Share Name Share Symbol Market Type Share ISIN Share Description
Shaftesbury Plc LSE:SHB London Ordinary Share GB0007990962 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  -11.50 -1.82% 619.50 406,993 16:35:20
Bid Price Offer Price High Price Low Price Open Price
623.50 624.00 631.50 615.50 631.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 126.90 26.00 8.50 72.9 2,380
Last Trade Time Trade Type Trade Size Trade Price Currency
17:51:47 O 7,923 619.50 GBX

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Date Time Title Posts
23/8/202110:40Shaftesbury.. solid one to watch600
04/6/200813:50*** Shaftesbury ***-
14/12/200520:55Shaftesbury - Shares fall after renewed concern about its Business Model2
30/7/200323:09Any thoughts on Shaftesbury?14

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Shaftesbury Daily Update: Shaftesbury Plc is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker SHB. The last closing price for Shaftesbury was 631p.
Shaftesbury Plc has a 4 week average price of 589p and a 12 week average price of 558.50p.
The 1 year high share price is 673.50p while the 1 year low share price is currently 407p.
There are currently 384,214,860 shares in issue and the average daily traded volume is 361,056 shares. The market capitalisation of Shaftesbury Plc is £2,380,211,057.70.
essentialinvestor: konrad, appreciate your updates here and sector insight. SHB recovered quickly post the great financial crisis, from memory by Q4 2009 their asset values were seeing low double digits increases. Post pandemic the lack of overseas tourism is a big differentiator from the GFC with approx a third of footfall coming from overseas. I had hoped there would be a slow but gradual recovery in tourism over 2022 with perhaps pre pandemic volumes seen in H2 2023 in to 2024 approx.
nickrl: SHB trading close NTA unlike its biggest shareholder CAPC who are around 21% below so owning c25% of SHB isn't doing them any favours. Still feel share price has downside protection from this shareholding and wonder whether Norges Bank, a big holder in both, will try and engineer a merger of equals at some point. Bicknell won't like it but London footfall is going to be constrained for next few years and whether it ever comes back to pre covid levels has to be in doubt so rental tone will be under pressure for next couple of years.
essentialinvestor: Hold a small amount but regardless I will give an honest assessment when commenting on a stock (which obvs is just a subjective view!) and can't make a short term buy case for SHB at present. Longer term it looks like a sitting duck but would not be confident at what price level corporate action may arise.
konradpuss: Grainger, I prefer their regulated tenancy portfolio than their BTR (build to rent) portfolio. Now if their share price halved then .........
nickrl: Konrad spot on but there are a few others REITs in a similar position but telling thing for me are the ones where directors never purchase because the share options are so lucrative they even manage to payout when the business has been trashed by a pandemic. I also see on the bigger favoured REITs there has been little movement by big shareholders to sell down during the pandemic and given many are now on sustainable payouts its probably suits them to have some level of income so share price unlikely to shift until one of them decides the games up and there's better value elsewhere.
konradpuss: Agreed nickel, however on your view of the valuation of the portfolio and therefore the share price I wonder if Capco have the 'bottle' to bid? O.K. you said they provide a 'floor' to the share price. As an aside I think I put my 'buy' price here at circa two quid - perhaps a little harsh but very possible due to the gearing and fall in rents. I cannot see the current 'sound bite' well over paid Chief Executive of Shaftesbury rolling over without a fight as he would be out of a job if Capco took over. The Capco management would know doubt wish to rule the roost. Sammy runs the Langham Estate with very few people - probably modestly paid. Just look at what the management take at Shaftesbury to send out a few rent demands and pontificate on 'curating'. They need to get real, cut costs and do something entrepreneurial. Just my humble opinion - I don't think Bickell does humble!
nickrl: Konradpuss that along with lack of international tourism for a few years means rents have to fall but SHB are managing this via t/o rents which is probably sensible course of action if not only course. However, how much base rents they can guarantee isn't being visible is where I see huge uncertainty now over this and price is way too high imv. Again though CAPC interest will probably keep a floor under the price currently.
konradpuss: A bit of a step down in the share price today. Perhaps a delayed reaction to their recent figures.
nickrl: EI hospitalisation rates is clearly driving govt policy here and imv that won't reach a peak for a few more weeks. Even then govt will want a significant reduction to rebuild a buffer before it relaxes much. They are also clearly running a strategy to at least minimise the possibility of imported mutations now and much of the Western world is in the same space. So I see international tourism being significantly reduced in 21 and SHB are leveraged to that footfall driving there tenants income and thus SHB NRI. There is the potential that there will be substitution from staycations and day visitors but that needs the current rules being relaxed back to at least as they were last summer. I believe this will happen in part from current measures and vaccinations but more so from natural suppression of the respiratory. With SHB leveraging themselves to t/o rents they aint going to have a good 2021 so your buying into the future here. They have the cash in hand to get through this now and of course there remains the possibility of CAPCC launching a bid or more sensibly trying for a merger but share price will tread water at current levels.
nickrl: Essential in terms of an opportunity to get hold a big stake quickly have to concur with your view although CAPCO will see no return on that for at least 12-18mths. Furthermore they've put a prop under SHB share price with there intentions now pretty clear they want a merger or a takeover and im pretty sure they would get the funding as well given how many other plc are getting hefty raisings' away without issue currently. As you say plenty of dosh in the system looking for home not because its makes money but earns fees for the bankers promoting them.
Shaftesbury share price data is direct from the London Stock Exchange
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