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Shaftesbury Capital (GB:SHC)
LSE:SHC
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Shaftesbury Capital (SHC) AI Stock Analysis

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GB:SHC

Shaftesbury Capital

(LSE:SHC)

Rating:75Outperform
Price Target:
175.00p
▲(19.70% Upside)
Shaftesbury Capital's overall stock score is driven by strong financial performance and robust technical indicators, supported by positive corporate events. The company's solid balance sheet and strategic partnerships further bolster its growth prospects. The valuation is reasonable, offering potential for both growth and income. Earnings call data was not available, thus not included in the score.
Positive Factors
Investment Validation
The Norwegian sovereign wealth fund acquired a direct 25% stake in Shaftesbury's Covent Garden estate, validating the estate's valuation at a total of £2.7bn.
Liquidity and Debt Management
The proceeds from the investment will reduce the company's loan-to-value ratio to under 20%, enhancing liquidity to repay the £275m exchangeable bond at maturity.
Operational Performance
Strong operational results with the group signing 473 leasing transactions, 9% above estimated rental values.
Negative Factors
Consumer Market Conditions
Some medium-term headwinds, such as a weaker consumer, could hold back the shares compared to peers.
Market Valuation
Shaftesbury's shares currently trade at a 40% discount to the FY25e NTA forecast, which is seen as unjustified given the positive changes resulting from the Norges deal.

Shaftesbury Capital (SHC) vs. iShares MSCI United Kingdom ETF (EWC)

Shaftesbury Capital Business Overview & Revenue Model

Company DescriptionShaftesbury Capital (SHC) is a UK-based real estate investment trust (REIT) focused on the ownership and management of high-quality retail and leisure properties predominantly located in the West End of London. The company specializes in acquiring and developing properties in prime locations that attract both local and international visitors. Its portfolio includes a diverse range of properties, from shops and restaurants to office spaces, all aimed at enhancing the vibrancy and appeal of the urban environment.
How the Company Makes MoneyShaftesbury Capital generates revenue primarily through rental income from its diverse portfolio of properties, which are leased to a variety of tenants in the retail and leisure sectors. The company benefits from long-term leases that provide stable cash flows, while also capitalizing on the increasing demand for prime retail space in London. Additionally, SHC engages in property development and refurbishment projects, which can lead to increased asset value and higher rental yields. Strategic partnerships with retailers and restaurateurs enhance its tenant mix, driving foot traffic and, consequently, rental income. The company's ability to adapt to market trends allows it to optimize its revenue streams and maintain strong occupancy rates across its properties.

Shaftesbury Capital Financial Statement Overview

Summary
Shaftesbury Capital shows strong revenue growth and profitability with a healthy gross profit margin of 73.6% and a notable net profit margin of 111.0%. The balance sheet is robust with a debt-to-equity ratio of 0.40 and strong equity ratio of 70.2%. However, there is some operational volatility as indicated by fluctuating EBIT margins and a need for better alignment of cash flow with net income.
Income Statement
67
Positive
Shaftesbury Capital has shown strong revenue growth with a significant increase from the previous year, indicating a positive trajectory. The gross profit margin is healthy at approximately 73.6%, and the net profit margin for the latest year is notable at 111.0%, reflecting profitability. However, the EBIT margin shows fluctuations, and the EBITDA margin is exceptionally high, possibly due to non-recurring items, suggesting some operational volatility.
Balance Sheet
72
Positive
The company's balance sheet is solid, with a debt-to-equity ratio of 0.40, indicating a reasonable level of leverage. The equity ratio is strong at 70.2%, reflecting financial stability. Return on Equity (ROE) stands at 6.9%, which is moderate but shows the company is generating returns on its investments in equity.
Cash Flow
63
Positive
Shaftesbury Capital's cash flow position shows improvement, with a significant turnaround to positive free cash flow. The operating cash flow to net income ratio is less than optimal, suggesting room for improvement in cash generation relative to accounting profits. The free cash flow to net income ratio indicates that while the company is generating free cash flow, it is not fully aligned with net income levels.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue227.10M198.00M87.60M75.30M72.90M
Gross Profit167.10M144.80M70.90M42.80M13.40M
EBITDA324.70M818.60M-178.40M73.40M-679.10M
Net Income252.10M750.40M-177.10M59.10M26.80M
Balance Sheet
Total Assets5.23B5.22B2.35B2.80B2.91B
Cash, Cash Equivalents and Short-Term Investments109.80M208.50M129.90M331.10M365.10M
Total Debt1.47B1.63B744.40M941.00M1.08B
Total Liabilities1.56B1.74B789.60M1.01B1.15B
Stockholders Equity3.67B3.48B1.56B1.79B1.76B
Cash Flow
Free Cash Flow49.40M-17.00M-4.10M-8.80M-78.70M
Operating Cash Flow51.70M-13.60M7.00M-900.00K-54.80M
Investing Cash Flow103.20M155.80M7.10M101.00M-250.50M
Financing Cash Flow-231.10M-71.90M-215.30M-147.60M517.30M

Shaftesbury Capital Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price146.20
Price Trends
50DMA
152.33
Negative
100DMA
144.06
Positive
200DMA
132.98
Positive
Market Momentum
MACD
-1.61
Positive
RSI
36.74
Neutral
STOCH
16.31
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:SHC, the sentiment is Neutral. The current price of 146.2 is below the 20-day moving average (MA) of 152.08, below the 50-day MA of 152.33, and above the 200-day MA of 132.98, indicating a neutral trend. The MACD of -1.61 indicates Positive momentum. The RSI at 36.74 is Neutral, neither overbought nor oversold. The STOCH value of 16.31 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:SHC.

