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
  -3.50 -2.55% 133.50 20,951 16:35:20
Bid Price Offer Price High Price Low Price Open Price
132.00 135.00 132.00 132.00 132.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 27.99 -24.16 -45.50 71
Last Trade Time Trade Type Trade Size Trade Price Currency
15:59:58 AT 740 132.00 GBX

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Date Time Title Posts
23/8/202117:26:::: TOWN CENTRE SECURITIES ::::213
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 137p.
Town Centre Securities Plc has a 4 week average price of 131.50p and a 12 week average price of 128p.
The 1 year high share price is 150p 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 4,346 shares. The market capitalisation of Town Centre Securities Plc is £70,971,203.25.
aringadingding: Hi all, anyone got any views on catalysts for price change? Sorry for generic post but seems to have been trading in a very unjustly low range of 130-145 since April!
castleford tiger: to buy circa 3.5m shares by November is close on 40k a day. First 3 days only bought 31k. Not easy to buy but it will push price up to narrow the gap. Hence I too have been adding from the 110 days and I will all the way up to 200p
trepid: Matt, agree with you that steady buying could force mms to up the bid price. It will be interesting to watch their tactics. Nomad, agree with you also that the Concert Party may well have an ulterior motive. Meanwhile, happy to hold.
irishmatt: Given size of buyback I think the positives outweigh the negatives on the liquidity point. Lack of liquidity with forced buying could be a good thing share price wise for continued holders
nomad54: buyback - infers excess cash flow, over potential growth in acquiring new investments. buyback - infers a reduction in debt is a cost that can be borne by the P & L. buyback - reduces liquidity in shares available in the market. buyback does hopefully increase a share price - depending upon the market's view of the entity.
trepid: In theory, share buybacks seem a good thing but they reduce the number of shares in issue. In the case of TOWN, this is the opposite of what is needed to improve liquidity, increase the current low level of trading, and reduce a bid/offer spread so large that it must surely deter potential investors.
spob: Https://www.edisongroup.com/wp-content/uploads/2021/05/Town-Centre-Securities-Reinvigorating-strategy.pdf
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! https://www.londonstockexchange.com/news-article/TOWN/half-year-results/14876120 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.
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://maynardpaton.com/2018/03/08/town-centre-securities-57-years-of-unbroken-dividends-and-a-share-price-25-below-nav/
Town Centre Securities share price data is direct from the London Stock Exchange
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