Capital Growth ProspectsThe company's capital growth prospects are relatively low.
Portfolio YieldThe company's portfolio equivalent yield was 4.4% at end-June, which should stabilize around 4.5% but is not expected to provide sufficient headroom for capital growth.
Shareholder ReturnsThe equity market has a clear preference for companies with embedded organically produced rental income growth, particularly Student Accommodation and Logistic, but the nature of Shaftesbury's low-yielding rarified portfolio means shareholder returns are largely confined to capital.