Shaftesbury Capital (LON:SHC) Posts Earnings Results

Shaftesbury Capital (LON:SHC) issued its quarterly earnings results on Wednesday. The company reported GBX 4.50 earnings per share for the quarter, Digital Look Earnings reports. Shaftesbury Capital had a net margin of 16.37% and a return on equity of 1.07%.

Here are the key takeaways from Shaftesbury Capital’s conference call:

• Strong FY25 results: portfolio valuation rose 6.6% to £5.4bn, ERV +6.2%, rental income +6%, underlying earnings +12% to £81.9m, and the total dividend was increased 14% to 4p.
• Balance sheet and liquidity strengthened: net debt reduced from £1.4bn to £0.8bn (LTV 17%), new £300m Covent Garden facility, extended undrawn facilities to 2029/2030 and a SONIA cap on £300m, positioning the group to deploy capital.
• Operating momentum across the West End: vacancy just 2.6%, 434 leasing transactions (~£40m contracted rent) achieved ~10% ahead of ERV and 14% above prior passing rents, with retail valuation growth (c.10.4%) and strong footfall supporting further upside.
• Refinancing exposure: ~£275m exchangeable bonds mature March 2026 and ~£400m of debt requires refinancing/repayment this year; management expects finance costs to be broadly flat but refinancing and rate moves present execution risk.
• Partnership and outlook: a long-term joint arrangement with Norges Bank on Covent Garden provides capital and optionality, and the company is targeting 5–7% rental growth and 7–10% total returns while avoiding formal forward guidance.

Shaftesbury Capital Stock Up 0.1%

SHC opened at GBX 152 on Thursday. The stock’s fifty day moving average is GBX 144.74 and its two-hundred day moving average is GBX 143.46. The company has a market capitalization of £2.77 billion, a P/E ratio of 8.74 and a beta of 1.15. Shaftesbury Capital has a 52 week low of GBX 111.60 and a 52 week high of GBX 162.90.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SHC shares. Peel Hunt restated a “buy” rating and issued a GBX 190 price objective on shares of Shaftesbury Capital in a research report on Wednesday, December 3rd. Berenberg Bank raised their target price on shares of Shaftesbury Capital from GBX 151 to GBX 153 and gave the company a “hold” rating in a report on Monday, January 26th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Shaftesbury Capital has a consensus rating of “Moderate Buy” and a consensus price target of GBX 184.50.

Shaftesbury Capital Company Profile

Shaftesbury Capital PLC (“Shaftesbury Capital”) is the leading central London mixed-use REIT and is a constituent of the FTSE-250 Index.

Our property portfolio under management, valued at £5.2 billion, extends to 2.7 million square feet of lettable space across the most vibrant areas of London’s West End. With a diverse mix of shops, restaurants, cafés, bars, residential apartments and offices, our destinations include the high footfall, thriving neighbourhoods of Covent Garden, Carnaby, Soho and Chinatown.