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Shaftesbury

BATS-CHIXE:SHBL
Snowflake Description

Reasonable growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SHBL
BATS-CHIXE
£2B
Market Cap
  1. Home
  2. GB
  3. Real Estate
Company description

Shaftesbury is a Real Estate Investment Trust which owns a portfolio extending to 15.2 acres in the heart of London's West End. The last earnings update was 107 days ago. More info.


Add to Portfolio Compare Print
  • Shaftesbury has significant price volatility in the past 3 months.
SHBL Share Price and Events
7 Day Returns
-7.2%
BATS-CHIXE:SHBL
-4.2%
GB REITs
-2.2%
GB Market
1 Year Returns
-33.5%
BATS-CHIXE:SHBL
-24.4%
GB REITs
-25.9%
GB Market
SHBL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Shaftesbury (SHBL) -7.2% -27.7% -38.2% -33.5% -36.9% -33.4%
GB REITs -4.2% -26.5% -32.1% -24.4% -23.4% -30%
GB Market -2.2% -21.7% -29.6% -25.9% -26.6% -26.2%
1 Year Return vs Industry and Market
  • SHBL underperformed the REITs industry which returned -24.4% over the past year.
  • SHBL underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -25.9% over the past year.
Price Volatility
SHBL
Industry
5yr Volatility vs Market

SHBL Value

 Is Shaftesbury undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Shaftesbury to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Shaftesbury.

BATS-CHIXE:SHBL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.4%
Perpetual Growth Rate 10-Year GB Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BATS-CHIXE:SHBL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.1%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.45
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.45 (1 + (1- 19%) (52.34%))
0.759
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (0.8 * 6.07%)
5.39%

Discounted Cash Flow Calculation for BATS-CHIXE:SHBL using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

BATS-CHIXE:SHBL Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:SHBL represents 0.97717x of LSE:SHB
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.97717x
Value per Share
(Listing Adjusted, GBP)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 4.83 x 0.97717
£4.72
Value per share (GBP) From above. £4.72
Current discount Discount to share price of £5.78
= -1 x (£5.78 - £4.72) / £4.72
-22.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Shaftesbury is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Shaftesbury's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Shaftesbury's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:SHBL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in GBP £0.08
LSE:SHB Share Price ** LSE (2020-04-03) in GBP £5.92
United Kingdom of Great Britain and Northern Ireland REITs Industry PE Ratio Median Figure of 38 Publicly-Listed REITs Companies 12.58x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 12.32x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Shaftesbury.

BATS-CHIXE:SHBL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:SHB Share Price ÷ EPS (both in GBP)

= 5.92 ÷ 0.08

69.93x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shaftesbury is overvalued based on earnings compared to the GB REITs industry average.
  • Shaftesbury is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Shaftesbury's expected growth come at a high price?
Raw Data
BATS-CHIXE:SHBL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 69.93x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
44.1%per year
United Kingdom of Great Britain and Northern Ireland REITs Industry PEG Ratio Median Figure of 22 Publicly-Listed REITs Companies 0.67x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 518 Publicly-Listed Companies 0.97x

*Line of best fit is calculated by linear regression .

BATS-CHIXE:SHBL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 69.93x ÷ 44.1%

1.59x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shaftesbury is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Shaftesbury's assets?
Raw Data
BATS-CHIXE:SHBL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in GBP £9.80
LSE:SHB Share Price * LSE (2020-04-03) in GBP £5.92
United Kingdom of Great Britain and Northern Ireland REITs Industry PB Ratio Median Figure of 54 Publicly-Listed REITs Companies 0.73x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.06x
BATS-CHIXE:SHBL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:SHB Share Price ÷ Book Value per Share (both in GBP)

= 5.92 ÷ 9.80

0.6x

* Primary Listing of Shaftesbury.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shaftesbury is good value based on assets compared to the GB REITs industry average.
X
Value checks
We assess Shaftesbury's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Shaftesbury has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

