Town Centre Securities (TOWN)

Sector:

Property Investment Trusts

Index:

FTSE Fledgling

87.00p
   
  • Change Today:
    -0.50p
  • 52 Week High: 232.00
  • 52 Week Low: 81.50
  • Currency: UK Pounds
  • Shares Issued: 53.07m
  • Volume: 20,423
  • Market Cap: £46.17m

Sector movers: British Land drags REIT sector lower after placing plans

Date: Tuesday 12 Mar 2013

LONDON (ShareCast) - The real estate investment trust (REIT) category was the worst performer of Tuesday’s session as a sharp fall for heavyweight property group British Land weighed on the sector.

The company revealed this morning that it has disposed of Ropemaker Place in London for £472m and would be undergoing a placing to raise around £500m to fund attractive investment opportunities.

However, shares were down 2.84% at 564p by the afternoon on concerns about the dilutive impact on the stock from the placing.

Analysts at Jefferies said today that the placing and disposal now give British Land around £1.0bn of leveraged firepower it needs and “equitizing” real estate is what REITs should do.

However, the firm “now has execution risk, which is likely to subdue the shares until income is bought”, they said.

Furthermore, the broker added that as share prices tighten across the REIT sector, we could see further equity calls from other companies. “Historically, this type of activity has marked the top of the capital cycle.”

Sector peers Hammerson, Primary Health Properties, Great Portland Estates, Warner Estate Holdings and Town Centre Securities were also firmly out of favour on Tuesday.


Top performing sectors so far today
Industrial Metals & Mining 2,703.76 +2.22%
Forestry & Paper 9,591.89 +1.19%
Health Care Equipment & Services 4,145.42 +1.17%
Oil Equipment, Services & Distribution 24,878.65 +1.15%
Mining 19,671.30 +1.06%

Bottom performing sectors so far today
Real Estate Investment Trusts 2,256.99 -1.17%
Household Goods & Home Construction 9,788.27 -0.44%
Real Estate Investment & Services 2,115.92 -0.22%
Personal Goods 22,488.87 -0.16%
General Retailers 2,080.92 -0.15%

BC

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

TOWN Market Data

Currency UK Pounds
Share Price 87.00p
Change Today -0.50p
% Change -0.57 %
52 Week High 232.00
52 Week Low 81.50
Volume 20,423
Shares Issued 53.07m
Market Cap £46.17m

TOWN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
57.81% above the market average57.81% above the market average57.81% above the market average57.81% above the market average57.81% above the market average
22.22% above the sector average22.22% above the sector average22.22% above the sector average22.22% above the sector average22.22% above the sector average
Price Trend
89.6% below the market average89.6% below the market average89.6% below the market average89.6% below the market average89.6% below the market average
94.74% below the sector average94.74% below the sector average94.74% below the sector average94.74% below the sector average94.74% below the sector average
Income
27.57% above the market average27.57% above the market average27.57% above the market average27.57% above the market average27.57% above the market average
25% below the sector average25% below the sector average25% below the sector average25% below the sector average25% below the sector average
Growth
74.76% below the market average74.76% below the market average74.76% below the market average74.76% below the market average74.76% below the market average
88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

TOWN Dividends

  Latest Previous
  Final Interim
Ex-Div 03-Dec-20 28-May-20
Paid 05-Jan-21 26-Jun-20
Amount 1.75p 3.25p

Trades for 23-Oct-2020

Time Volume / Share Price
15:28 1,590 @ 85.66p
13:51 5,621 @ 88.34p

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