Shaftesbury Capital Peers Comparison

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
75
Outperform
£2.87B8.758.66%2.53%-0.04%655.16%
71
Outperform
£1.40B4.7613.69%4.74%1.66%11.42%
63
Neutral
$7.02B13.47-0.52%7.00%3.61%-22.78%
$2.43B9.628.06%4.89%
67
Neutral
£303.63M13.025.64%2.81%-8.63%-11.48%
66
Neutral
£4.25B10.726.13%5.94%0.97%
62
Neutral
£1.26B10.286.47%2.56%-0.63%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
GB:SHC
Shaftesbury Capital
146.20
6.46
4.62%
BYLOF
Big Yellow Group
12.43
-3.25
-20.73%
GB:BOOT
Henry Boot
230.00
18.62
8.81%
GB:GPE
Great Portland Estates plc R.E.I.T.
308.00
-15.89
-4.91%
GB:LAND
Land Securities Group plc REIT
559.00
-27.10
-4.62%
GB:SAFE
Safestore Holdings
643.50
-174.24
-21.31%

Shaftesbury Capital Corporate Events

Dividends
Shaftesbury Capital Announces 2025 Interim Cash Dividend Details
Neutral
Aug 12, 2025

Shaftesbury Capital PLC has announced the details of its 2025 interim cash dividend, which will be distributed at a rate of 1.9 pence per ordinary share. This includes 1.5 pence as a property income distribution (PID) and 0.4 pence as an ordinary dividend (Non-PID). The exchange rate for South African shareholders is set at 23.87450 ZAR to 1 GBP, resulting in a cash dividend of 45.36155 ZAR cents per share before taxes. The announcement provides guidance on withholding tax implications for both UK and South African shareholders, emphasizing the potential for tax exemptions and reductions under certain conditions.

The most recent analyst rating on (GB:SHC) stock is a Buy with a £165.00 price target. To see the full list of analyst forecasts on Shaftesbury Capital stock, see the GB:SHC Stock Forecast page.

Dividends
Shaftesbury Capital Announces Interim Dividend Impacting Exchangeable Bonds
Neutral
Jul 30, 2025

Shaftesbury Capital PLC has announced an interim dividend of GBP 0.019 per share, scheduled for payment on 1 October 2025. This dividend will result in a Capital Distribution, impacting the terms of its GBP 275 million 2.00% Secured Exchangeable Bonds due 2026. The adjustment to the Exchange Property will be effective on 1 October 2025, with further details to be provided to bondholders on that date.

The most recent analyst rating on (GB:SHC) stock is a Hold with a £160.00 price target. To see the full list of analyst forecasts on Shaftesbury Capital stock, see the GB:SHC Stock Forecast page.

DividendsBusiness Operations and StrategyFinancial Disclosures
Shaftesbury Capital Reports Strong Interim Results and Growth Prospects
Positive
Jul 29, 2025

Shaftesbury Capital PLC reported strong interim results for the first half of 2025, showcasing growth in rents, earnings, dividends, and property valuations. The company completed 193 leasing transactions, with rents 9% above December 2024 levels, and increased its portfolio valuation by 3.1% to £5.2 billion. The partnership with Norges Bank Investment Management for the Covent Garden estate and a robust balance sheet position Shaftesbury Capital for further growth and investment opportunities in London’s West End, with a target of 5-7% rental growth and total accounting returns of 8-10% over the medium term.

The most recent analyst rating on (GB:SHC) stock is a Buy with a £165.00 price target. To see the full list of analyst forecasts on Shaftesbury Capital stock, see the GB:SHC Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
BlackRock Increases Stake in Shaftesbury Capital
Neutral
Jul 16, 2025

Shaftesbury Capital PLC, a UK-based company, has announced a change in its major holdings, with BlackRock, Inc. acquiring additional voting rights. The acquisition has resulted in BlackRock holding a total of 6.15% of the voting rights in Shaftesbury Capital, up from a previous position of 6.08%. This change in holdings may impact the company’s decision-making processes and influence its strategic direction, given BlackRock’s significant role as a shareholder.

