Shaftesbury Share Discussion Threads

[mamlo] 14/12/2006 16:38

congrats chrisgough. it would appear a few were happy to take profits at the 745p level. quite the afternoon dip which is disappointing but the chart has broken out and there should be more to come with m&a interest in this sector picking up.

[chrisgough] 14/12/2006 12:48

I took out a decent spreadbet on these yesterday, on no more than a gut feeling.
Thats Christmas paid for!

Happy Days :)

Im sure something will spoil it soon

[intrinsic value] 14/12/2006 12:41

Good call mamlo - Theres the 745p on a 6% rise. Average daily volume is 520k and we have that already at midday. Will be interesting to see if there is more to come - You have me intrigued now with 'buyout rumours' :-)

[mamlo] 14/12/2006 11:02

4% rise so far today. good to see. the broker upgrade suggests a 38p nav rise on the 590p we already have = 6%. a 6% share price rise on the 700p we had pre-results means 745p should be upon us rather soon. or it could be one of those buyout rumours we have heard so much about. now that would be a nice xmas gift.

[m.t.glass] 13/12/2006 16:35

Got off to a good start on this morning's broker upgrade - and held up.


LONDON (AFX) - Shares in Shaftesbury PLC have been upgraded to 'buy' from
'neutral' at Merrill Lynch on the basis of its strong position in the London
market, dealers said.
The broker said that Shaftesbury owns three key retail/restaurant 'villages'
in the heart of London and is therefore exceptional in its focus and management
style.
It went on to say, in a note published this morning, that the company
released strong year end results, with NAV growth up 30 pct to 590 pence from
455 pence in 2005.
It concluded that the two most significant purchases this year by
Shaftesbury were the formation of the Longmartin JV with Mercers and the
purchase of the Opera Quarter.
The US broker said that both have significant redevelopment potential and
over time estimates approximately 38 pence per share could be added to NAV.


[e-mail]

[intrinsic value] 11/12/2006 10:17

Property firm Shaftesbury posted a 30 percent rise in the value of its assets on Monday and said it saw considerable capacity to continue growth in rents.

Shaftesbury said its adjusted diluted net asset value per share (NAV) - a key performance measure for property companies -- was 590 pence at the end of its financial year to September 30.

The group said it made 13.9 million pounds adjusted pretax profit in the year, down 2.6 percent from a year ago, as net property income grew 8.3 percent to 47 million pounds.

Shaftesbury, which mainly rents space to bar and shop owners in London's West End, said it expected a moderation in yield movements in the coming year but rental growth would driven by occupier demand in its sought-after locations.

The group, with its premises mainly located in Covent Garden, Chinatown and the media districts of Carnaby Street and Charlotte Street, said it expected to convert to a low-tax real estate investment trust (REIT) in 2007.

REITs are property-managing companies which pay no tax on their rental income or on their capital gains as long as most of their income is paid out to investors as dividends.

They are common in several countries and are being launched in Britain on January 1.

Shares in the group, which have outperformed the real estate sector by 9 percent over the last 12 months closed at 703 pence on Friday, valuing the group at around 933 million pounds.

The group, whose properties include celebrity haunt The Ivy restaurant, said it would pay a final dividend of 3.73 pence per share, giving a total for the year of 5.65p, compared to 5p a year ago.

[mamlo] 11/12/2006 09:35

relatively decent set of numbers this morning with nav at 590p but is it already in the price?

[tonytravel] 05/12/2006 15:55

No other messages ?

[forryan] 14/12/2005 20:57

well, somebody must have done well out of this over the last 12 months - is there more to come?

[forryan] 14/12/2005 20:55

err....how's that short position going?

[kantona] 05/11/2004 18:46

well my target has been breached within a week ..300p today ...will look to take some profits next week,but keep some for results etc

[kantona] 03/11/2004 18:12

the eps has been increasing gradually ..reflected in the increased turnover, profit and increased dividend .. the company in the past year has been working hard to maximise it's rental income from it's refurbishment programme undertaken..this increase will be reflected in the forthcoming results.

