Shaftesbury Capital (LON:SHC) Releases Earnings Results

Shaftesbury Capital (LON:SHC) announced its earnings results on Wednesday. The company reported GBX 4.50 EPS 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 Price Performance

LON:SHC traded up GBX 4.70 during trading hours on Wednesday, reaching GBX 151.90. The company had a trading volume of 6,281,149 shares, compared to its average volume of 12,939,905. Shaftesbury Capital has a 1-year low of GBX 111.60 and a 1-year high of GBX 162.90. The business’s 50 day moving average price is GBX 144.46 and its 200-day moving average price is GBX 143.40. The firm has a market cap of £2.77 billion, a PE ratio of 8.73 and a beta of 1.15.

Analyst Upgrades and Downgrades

SHC has been the subject of a number of research analyst reports. Peel Hunt restated a “buy” rating and set a GBX 190 price objective on shares of Shaftesbury Capital in a report on Wednesday, December 3rd. Jefferies Financial Group lifted their price target on Shaftesbury Capital from GBX 181 to GBX 185 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Finally, Berenberg Bank increased their price objective on Shaftesbury Capital from GBX 151 to GBX 153 and gave the stock a “hold” rating in a research report on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.