SHBL Future Performance

 How is Shaftesbury expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
44.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Shaftesbury expected to grow at an attractive rate?
  • Shaftesbury's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Shaftesbury's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Shaftesbury's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:SHBL Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:SHBL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 44.1%
BATS-CHIXE:SHBL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 6.1%
United Kingdom of Great Britain and Northern Ireland REITs Industry Earnings Growth Rate Market Cap Weighted Average 24.1%
United Kingdom of Great Britain and Northern Ireland REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.4%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BATS-CHIXE:SHBL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BATS-CHIXE:SHBL Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-09-30 147 89 106 3
2021-09-30 140 80 92 4
2020-09-30 119 80 40 4
2020-04-04
BATS-CHIXE:SHBL Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-09-30 127 51 26
2019-06-30 126 52 58
2019-03-31 125 54 91
2018-12-31 124 50 133
2018-09-30 122 46 176
2018-06-30 120 46 249
2018-03-31 118 45 323
2017-12-31 115 45 312
2017-09-30 112 44 302
2017-06-30 110 42 212
2017-03-31 108 41 121
2016-12-31 107 41 110

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Shaftesbury's earnings are expected to grow significantly at over 20% yearly.
  • Shaftesbury's revenue is expected to grow by 6.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BATS-CHIXE:SHBL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Shaftesbury Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:SHBL Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-09-30 0.36 0.59 0.19 3.00
2021-09-30 0.29 0.42 0.16 2.00
2020-09-30 -0.01 0.16 -0.17 2.00
2020-04-04
BATS-CHIXE:SHBL Past Financials Data
Date (Data in GBP Millions) EPS *
2019-09-30 0.08
2019-06-30 0.19
2019-03-31 0.29
2018-12-31 0.44
2018-09-30 0.58
2018-06-30 0.84
2018-03-31 1.12
2017-12-31 1.10
2017-09-30 1.08
2017-06-30 0.76
2017-03-31 0.44
2016-12-31 0.40

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Shaftesbury is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Shaftesbury's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Shaftesbury has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

SHBL Past Performance

  How has Shaftesbury performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Shaftesbury's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Shaftesbury's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Shaftesbury's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Shaftesbury's 1-year earnings growth is negative, it can't be compared to the GB REITs industry average.
Earnings and Revenue History
Shaftesbury's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Shaftesbury Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:SHBL Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 126.90 26.00 19.10
2019-06-30 126.00 58.25 18.80
2019-03-31 125.10 90.50 18.50
2018-12-31 123.60 133.00 18.00
2018-09-30 122.10 175.50 17.50
2018-06-30 119.80 249.20 17.65
2018-03-31 117.50 322.90 17.80
2017-12-31 114.50 312.25 17.25
2017-09-30 111.50 301.60 16.70
2017-06-30 109.60 211.50 16.65
2017-03-31 107.70 121.40 16.60
2016-12-31 106.95 110.25 16.45
2016-09-30 106.20 99.10 16.30
2016-06-30 104.95 233.15 16.10
2016-03-31 103.70 367.20 15.90
2015-12-31 101.20 417.25 15.85
2015-09-30 98.70 467.30 15.80
2015-06-30 96.60 484.80 15.80
2015-03-31 94.50 502.30 15.80
2014-12-31 92.85 471.35 15.50
2014-09-30 91.20 440.40 15.20
2014-06-30 92.45 358.60 14.55
2014-03-31 90.10 276.80 13.70
2013-12-31 89.85 258.05 13.20
2013-09-30 89.60 239.30 12.70
2013-06-30 88.75 187.65 12.10

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Shaftesbury has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Shaftesbury used its assets less efficiently than the GB REITs industry average last year based on Return on Assets.
  • Shaftesbury's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Shaftesbury's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Shaftesbury has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

SHBL Health

 How is Shaftesbury's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Shaftesbury's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Shaftesbury is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Shaftesbury's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Shaftesbury's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Shaftesbury Company Filings, last reported 6 months ago.

