Shaftesbury Capital (LON:SHC) Shares Down 0.9%

Shaftesbury Capital PLC (LON:SHC)’s share price dropped 0.9% during mid-day trading on Friday . The stock traded as low as GBX 148.40 ($1.95) and last traded at GBX 149.70 ($1.97). Approximately 1,909,234 shares traded hands during trading, a decline of 53% from the average daily volume of 4,070,483 shares. The stock had previously closed at GBX 151 ($1.99).

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup reaffirmed a “buy” rating on shares of Shaftesbury Capital in a report on Monday, July 8th. Berenberg Bank lifted their target price on shares of Shaftesbury Capital from GBX 160 ($2.10) to GBX 174 ($2.29) and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 174 ($2.29) target price on shares of Shaftesbury Capital in a report on Thursday, August 1st.

Shaftesbury Capital Price Performance

The company has a market cap of £2.92 billion, a price-to-earnings ratio of -3,742.50 and a beta of 1.15. The business’s 50-day simple moving average is GBX 146.65 and its 200-day simple moving average is GBX 140.70.

Shaftesbury Capital Increases Dividend

The business also recently declared a dividend, which will be paid on Tuesday, October 1st. Investors of record on Thursday, August 22nd will be issued a GBX 1.70 ($0.02) dividend. The ex-dividend date is Thursday, August 22nd. This is a boost from Shaftesbury Capital’s previous dividend of $1.65. This represents a yield of 1.12%. Shaftesbury Capital’s dividend payout ratio is currently -7,500.00%.

About Shaftesbury Capital

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 £4.8 billion at December 2023, extends to 2.9 million square feet of lettable space across the most vibrant areas of London's West End.