The most recent analyst rating on (GB:SHC) stock is a Buy with a £165.00 price target. To see the full list of analyst forecasts on Shaftesbury Capital stock, see the GB:SHC Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
BlackRock Increases Stake in Shaftesbury Capital
Neutral
Jul 9, 2025

Shaftesbury Capital PLC, a UK-based company, has announced a change in its major holdings due to an acquisition or disposal of voting rights by BlackRock, Inc. The transaction has resulted in BlackRock holding 6.08% of the voting rights in Shaftesbury Capital, up from a previous position of 5.82%. This change in holdings indicates a slight increase in BlackRock’s influence within the company, which could have implications for the company’s governance and strategic direction.

The most recent analyst rating on (GB:SHC) stock is a Buy with a £165.00 price target. To see the full list of analyst forecasts on Shaftesbury Capital stock, see the GB:SHC Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Shaftesbury Capital Sees Increase in Major Shareholder Voting Rights
Neutral
Jul 4, 2025

Shaftesbury Capital PLC has announced a change in major holdings, with Public Investment Corporation SOC Limited, based in Pretoria, South Africa, increasing its voting rights in the company from 2.077% to 3.034%. This acquisition of voting rights signifies a notable shift in the company’s shareholder structure, potentially impacting its governance and strategic decisions.

The most recent analyst rating on (GB:SHC) stock is a Buy with a £165.00 price target. To see the full list of analyst forecasts on Shaftesbury Capital stock, see the GB:SHC Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
BlackRock Increases Stake in Shaftesbury Capital
Neutral
Jun 17, 2025

Shaftesbury Capital PLC, a UK-based company, has announced a change in its major holdings due to an acquisition or disposal of voting rights by BlackRock, Inc., a US-based investment management corporation. As of June 13, 2025, BlackRock’s total voting rights in Shaftesbury Capital increased to 5.82%, up from a previous 5.72%, indicating a slight shift in ownership stakes that could influence the company’s strategic decisions and shareholder dynamics.

The most recent analyst rating on (GB:SHC) stock is a Buy with a £165.00 price target. To see the full list of analyst forecasts on Shaftesbury Capital stock, see the GB:SHC Stock Forecast page.

DividendsBusiness Operations and Strategy
Shaftesbury Capital PLC Announces Dividend Impacting Bond Exchange Properties
Neutral
May 30, 2025

Shaftesbury Capital PLC has announced a final cash dividend of GBP 0.018 per share, impacting its secured exchangeable bonds due in 2026. The dividend has resulted in a capital distribution, leading to changes in the exchange property, which now includes additional cash and shares. This adjustment affects bondholders’ entitlements and reflects the company’s strategic financial management, potentially influencing its market positioning and stakeholder interests.

The most recent analyst rating on (GB:SHC) stock is a Buy with a £165.00 price target. To see the full list of analyst forecasts on Shaftesbury Capital stock, see the GB:SHC Stock Forecast page.

Executive/Board ChangesShareholder MeetingsStock BuybackBusiness Operations and Strategy
Shaftesbury Capital PLC Passes Key Resolutions at 2025 AGM
Neutral
May 22, 2025

Shaftesbury Capital PLC held its 2025 Annual General Meeting, where several resolutions were passed, including the approval of the Directors’ Remuneration Report and the re-election of multiple directors. The meeting also saw the re-appointment of PricewaterhouseCoopers LLP as the company’s auditor and the authorization for the company to purchase its own shares. These resolutions reflect the company’s ongoing governance and operational strategies, potentially impacting its market positioning and stakeholder relations by reinforcing trust and continuity in leadership.

The most recent analyst rating on (GB:SHC) stock is a Buy with a £165.00 price target. To see the full list of analyst forecasts on Shaftesbury Capital stock, see the GB:SHC Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
Shaftesbury Capital Reports Strong West End Leasing and Strategic Partnership
Positive
May 22, 2025

Shaftesbury Capital PLC reports strong demand and leasing activity in its West End portfolio, with occupancy and leasing 8% ahead of December 2024 ERV, and a 3% increase in annualized rent roll. The company has completed a £2.7 billion partnership with NBIM for the Covent Garden estate, enhancing financial flexibility and growth opportunities. With a robust balance sheet and significant liquidity, Shaftesbury Capital is well-positioned to capitalize on market opportunities, despite macroeconomic uncertainties, aiming for sustained income and value growth for shareholders.

The most recent analyst rating on (GB:SHC) stock is a Buy with a £165.00 price target. To see the full list of analyst forecasts on Shaftesbury Capital stock, see the GB:SHC Stock Forecast page.

Regulatory Filings and Compliance
Shaftesbury Capital Announces Change in Voting Rights
Neutral
May 21, 2025

Shaftesbury Capital PLC, a UK-based company, has announced a change in its voting rights structure following an acquisition or disposal by BlackRock, Inc., a major shareholder. The notification indicates that BlackRock’s total voting rights in Shaftesbury Capital have decreased slightly from 5.89% to 5.72%, which may impact the company’s shareholder dynamics and influence within the market.

The most recent analyst rating on (GB:SHC) stock is a Buy with a £165.00 price target. To see the full list of analyst forecasts on Shaftesbury Capital stock, see the GB:SHC Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 29, 2025