Shaftesbury (SHB) Reaches New 1-Year Low on Insider Selling

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Shaftesbury plc (LON:SHB) shares reached a new 52-week low during mid-day trading on Thursday following insider selling activity. The company traded as low as GBX 852.50 ($11.14) and last traded at GBX 867.50 ($11.34), with a volume of 259241 shares traded. The stock had previously closed at GBX 879 ($11.49).

Specifically, insider Brian Bickell sold 20,016 shares of the company’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of GBX 870 ($11.37), for a total value of £174,139.20 ($227,543.71).

SHB has been the subject of a number of analyst reports. UBS Group reaffirmed a “neutral” rating and issued a GBX 1,000 ($13.07) price target (down previously from GBX 1,040 ($13.59)) on shares of Shaftesbury in a report on Wednesday, September 5th. Peel Hunt reaffirmed a “reduce” rating on shares of Shaftesbury in a report on Friday, September 28th. Liberum Capital reaffirmed a “hold” rating on shares of Shaftesbury in a report on Friday, September 28th. Numis Securities reaffirmed a “hold” rating and issued a GBX 1,028 ($13.43) price target on shares of Shaftesbury in a report on Tuesday, November 27th. Finally, Morgan Stanley reduced their price target on Shaftesbury from GBX 920 ($12.02) to GBX 880 ($11.50) and set an “underweight” rating for the company in a report on Thursday, November 29th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Shaftesbury has an average rating of “Hold” and a consensus target price of GBX 985.55 ($12.88).

Shaftesbury (LON:SHB) last posted its quarterly earnings data on Tuesday, November 27th. The real estate investment trust reported GBX 17.10 ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of GBX 17.60 ($0.23) by GBX (0.50) (($0.01)).

The company also recently disclosed a dividend, which will be paid on Friday, February 15th. Shareholders of record on Thursday, January 17th will be paid a dividend of GBX 8.50 ($0.11) per share. This is a positive change from Shaftesbury’s previous dividend of $8.30. This represents a yield of 0.92%. The ex-dividend date is Thursday, January 17th.

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About Shaftesbury (LON:SHB)

Shaftesbury is a Real Estate Investment Trust, which invests exclusively in the liveliest parts of London's West End. Our objective is to deliver long-term growth in rental income, capital values and shareholder returns. Focussed on restaurants, leisure and retail, our exceptional portfolio now extends to 14.9 acres, clustered mainly in Carnaby, Seven Dials and Chinatown, with substantial ownerships in east and west Covent Garden, Soho and Fitzrovia.

See Also: Tariff

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