UK's Shaftesbury Capital H1 profit rises, lifts interim dividend
UK's Shaftesbury Capital H1 profit rises, lifts interim dividend
Overview
UK mixed-use REIT's H1 underlying EPS rose 8% yr/yr, net income also increased
Portfolio valuation up 3.4% like-for-like, driven by leasing and asset management
Interim dividend increased by 16% to 2.2p per share
Outlook
Company says West End market remains characterised by high occupancy and limited new supply
Shaftesbury Capital expects continued rental growth with a strong leasing pipeline
Company says it is well-positioned to pursue expansion and capitalise on market opportunities
Result Drivers
LEASING PREMIUMS - 226 leasing transactions completed 18% ahead of previous passing rents and 5% above December 2025 ERV, supporting portfolio valuation uplift
RETAIL AND F&B DEMAND - Retail and food & beverage leases and renewals transacted 27.3% ahead of previous passing rents, reflecting strong demand
COST EFFICIENCIES - Reduction in group cost ratio to 32% from 33% in 2025 supported underlying earnings growth
Company press release: ID:nRSc2574Oa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Adjusted EPS |
| GBP 0.02 |
|
H1 Net Income |
| GBP 193.80 mln |
|
H1 Basic EPS |
| GBP 0.11 |
|
H1 Dividend |
| GBP 0.02 |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy"
Wall Street's median 12-month price target for Shaftesbury Capital PLC is GBp170.50, about 16.8% above its July 28 closing price of GBp146.00
The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 25 three months ago
Reuters Recommended Reads
July 28 - UK's student housing firm Unite maintains outlook after H1 earnings dip; shares fall
July 28 - REIT BXP raises 2026 FFO forecast amid return-to-office push
July 28 - WP Carey Q2 revenue beats estimates on higher leases; AFFO outlook raised
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)