Shaftesbury Capital (LON:SHC) Raised to Buy at HSBC

HSBC upgraded shares of Shaftesbury Capital (LON:SHCFree Report) to a buy rating in a research report sent to investors on Thursday morning, Marketbeat reports. The brokerage currently has GBX 149 ($1.90) price objective on the stock.

Separately, Berenberg Bank reissued a buy rating and issued a GBX 160 ($2.04) price target on shares of Shaftesbury Capital in a research note on Tuesday, March 5th.

Get Our Latest Stock Analysis on SHC

Shaftesbury Capital Trading Down 0.2 %

Shares of SHC stock opened at GBX 141.50 ($1.80) on Thursday. Shaftesbury Capital has a 12-month low of GBX 101.90 ($1.30) and a 12-month high of GBX 142.70 ($1.82). The business’s 50 day moving average is GBX 130.72 and its two-hundred day moving average is GBX 123.94. The company has a market capitalization of £2.76 billion, a P/E ratio of 314.44 and a beta of 1.11.

Shaftesbury Capital Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 31st. Investors of record on Thursday, April 25th will be issued a GBX 1.65 ($0.02) dividend. This represents a yield of 1.36%. This is a boost from Shaftesbury Capital’s previous dividend of $1.50. The ex-dividend date is Thursday, April 25th. Shaftesbury Capital’s payout ratio is presently 666.67%.

Insider Transactions at Shaftesbury Capital

In other Shaftesbury Capital news, insider Ian Hawksworth bought 88,888 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was acquired at an average price of GBX 124 ($1.58) per share, with a total value of £110,221.12 ($140,319.69). Corporate insiders own 3.52% of the company’s stock.

About Shaftesbury Capital

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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, valued at £4.9 billion at June 2023, extends to 2.9 million square feet of lettable space across the most vibrant areas of London's West End.

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