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
  -1.00 -0.47% 214.00 36,479 16:35:24
Bid Price Offer Price High Price Low Price Open Price
212.00 216.00 216.00 214.00 214.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 30.18 18.38 34.60 6.2 114
Last Trade Time Trade Type Trade Size Trade Price Currency
12:40:46 O 21,198 212.00 GBX

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Date Time Title Posts
14/10/201911:33:::: TOWN CENTRE SECURITIES ::::122
02/3/201623:21*** Town Centre Securities ***-

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Town Centre Securities (TOWN) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2019-11-21 17:15:00212.0021,19844,939.76O
2019-11-21 12:40:47212.053,0276,418.75O
2019-11-21 12:34:05216.003,2827,089.12O
2019-11-21 12:06:35216.001,0002,160.00O
2019-11-21 10:54:24216.002,5005,400.00AT
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Town Centre Securities (TOWN) Top Chat Posts

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 215p.
Town Centre Securities Plc has a 4 week average price of 197p and a 12 week average price of 164p.
The 1 year high share price is 248p while the 1 year low share price is currently 164p.
There are currently 53,161,950 shares in issue and the average daily traded volume is 17,256 shares. The market capitalisation of Town Centre Securities Plc is £113,766,573.
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://
speedsgh: Whilst acknowledging that they are talking their own book below, I am inclined to agree with their statement below that in the long term the current share price will prove to have been an opportunity. In view of the board and their families' large shareholdings, I also suspect that there is low probability of the "59-year history of maintaining or increasing dividends" not continuing for years to come. ------------------------------------------------------ From the Finals... Creating long-term value for shareholders Our objective has always been to generate value for our shareholders, with a particular emphasis on income and dividend, and we are very proud of our unbroken, 59-year history of maintaining or increasing dividends. A source of frustration in recent times has been the disconnect between our share price and net asset value per share. We firmly believe that our long history of value creation combined with our material development pipeline should present an excellent investment opportunity for investors. £1,000 invested in TCS shares 50 years ago would today be worth circa £580,700 on a total return basis, equivalent to a CAGR of 13.6% per annum (Source: Datastream). Furthermore, again over the last 50 years, the TCS share price has increased in value by an average annual rate of 9.1%, compared to the FTSE All Share at 7.0% (As at 9/8/19)
topvest: Yes, fairly solid as companies go and on a massive discount. Will continue to hold. Not quite a buy yet until we get some bottoming on the share price.
jonwig: speeds - yes, I really ought to revisit this - it got through the GFC without essential damage (except to the share price). I guess there's a development discount, and the debt of course. But £106m of this is a debenture due 2031 so it's not an immediate concern. A few years ago I attended an AGM. Ziff was dismissive and unwilling to answer my questions more than perfunctorily. Fortunately the FD and a NED were quite friendly and made up for that. That FD left shortly after, and I've wondered how collegiate the board are: if it's a Ziff and family dominated company there's potential for overreach.
jonwig: Here they are: Https:// Look very OK. Share price has gone sideways for ages. 28% discount to NAV is far too high given all the developments which will start producing income this year.
jonwig: manrobert - yes, strange price swings are common with this company. Whatever the share price, they are pushing ahead with development in Leeds. Partnership with the Council will help. They say they are "working with aparthotel operators", which seems a bit ambiguous - develop then sell, or sell and develop?
retsius: Wtf happened to share price? Any info guys?
jonwig: Very positive trading statement for the year. Full results on 13 Sept. The share price has been range-bound for about 8 months. Would be good to see 300p broken.
jonwig: Half year report: Http:// Nothing to get excited about, nor concerned about. Dividend and EPRA eps up a bit, NAV down a bit (Merrion Centre owing to 'a yield shift' ... would have liked more detail on that). LTV still at 50% probably explains the persistent discount to 355p NAV, though more than half of this is the 2031 debenture. Share price stuck for the past four months. I'm happy to hold for the hoped-for benefits of shift to 'the North'.
Town Centre Securities share price data is direct from the London Stock Exchange
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