The shares ticking up on back of no news, now past the 290p mark .. i don't expect them to continue to rise in a straight line .. my 5-15% is my personal target only ( though i won't be selling b4 the results are out).

no doubt there may be other safer co's out there for someone seeking this type of 'safe' return in 1-2 month time...but the question is which ones?

[liarspoker] 02/11/2004 00:54

EPS growth seems to be a bit radical.

Seems to be a few safer shares around for this kind of gain.

Each to their own though - DYOR.

[kantona] 02/11/2004 00:00

This is a solid real estate company. The financial year ended in September and the results will be due in the coming weeks (yet to be confirmed) The shares historically rise leading up to the results, which are expected to be good after the the developments over the last year.

Fter the interims for six months toMarch 2004,NAV rose to 294 pence from 287 pence and pretax profit was 7.55 mln stg, up from 6.39 mln. Turnover for the half year rose to 23.8 mln stg from 22.6 mln.

The board recommended an increased interim dividend of 1.513 pence, up from
1.375 pence. This 10 pct increase in the interim dividend reflects both the
board's growing revenue and confidence in the company's future prospects, it
said.

The board said this first half of the year has seen a welcome return to more
settled conditions in the West End. There has been a noticeable recovery in
business confidence and visitor numbers, it added.

The group has an active programme of refurbishments and improvements.
Currently commercial projects completed and available to let have an estimated
rental value of 1.6 mln stg per annum. Projects currently being planned or in
progress have a current estimated rental value of 1.5 mln stg per annum.

Carnaby now represents 42 pct by value of the company's property assets. It
includes 166 shops and restaurants and 55 pct of its offices.

The group said it expects Carnaby will also benefit from The Crown Estate's
comprehensive programme to upgrade its adjoining Regent Street estate between
Piccadilly Circus and Oxford Circus.

Recently, the company has started to extend and improve a further seven
shops at prominent corners in Carnaby Street. Current interest suggests that by
completion of works this autumn they will let quickly and at improved rental
levels.

In addition, offices in Carnaby continue to attract fashion-related
retailers and businesses and rents have now stabilised. Currently the group has
15,000 sq ft of offices ready to let and a further 16,000 sq ft due to be
refurbished. Covent Garden represents 30 pct of the company's property assets and now includes 131 shops and restaurants, 30 pct of the company's offices and 40 pct of its residential uses.

The group is giving priority to unlocking the full potential of the group of
freeholds including and adjoining Wellington House, which extend to about
two-thirds of an acre immediately south of Seven Dials towards Long Acre. The
group is seeking planning permissions for mixed uses with an emphasis on
shopping and leisure in place of predominantly existing offices and car parking.
In Chinatown, the group said business confidence has now returned after the
depressed conditions of the previous 18 months brought about by the confluence
of unrelated external events.
Consequently, as expected, the group has now let, on good terms, all three
restaurants, which were vacant at last year end, including the recently improved
building at the corner of Shaftesbury Avenue and Wardour Street.The group has secured vacant possession of two large restaurant buildings and improvements are now under way. Current enquiries suggest that they will let readily on completion of works later this year.

overall the shares are reasonably placed up 4p from 278p today, i would expect them to move further ahead and it seems a good solid play for value investment , for those loooking for 5-15% return in 2 months.

good luck other views welcome

[kantona] 01/11/2004 23:38

This is a solid real estate company. The financial year ended in September and the results will be due in the coming weeks (yet to be confirmed) The shares historically rise leading up to the results, which are expected to be good after the the developments over the last year.

after the interims for six months toMarch 2004, NAV rose to 294 pence from 287 pence and pretax profit was 7.55 mln stg, up from 6.39 mln. Turnover for the half year rose to 23.8 mln stg from 22.6 mln.

