Shaftesbury (SHB) Price Target Raised to GBX 965 at Canaccord Genuity

Shaftesbury (LON:SHB) had its price target increased by equities researchers at Canaccord Genuity from GBX 925 ($12.54) to GBX 965 ($13.09) in a report released on Friday, December 22nd. The firm currently has a “hold” rating on the real estate investment trust’s stock. Canaccord Genuity’s price target suggests a potential downside of 4.93% from the stock’s previous close.

A number of other equities analysts have also issued reports on SHB. Liberum Capital reaffirmed a “hold” rating and set a GBX 1,025 ($13.90) target price on shares of Shaftesbury in a research report on Friday, September 1st. Numis Securities reaffirmed a “hold” rating and set a GBX 974 ($13.21) target price on shares of Shaftesbury in a research report on Monday, September 25th. Goldman Sachs Group reissued a “sell” rating and issued a GBX 883 ($11.97) price target on shares of Shaftesbury in a report on Wednesday, September 27th. Peel Hunt boosted their price target on shares of Shaftesbury from GBX 875 ($11.87) to GBX 970 ($13.15) and gave the company a “reduce” rating in a report on Tuesday, November 28th. Finally, Jefferies Group reissued a “hold” rating and issued a GBX 1,003 ($13.60) price target on shares of Shaftesbury in a report on Wednesday, November 29th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Shaftesbury has an average rating of “Hold” and an average target price of GBX 987.60 ($13.39).

Shaftesbury (LON SHB) opened at GBX 1,015 ($13.76) on Friday. Shaftesbury has a 52-week low of GBX 863.50 ($11.71) and a 52-week high of GBX 1,055 ($14.31). The company has a market cap of $3,130.00 and a P/E ratio of 939.81.

Shaftesbury (LON:SHB) last released its quarterly earnings results on Tuesday, November 28th. The real estate investment trust reported GBX 16.20 ($0.22) EPS for the quarter, missing the Zacks’ consensus estimate of GBX 16.30 ($0.22) by GBX (0.10) ($0.00). Shaftesbury had a net margin of 351.94% and a return on equity of 15.53%. The firm had revenue of £111.50 million during the quarter.

In other news, insider Jill C. Little acquired 2,997 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was purchased at an average cost of GBX 993 ($13.47) per share, with a total value of £29,760.21 ($40,358.30). Also, insider Simon J. Quayle sold 18,430 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of GBX 1,000 ($13.56), for a total value of £184,300 ($249,932.19).

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About Shaftesbury

Shaftesbury PLC is a real estate investment trust. The Company’s objective is to deliver long-term growth in rental income, capital values and shareholder returns. It focuses on retails, restaurants, cafes and leisure. It has approximately 590 shops, restaurants, cafes and bars. Its upper floors consist of over 406,000 square feet of office space and over 560 apartments.

Analyst Recommendations for Shaftesbury (LON:SHB)

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