Shaftesbury Capital (LON:SHC) Announces Earnings Results

Shaftesbury Capital (LON:SHC) posted its quarterly earnings data on Wednesday. The company reported GBX 4.50 EPS for the quarter, Digital Look Earnings reports. Shaftesbury Capital had a return on equity of 1.07% and a net margin of 16.37%.

Here are the key takeaways from Shaftesbury Capital’s conference call:

• Strong FY25 results: portfolio valuation rose 6.6% to £5.4bn, ERV +6.2%, rental income +6%, underlying earnings +12% to £81.9m, and the total dividend was increased 14% to 4p.
• Balance sheet and liquidity strengthened: net debt reduced from £1.4bn to £0.8bn (LTV 17%), new £300m Covent Garden facility, extended undrawn facilities to 2029/2030 and a SONIA cap on £300m, positioning the group to deploy capital.
• Operating momentum across the West End: vacancy just 2.6%, 434 leasing transactions (~£40m contracted rent) achieved ~10% ahead of ERV and 14% above prior passing rents, with retail valuation growth (c.10.4%) and strong footfall supporting further upside.
• Refinancing exposure: ~£275m exchangeable bonds mature March 2026 and ~£400m of debt requires refinancing/repayment this year; management expects finance costs to be broadly flat but refinancing and rate moves present execution risk.
• Partnership and outlook: a long-term joint arrangement with Norges Bank on Covent Garden provides capital and optionality, and the company is targeting 5–7% rental growth and 7–10% total returns while avoiding formal forward guidance.

Shaftesbury Capital Stock Up 3.2%

LON SHC traded up GBX 4.70 during trading hours on Wednesday, reaching GBX 151.90. The company’s stock had a trading volume of 6,234,666 shares, compared to its average volume of 12,938,713. Shaftesbury Capital has a 1 year low of GBX 111.60 and a 1 year high of GBX 162.90. The company has a market capitalization of £2.77 billion, a price-to-earnings ratio of 8.73 and a beta of 1.15. The firm’s 50-day moving average price is GBX 144.46 and its 200-day moving average price is GBX 143.40.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SHC. Jefferies Financial Group increased their target price on shares of Shaftesbury Capital from GBX 181 to GBX 185 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Peel Hunt reiterated a “buy” rating and issued a GBX 190 price target on shares of Shaftesbury Capital in a research report on Wednesday, December 3rd. Finally, Berenberg Bank increased their price objective on shares of Shaftesbury Capital from GBX 151 to GBX 153 and gave the stock a “hold” rating in a research note on Monday, January 26th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 184.50.

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 under management, valued at £5.2 billion, extends to 2.7 million square feet of lettable space across the most vibrant areas of London’s West End. With a diverse mix of shops, restaurants, cafés, bars, residential apartments and offices, our destinations include the high footfall, thriving neighbourhoods of Covent Garden, Carnaby, Soho and Chinatown.