BATS-CHIXE:SHBL Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 3,007.20 949.80 54.00
2019-06-30 3,007.20 949.80 54.00
2019-03-31 3,045.80 949.20 110.80
2018-12-31 3,045.80 949.20 110.80
2018-09-30 3,033.00 948.60 118.50
2018-06-30 3,033.00 948.60 118.50
2018-03-31 3,006.30 948.00 180.70
2017-12-31 3,006.30 948.00 180.70
2017-09-30 2,646.90 948.80 45.60
2017-06-30 2,646.90 948.80 45.60
2017-03-31 2,468.90 895.90 10.30
2016-12-31 2,468.90 895.90 10.30
2016-09-30 2,387.10 875.40 15.60
2016-06-30 2,387.10 875.40 15.60
2016-03-31 2,387.10 780.90 7.20
2015-12-31 2,387.10 780.90 7.20
2015-09-30 2,325.40 719.50 7.70
2015-06-30 2,325.40 719.50 7.70
2015-03-31 2,056.10 710.30 8.20
2014-12-31 2,056.10 710.30 8.20
2014-09-30 1,893.20 632.50 3.40
2014-06-30 1,893.20 691.80 7.70
2014-03-31 1,587.70 623.80 6.40
2013-12-31 1,587.70 623.80 6.40
2013-09-30 1,330.70 700.90 5.70
2013-06-30 1,330.70 700.90 5.70
  • Shaftesbury's level of debt (31.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (33.4% vs 31.6% today).
  • Debt is not well covered by operating cash flow (5.3%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Shaftesbury's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Shaftesbury has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

SHBL Dividends

 What is Shaftesbury's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.04%
Current annual income from Shaftesbury dividends. Estimated to be 2.79% next year.
If you bought £2,000 of Shaftesbury shares you are expected to receive £61 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Shaftesbury's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.66%).
  • Shaftesbury's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (7.42%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BATS-CHIXE:SHBL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland REITs Industry Average Dividend Yield Market Cap Weighted Average of 48 Stocks 5.4%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 595 Stocks 5.7%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.3%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.7%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 7.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BATS-CHIXE:SHBL Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2022-09-30 0.18 11.00
2021-09-30 0.17 12.00
2020-09-30 0.14 12.00
2020-04-04
BATS-CHIXE:SHBL Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-12-19 0.180 2.229
2019-11-26 0.180 1.942
2019-05-21 0.174 2.044
2018-12-19 0.170 1.966
2018-11-27 0.170 1.945
2018-05-22 0.166 1.808
2017-12-14 0.162 1.636
2017-05-23 0.158 1.600
2016-12-16 0.151 1.649
2016-11-29 0.151 1.681
2016-05-25 0.143 1.542
2015-12-17 0.139 1.563
2015-11-24 0.139 1.509
2015-05-21 0.137 1.509
2014-12-22 0.132 1.612
2014-11-27 0.132 1.692
2014-05-20 0.130 1.913
2013-12-19 0.125 1.936
2013-05-22 0.125 2.056
2012-12-20 0.121 2.063
2012-11-29 0.121 2.177
2012-05-23 0.119 2.252
2012-05-21 0.119 2.293
2012-01-30 0.115 2.276
2011-11-30 0.115 2.389
2011-05-25 0.110 2.217
2010-11-30 0.103 2.196
2010-01-13 0.123 3.083
2009-12-01 0.123 3.201
2009-05-19 0.150 4.264

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Shaftesbury's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess Shaftesbury's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Shaftesbury afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Shaftesbury has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

SHBL Management

 What is the CEO of Shaftesbury's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Brian Bickell
COMPENSATION £1,083,000
AGE 65
TENURE AS CEO 8.5 years
CEO Bio

Mr. Brian Bickell, FCA serves as Director at Shaftesbury Chinatown PLC. He is Director of Shaftesbury Carnaby PLC. He has been the Chief Executive Officer of Shaftesbury Plc since October 1, 2011 and its Executive Director since July 20, 1987. Mr. Bickell joined Shaftesbury in 1986 and was appointed Finance Director in July 1987. He served as Head of Investor Relations at Shaftesbury Plc. As Finance Director at Shaftesbury for 24 years prior to his appointment as CEO, he brings substantial financial, strategic and leadership experience to the responsibility of implementing the Group’s day-to-day operations. He serves as a Director of Longmartin Properties Limited. He serves as a Board member of Westminster Property Association. He serves as the Chairman of UK China Visa Alliance. He serves as a Board member of Freehold.

