC? No explanation… I’m not entirely happy, but I do think that this is a Hold.
Greyinvestor
23 Nov 2018
News today News today of PCA disposing of most of the residential properties at 3% below book. In my view this is a good deal. The capital can be recycled to earn higher returns in the future. Good.
Tadpol52
10 Oct 2018
Are the shares in free fall?
Tadpol52
27 Sep 2018
Why do the directors get more shares when the share pice has fallen 20%!!!!
Tadpol52
24 Aug 2018
Share price still not moving - any ideas why this is turning out to be such a poor investment?
Greyinvestor
24 Apr 2018
Statement Useful statement today, nothing exceptional, the usual ups and downs, but good enough to keep me on board. The shares are still a bit undervalued.A strong Hold/ Weak Buy for me. I've got a substantial holding in these and NRR. I vacillated over INTU and didn't. They are rising already.......but have a substantial Debenhams content....I hope that PCA turns out to be as boring as watching paint dry, but a steady divi payer.No more discounted placings please......
Tadpol52
28 Mar 2018
The share issue has certainly destroyed the share price little sign of improvement in the last few weeks.
devonplay
16 Jan 2018
Re: Coin Perhaps I should clarify Mr Grey; I hold equity in the issuer, so the coins came gratis.It remains questionable what the equity value is, but that’s all ways the case with start-up. Maybe this might be my 1 in 16? I doubt I’ve got a unicorn on my hands!I have a small portfolio on start-up, I suppose if I’m honest mainly for fun. Mix of direct and platform holdings. On that note: income investors might like to keep an eye on [link] they are successful in creating a market for private investors to access senior corporate debt it could be very interesting.Much more information is available about then on Crowdcube and Seedrs.You might note a certain amount of self interest.....lolDL
devonplay
16 Jan 2018
Re: Further info Hi Grey,I’m just down a little bit. 330 all in. It was a small opened by position, so I’m not worrying.I spent quite a bit of time watching this one and thought around my entry price it was a good deal.I particularly liked the growth story. Ambitious team.Like ever, time will tell. DL
Greyinvestor
16 Jan 2018
Coin p.s anyone who's crazy enough to make money in that giant game of Spoof called Bitcoin, will find PCA somewhat soft!
Greyinvestor
16 Jan 2018
Further info To understand what has happened here, Google search ADVFN PCA chat.Basically the management cheesed off shareholders big time through a deeply discounted rights issue. You can take this one of two ways; get angry or try to make some money. I've tried the latter; so far I'm down a good bit, but I'm hoping that this one could yet come right. It all depends upon whether or not the last property acquisition was a good one or a Fred Goodwin moment. Time will tell.....but if you are fortunate enough to be a late arrival, you could make a few bob.
devonplay
27 Dec 2017
Re: Hefty purchases Bought a first tranche. 330 plus costs. 300% up on a "coin" holding this was part of a switch from something very difficult to undersand - I also switched some of the proceeds into BCT after the recent sell off - to something much easier to take a view on. Healthy discount, nice yield, ambitious team and few years of postive history!Any weakness I'll add more. As usual, I'll be buying in stages over a period of time.DL