The board at the time recommended an increased interim dividend of 1.513 pence, up from 1.375 pence. The board said this first half of the year has seen a welcome return to more settled conditions in the West End. There has been a noticeable recovery in business confidence and visitor numbers, it added.

The group has an active programme of refurbishments and improvements.
Currently commercial projects completed and available to let have an estimated
rental value of 1.6 mln stg per annum. Projects currently being planned or in
progress have a current estimated rental value of 1.5 mln stg per annum.

Carnaby now represents 42 pct by value of the company's property assets. It
includes 166 shops and restaurants and 55 pct of its offices.

The group said it expects Carnaby will also benefit from The Crown Estate's
comprehensive programme to upgrade its adjoining Regent Street estate between
Piccadilly Circus and Oxford Circus.

Recently, the company has started to extend and improve a further seven
shops at prominent corners in Carnaby Street. Current interest suggests that by
completion of works this autumn they will let quickly and at improved rental
levels.

In addition, offices in Carnaby continue to attract fashion-related
retailers and businesses and rents have now stabilised. Currently the group has
15,000 sq ft of offices ready to let and a further 16,000 sq ft due to be
refurbished. Covent Garden represents 30 pct of the company's property assets and now includes 131 shops and restaurants, 30 pct of the company's offices and 40 pct of its residential uses.

The group is giving priority to unlocking the full potential of the group of
freeholds including and adjoining Wellington House, which extend to about
two-thirds of an acre immediately south of Seven Dials towards Long Acre. The
group is seeking planning permissions for mixed uses with an emphasis on
shopping and leisure in place of predominantly existing offices and car parking.
In Chinatown, the group said business confidence has now returned after the
depressed conditions of the previous 18 months brought about by the confluence
of unrelated external events.

Consequently, as expected, the group has now let, on good terms, all three
restaurants, which were vacant at last year end, including the recently improved
building at the corner of Shaftesbury Avenue and Wardour Street.The group has secured vacant possession of two large restaurant buildings and improvements are now under way. Current enquiries suggest that they will let readily on completion of works later this year.

overall the shares are reasonably placed up 4p from 278p today, i would expect them to move further ahead and it seems a good solid play for value investment , for those loooking for 5-15% return in 2 months.

good luck other views welcome

[roco] 30/7/2003 22:09

Whole sector looked good today
PS
Hello

[miamisteve] 30/7/2003 21:54

hello! hello! anyone HELLO!

[miamisteve] 12/6/2003 08:20

A much safer bet than canary wharf for those looking at discounts to nav.

[miamisteve] 17/4/2003 07:10

level two looking good for a couple of pence. 4 vs 1

[indalo] 11/12/2002 09:35

Ehh?....what broker?

I'm alreasy short on these for these reasons:

1) Director selling throughout the year at levels only slightly above today's

2) PE of 30+

3) Dividend is only 1.5%

4) NAV calculated in Spetember 2002 at 285 looks very optimistic IMO..other West End co's have written down NAVs slightly. I think NAV will deteriorate further as the property market in central London corrects.

5) Rental yields will come under pressure as lower tourism and consumer spending eat into restauraunt profits. Office rentals have already suffered, restauraunts will be next.

6) Their discount to NAV should be higher...35% as a guide, which would value them at 185p...and that's assuming no NAV impairment!

7) I can't see ANY reason for people to buy this share..and lots of reasons to sell it!

[patricjohnson] 11/12/2002 09:27

Shaftesbury - Shares fall after renewed concern about its Business Model after its recent results - Broker Sets 180p Target

[gran] 27/11/2002 16:51

Looks like this is heading up towards results next week. Good results expected then???

[gurp] 17/10/2002 12:41

bloody hope so! anyone spare a dime?
seems to trade inverse with land

[m.t.glass] 17/10/2002 12:26

Oh look... my shorting loss is shrinking by the hour :o)
Could I yet be right after all?