CEO Compensation
  • Brian's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Brian's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Shaftesbury management team in years:

2.4
Average Tenure
59.5
Average Age
  • The tenure for the Shaftesbury management team is about average.
Management Team

Brian Bickell

TITLE
CEO & Executive Director
COMPENSATION
£1M
AGE
65
TENURE
8.5 yrs

Chris Ward

TITLE
Finance Director & Executive Director
COMPENSATION
£793K
AGE
51
TENURE
8.3 yrs

Tom Chisnell Welton

TITLE
Property Director & Executive Director
COMPENSATION
£794K
AGE
58

Simon Quayle

TITLE
Property Director & Executive Director
COMPENSATION
£806K
AGE
61

Karen Baines

TITLE
Head of Group Marketing & Communications

Shelley Webb

TITLE
Head of Residential
TENURE
4.3 yrs

Sam Bain-Mollison

TITLE
Head of Retail
TENURE
2.4 yrs

Lydia Clarkson

TITLE
Head of Public Realm
TENURE
2.2 yrs

Stefanie Doede

TITLE
Group Financial Controller
TENURE
2.3 yrs

Desna Martin

TITLE
Interim Company Secretary
TENURE
0.2 yrs
Board of Directors Tenure

Average tenure and age of the Shaftesbury board of directors in years:

7.5
Average Tenure
60
Average Age
  • The tenure for the Shaftesbury board of directors is about average.
Board of Directors

Jonathan Nicholls

TITLE
Non-Executive Chairman
COMPENSATION
£225K
AGE
61
TENURE
3.5 yrs

Brian Bickell

TITLE
CEO & Executive Director
COMPENSATION
£1M
AGE
65
TENURE
32.8 yrs

Chris Ward

TITLE
Finance Director & Executive Director
COMPENSATION
£793K
AGE
51
TENURE
8.3 yrs

Tom Chisnell Welton

TITLE
Property Director & Executive Director
COMPENSATION
£794K
AGE
58
TENURE
22.5 yrs

Simon Quayle

TITLE
Property Director & Executive Director
COMPENSATION
£806K
AGE
61
TENURE
22.5 yrs

Sally Walden

TITLE
Independent Non-Executive Director
COMPENSATION
£67K
AGE
60
TENURE
7.5 yrs

Dermot Colin Mathias

TITLE
Independent Non-Executive Director
COMPENSATION
£67K
AGE
70
TENURE
7.5 yrs

Richard Akers

TITLE
Senior Independent Director
COMPENSATION
£63K
AGE
58
TENURE
1.3 yrs

Jennelle Tilling

TITLE
Non-Executive Director
COMPENSATION
£43K
AGE
50
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Shaftesbury individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
19. Mar 20 Buy Richard Akers Individual 18. Mar 20 18. Mar 20 3,000 £5.97 £17,895
02. Mar 20 Buy Jonathan Nicholls Individual 28. Feb 20 28. Feb 20 15,000 £7.97 £119,573
X
Management checks
We assess Shaftesbury's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Shaftesbury has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

SHBL News

Simply Wall St News

SHBL Company Info

Description

Shaftesbury is a Real Estate Investment Trust which owns a portfolio extending to 15.2 acres in the heart of London's West End. Shaftesbury focuses on restaurants, leisure and retail in highly popular, sought-after and prosperous locations mainly concentrated in Carnaby, Seven Dials and Chinatown, together with substantial ownerships in East and West Covent Garden, Soho and Fitzrovia. The portfolio comprises 608 shops, restaurants, cafés and pubs, extending to 1.1 million sq. ft., 0.4 million sq. ft. of offices and 610 apartments. All our properties are close to the main West End Underground stations, which currently handle c. 225m passengers p.a., and within ten minutes' walk of the two West End transport hubs for the Elizabeth Line, at Tottenham Court Road and Bond Street, which long-term projections indicate could be handling 200 million passengers annually. In addition, we have a 50% interest in the Longmartin joint venture, which has a long leasehold interest, extending to 1.9 acres, in St Martin's Courtyard in Covent Garden. Our proven management strategy is to create and foster distinctive, attractive and prosperous locations. We have an experienced management team focused on delivering our objective of long-term growth in rental income, capital values and shareholder returns. We have a strong balance sheet with conservative leverage.

Details
Name: Shaftesbury PLC
SHBL
Exchange: BATS-CHIXE
Founded: 1986
£1,814,730,842
306,801,495
Website: http://www.shaftesbury.co.uk
Address: Shaftesbury PLC
22 Ganton Street,
Carnaby,
London,
East Lothian, W1F 7FD,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE SHB Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
OTCPK SHAB.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB OVW Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
BATS-CHIXE SHBL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
Number of employees
Current staff
Staff numbers
34
Shaftesbury employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/04 20:23
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2019/12/19
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.