Share Name Share Symbol Market Type Share ISIN Share Description
Town Centre Securities Plc LSE:TOWN London Ordinary Share GB0003062816 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 132.50 6,207 16:29:45
Bid Price Offer Price High Price Low Price Open Price
127.00 138.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 27.99 -24.16 -45.50 70
Last Trade Time Trade Type Trade Size Trade Price Currency
15:33:29 O 4,000 129.76 GBX

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22/4/202111:00:::: TOWN CENTRE SECURITIES ::::202
02/3/201623:21*** Town Centre Securities ***-

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Town Centre Securities Daily Update: Town Centre Securities Plc is listed in the Real Estate Investment Trusts sector of the London Stock Exchange with ticker TOWN. The last closing price for Town Centre Securities was 132.50p.
Town Centre Securities Plc has a 4 week average price of 127p and a 12 week average price of 107p.
The 1 year high share price is 144p while the 1 year low share price is currently 80.50p.
There are currently 53,161,950 shares in issue and the average daily traded volume is 16,207 shares. The market capitalisation of Town Centre Securities Plc is £70,439,583.75.
nickrl: TOWN rental update is reasonable given its retail/leisure portfolio being city centre centric at 80% with another 12% deferred but when its coming isn't made clear. On NAV this one is still around 50% below even with recent run up but they sold some of the income producing retail and my take with the hefty interest charge on the debenture they will struggle to move the dividend any higher unless they sell more family silver. Ziffs could have taken out for a lot less six months ago so unlikely they are going to move now. I guess the development opportunities they hold may make this a target if the cities look like they are back in vogue.
nickrl: TOWN responding well to HY results! NAV surprisingly only down 0.8% paying an uncovered interim of 1.75p (3.25p). Haven't got time now to read the whole report but still feel their disposal of the retail pk assets was an adverse move on long term income and they still have 10 years to run on the 5.375% debenture but did use some of the proceeds to buy some back but just short of £100m o/s this will weigh on costs.
spectoacc: Put on gardening leave with no new job announced, and no candidate lined up to replace him - seems very like a falling out. Question is, over what. Don't hold either, tho everything has its price.
nickrl: TOWN rent collection out today and they've collected 76% at the cash level for this qtr. There forecasting 83% at the cash level ytd or 87% with deferrals. 5% in exchange for improved lease terms and 8% is o/s no some of it can pay but won't brigade. I like the comment "Premier Inn, owned by Whitbread Plc, unexpectedly paid only half of their rent due for the latest quarter, leaving £0.1m unpaid, without any agreement" Well trailed in the mainstream press they were going to do this! They sold several income producing assets last year so income is down several million but costs aren't. At the cash level be surprised if they will cover operating costs and interest (the debenture at 5.75% is a real drain) so nothing left for divi but we will see when half year results released on 24 February 2021. The Ziff family could have taken this at a low price but haven't isn't a good omen either and whilst its on hefty discount to NAV the interims we show another stepdown.
spob: Https:// The Bottom Line (BBC podcast) Commercial Property Wars Released On: 05 Nov 2020 Commercial landlords and tenants are at odds over unpaid rents due to the pandemic. Many retail, hospitality and leisure businesses are suffering acutely. Most have landlords who collect rent for their premises. In turn, many landlords have to pay interest on their loans to the banks. The pandemic is upsetting that delicate financial balance. It's estimated that billions of pounds is owed to landlords in unpaid rents. Threats of legal action against tenants are hitting the headlines. Just who should take more of the financial hit - commercial landlords or their tenants? Guests Edward Ziff, Chair and CEO of Town Centre Securities, a property investment firm Mark Dixon, CEO of international Workplace Group, which rents, develops and sublets office space and Charlotte Heyes, director of the small pub chain, Common and Co.
castleford tiger: what is latest asset value per share 292 at end of June We get currently just over 5% ( based on price as was 95p) tiger
inki: Castleford - quite so - Banks have bigger issues than with TCS - Gearing is one issue, yet the Asset Value to share price is still relevant. There is a diversification factor here which should help the company survive. It will prosper if the country does.
speedsgh: COVID-19 Update - HTTPS:// ...Edward Ziff, Chairman and Chief Executive commented: "We continue to see a consistent and reassuring level of rent collection. To have maintained collection and deferred payment levels at 87% to date reflects the quality, uniqueness and diversified nature of our portfolio and the collaborative and strong relationships we have built in partnership with our tenants over many years. "I am also pleased with the significant and swift progress made on our disposal programme. £41.2m of sales since our June year end has allowed us to significantly reduce debt, lower the proportion of retail and leisure assets in our portfolio, increase financial headroom, and create greater flexibility for the future as we reset and reinvigorate the business."
speedsgh: PurplePelmets - I know it is somewhat out-of-date now that the 2020 Final Results have been released (we are still awaiting release of the 2020 Annual Report) but according to the 2019 Annual Report, the Ziff family owns 52% of the company's shares. AFAIAA it has been at this level for a while and hasn't changed materially since release of the 2019 Annual Report. HTTPS:// Again out-of-date but this analysis of TOWN by Maynard Paton (published March 2018) is well worth a read for background info if you haven't already seen it. HTTPS://
speedsgh: Even though it was written back in March 2018, the following Maynard Paton article is an excellent, highly informative, almost forensic analysis of TOWN at that point and much of it holds true today. A highly useful starting point for undertaking investment research on the company. I note that at the time of writing the shares were trading at 281p which represented a 25% discount to the company's 375p NAV (as at 31/12/2017). Today the shares are trading at c185p which represents a 48% discount to the company's latest published NAV of 354p (as at 30/6/2019). There is also a very interesting graph (extracted from SharePad) which shows that the TOWN share price has pretty much consistently traded at a discount to NAV over the past 15-20yrs, albeit rarely as deep as the current discount. HTTPS://
Town Centre Securities share price data is direct from the London Stock Exchange
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