Shaftesbury (SHB) Posts Earnings Results, Misses Expectations By $0.60 EPS

Shaftesbury (LON:SHB) issued its quarterly earnings results on Tuesday. The real estate investment trust reported GBX 8.40 ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of GBX 9 ($0.12) by GBX (0.60) (($0.01)), Bloomberg Earnings reports. Shaftesbury had a return on equity of 15.53% and a net margin of 351.94%.

Shaftesbury opened at GBX 966 ($12.96) on Wednesday, MarketBeat reports. Shaftesbury has a 1 year low of GBX 894.50 ($12.00) and a 1 year high of GBX 1,055 ($14.16).

The business also recently disclosed a dividend, which will be paid on Friday, July 6th. Investors of record on Thursday, June 14th will be given a dividend of GBX 8.30 ($0.11) per share. This represents a yield of 0.84%. This is a boost from Shaftesbury’s previous dividend of $8.10. The ex-dividend date of this dividend is Thursday, June 14th.

A number of brokerages have recently weighed in on SHB. Peel Hunt reaffirmed a “reduce” rating on shares of Shaftesbury in a report on Tuesday. Liberum Capital reaffirmed a “hold” rating on shares of Shaftesbury in a report on Tuesday. Credit Suisse Group downgraded shares of Shaftesbury to an “underperform” rating and upped their price target for the stock from GBX 810 ($10.87) to GBX 860 ($11.54) in a report on Friday, May 4th. Goldman Sachs cut their price target on shares of Shaftesbury from GBX 890 ($11.94) to GBX 835 ($11.20) and set a “sell” rating for the company in a report on Wednesday, March 14th. Finally, Morgan Stanley upped their price target on shares of Shaftesbury from GBX 880 ($11.81) to GBX 970 ($13.01) and gave the stock an “underweight” rating in a report on Tuesday, March 13th. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Shaftesbury currently has a consensus rating of “Hold” and a consensus target price of GBX 976.70 ($13.10).

Shaftesbury Company Profile

We invest in real estate in London's West End, a location that has many unique features which bring prosperity, resilience and opportunity to the local economy. We focus on central locations close to a renowned concentration of world-class attractions which, together with unmatched shopping and leisure choices, attract huge numbers of domestic and overseas visitors.

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