Shaftesbury Capital (LON:SHC) Trading Down 0.2% – Should You Sell?

Shaftesbury Capital PLC (LON:SHC)’s share price dropped 0.2% on Tuesday . The stock traded as low as GBX 140.04 ($1.83) and last traded at GBX 141.30 ($1.85). Approximately 4,078,531 shares were traded during trading, a decline of 7% from the average daily volume of 4,369,474 shares. The stock had previously closed at GBX 141.60 ($1.85).

Wall Street Analysts Forecast Growth

SHC has been the topic of several research analyst reports. Berenberg Bank upped their price objective on shares of Shaftesbury Capital from GBX 160 ($2.09) to GBX 174 ($2.28) and gave the stock a “buy” rating in a research note on Thursday, August 15th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 174 ($2.28) price objective on shares of Shaftesbury Capital in a research note on Thursday, August 1st. Finally, Citigroup reaffirmed a “buy” rating on shares of Shaftesbury Capital in a research note on Monday, July 8th.

Shaftesbury Capital Price Performance

The company’s 50 day moving average price is GBX 147.85 and its 200 day moving average price is GBX 143.77. The firm has a market capitalization of £2.76 billion, a P/E ratio of -3,532.50 and a beta of 1.15.

Shaftesbury Capital Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, August 22nd were paid a dividend of GBX 1.70 ($0.02) per share. This is a boost from Shaftesbury Capital’s previous dividend of $1.65. This represents a dividend yield of 1.12%. The ex-dividend date was Thursday, August 22nd. Shaftesbury Capital’s dividend payout ratio is -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.