Shaftesbury (SHB) Receives Reduce Rating from Peel Hunt

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Peel Hunt restated their reduce rating on shares of Shaftesbury (LON:SHB) in a research note released on Friday morning.

Several other research firms also recently commented on SHB. Numis Securities reissued a hold rating and issued a GBX 1,028 ($13.43) price objective on shares of Shaftesbury in a report on Tuesday, November 27th. Liberum Capital reissued a hold rating on shares of Shaftesbury in a report on Tuesday, November 27th. UBS Group reissued a neutral rating on shares of Shaftesbury in a report on Friday, November 23rd. Morgan Stanley cut their price objective on Shaftesbury from GBX 920 ($12.02) to GBX 880 ($11.50) and set an underweight rating for the company in a report on Thursday, November 29th. Finally, HSBC downgraded Shaftesbury to a reduce rating and cut their price objective for the company from GBX 856 ($11.19) to GBX 789 ($10.31) in a report on Wednesday, December 19th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Shaftesbury presently has an average rating of Hold and a consensus target price of GBX 912.44 ($11.92).

LON:SHB opened at GBX 878.50 ($11.48) on Friday. Shaftesbury has a twelve month low of GBX 894.50 ($11.69) and a twelve month high of GBX 1,055 ($13.79).

Shaftesbury (LON:SHB) last released its quarterly earnings results on Tuesday, November 27th. The real estate investment trust reported GBX 17.10 ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of GBX 17.60 ($0.23) by GBX (0.50) (($0.01)).

The business also recently disclosed a dividend, which will be paid on Friday, February 15th. Stockholders of record on Thursday, January 17th will be issued a GBX 8.50 ($0.11) dividend. This represents a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, January 17th. This is an increase from Shaftesbury’s previous dividend of $8.30.

In other Shaftesbury news, insider Brian Bickell sold 20,016 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of GBX 870 ($11.37), for a total transaction of £174,139.20 ($227,543.71). Also, insider Christopher P. A. Ward sold 2,386 shares of the firm’s stock in a transaction on Wednesday, January 9th. The shares were sold at an average price of GBX 840 ($10.98), for a total value of £20,042.40 ($26,188.95).

About Shaftesbury

Shaftesbury is a Real Estate Investment Trust which owns a portfolio extending to 15 acres in the heart of London's West End. Shaftesbury focuses on retail, restaurants and leisure in highly popular, sought-after and prosperous locations mainly concentrated in Carnaby, Seven Dials and Chinatown but also include substantial ownership in East and West Covent Garden, Soho and Fitzrovia.

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Analyst Recommendations for Shaftesbury (LON:SHB)

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