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

Town Centre Securities on track

By Michael Millar

Date: Tuesday 17 May 2011

LONDON (ShareCast) - Town Centre Securities (TCS), the Leeds-based property investment and development company, said it was on track to meet expectations despite tough conditions on the high street.

However, the firm acknowledged the tenant market remained challenging and was closely monitoring tenants' performance.

TCS also said it continued to look for opportunities to grow its property portfolio and car parking business, but without success.

The firm said its principal achievement in the period to 16th May had been lettings at Urban Exchange in Manchester.

Marks & Spencer has entered into an agreement to lease 19,000 sq ft for an outlet store and Pure Gym (a 24 hour gym operator) has entered into an agreement to lease 19,000 sq ft, TCS said.

It has only one unit left unoccupied and hopes it will be let before the end of the calendar year.

The company said its vacancy rates stood at 2.97%, which was the lowest level in TCS's recent history and had fallen from 4.6% at 31 December 2010.

As of 16 May 2011, the company had net debt of £138.9m, down from £144.6m on 31 December 2010.

This comprised £106m of 5.375% debenture stock repayable in 2031, and £32.9m of bank loans.

TCS chairman,Edward Ziff, said the performance demonstrated the firm’s strong asset management capabilities and the importance of retaining a focus on the value for money retail sector.

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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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