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INTERVIEW: Palace Capital – Hardman say it ticks all boxes

Palace Capital plc (LON:PCA) is the topic of conversation when Hardman & Co Analyst Mike Foster talks to DirectorsTalk. Mike Explains who the company are, talks about the portfolio, its asset types, income generated, risks and valuation.

Palace Capital is a UK property investment company admitted to trading on the London Stock Exchange plc’s main market. The Company is not sector specific and looks for opportunities where it can enhance the long-term income and capital value through asset management and strategic capital development in locations outside London. In its last reported financial year, Palace Capital produced a 27% increase in adjusted profit before tax, a 7% uplift in EPRA NAV per share from a post fundraise proforma base and a 3% increase in dividends for the year ending 31 March 2018.

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Palace Capital good clarity in NAV and EPS over and above the market (Analyst Interview)

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Palace Capital plc (LON:PCA) is the topic of conversation when Mike Foster, Analyst at Hardman & Co joins DirectorsTalk Interviews. Mike explains how Palace performed in their last interims, changes to the forecast, dividends, increasing rents,

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Palace Capital: Interim results – ammunition for major dividend rises

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Palace Capital plc (LON:PCA) 15 November interim results have led us to upgrade our profit and dividend forecasts modestly. Commercial property income is robust, and Hudson Quarter (HQ) residential profit margins are slightly ahead of expectations.

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Palace Capital: Dividend recovery ahead of expectations

22nd June 2021

Palace Capital plc (LON:PCA) March 2021 annual results were ahead of our expectations; notably, rent was £17.3m vs. our estimated £16.4m. FY20 rent stood at £18.3m, excluding a lease surrender premium, and there have been net

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Palace Capital: Strong trading update

23rd April 2021

Palace Capital plc (LON:PCA) December 2020 quarter rents showed 92% received; as of the 14 April trading update, 82% of the rents due end-March under the monthly payment plans had been received – a good initial

Palace Capital Analyst Q&A: Continued outperformance (LON:PCA)

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Palace Capital plc upside clear in FY22 (Analyst Interview)

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Palace Capital plc (LON:PCA) is the topic of conversation when Mike Foster, Analyst at Hardman & Co joins DirectorsTalk. Mike explains what the company invests in as a REIT, how it has performed, provides a bigger view

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Palace Capital: Interim results on track – upside clear in FY’22

25th November 2020

Palace Capital plc (LON:PCA) 1H’21 results cover the depths of the initial market impact of COVID-19. We note the 4.7% fall in EPRA NTA and the effect of the dividend rebasing announced some months prior. There

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Palace Capital Encouraging full-year results

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The healthy liquidity position of Palace Capital plc (LON:PCA) takes risks down to a modest level, as does the overweight to regional offices and minimal shops. The Hudson Quarter mixed-development site is selling well, and profitability

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Palace Capital Analyst Q&A (LON:PCA)

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Palace Capital 1H’20 results announced

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Palace Capital (LON: PCA) is the topic of conversation when Mike Foster, Analyst at Hardman & Co joins DirectorsTalk. Mike provides a little background on the company, talks us through the results, the company as a developer,

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Palace Capital 1H’20 results announced

27th November 2019

Palace Capital (LON:PCA) 1H’20 results were announced on 19 November. Seventeen lease events have been completed. Impressively, these were 25% above passing rent and 3% above ERV (i.e. previous estimated valuers’ levels). FY19 was struck 14%

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Palace Capital Conversion to REIT status; FY19 results announced

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Palace Capital’s (LON: PCA) results (4 June) show 37 new leases were completed. Most importantly, these were 14% above ERV (i.e. the level which previous valuers had estimated). This is one of several factors underpinning significant

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Palace Capital Portfolio and trading update

16th May 2019

Palace Capital (LON:PCA) 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

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Palace Capital Hudson Quarter, York, development commences

22nd March 2019

Palace Capital (LON:PCA) is a real estate investor. It has recently commenced construction of its mixed residential and commercial development at Hudson Quarter, having secured a new £26.5m debt facility and fixed price contract. Supply in

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Palace Capital Interim results to September 2018 reported

28th November 2018

Palace Capital (LON:PCA) reported 1H’19 (six months to September 2018) results on 26 November, in line with expectations. We reduce our forward estimates due to disposal and minor trimming of some 2020 income. The strategy of

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Palace Capital Initiation of coverage

23rd October 2018

Palace Capital (LON:PCA) has almost doubled NAV since the initial investment in October 2013. Good income generation is evidenced by the EPRA EPS and the DPS track record, whilst undertaking incremental refurbishments and development. The investment

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Hardman & Co Q&A with Analyst Mike Foster: Palace Capital PLC (LON:PCA)

22nd October 2018

Hardman and Co’s Mike Foster discusses Palace Capital PLC in this exclusive interview with DirectorsTalk