How does TOWNL's PS Ratio compare to its peers?

TOWNL is good value based on its Price-To-Sales Ratio (1.8x) compared to the peer average (5.7x).

How does TOWNL's PS Ratio compare vs other companies in the GB REITs Industry?

TOWNL is good value based on its Price-To-Sales Ratio (1.8x) compared to the UK REITs industry average (6.6x).

What is TOWNL's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

Insufficient data to calculate TOWNL's Price-To-Sales Fair Ratio for valuation analysis.

What is the Fair Price of TOWNL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

TOWNL (£1.38) is trading above our estimate of [[fair value]] (£0.45)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine [[statistical confidence]] in agreement.

TOWNL Stock Overview

Town Centre Securities PLC (the "Company") is a public limited company domiciled in the United Kingdom. More details

TOWNL fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	3/6
Past Performance	0/6
Financial Health	1/6
Dividends	3/6

Rewards

Earnings are forecast to grow 92.19% per year

Risk Analysis

Interest payments are not well covered by earnings

Shares are highly illiquid

Unstable dividend track record

Does not have a meaningful market cap (£55M)

My Notes

Capture your thoughts, links and company narrative

Town Centre Securities Plc Competitors

Alternative Income REIT

LSE:AIRE

UK£55.7m

Schroder European Real Estate Investment Trust

LSE:SERE

UK£84.9m

Real Estate Investors

AIM:RLE

UK£51.4m

abrdn Property Income Trust

LSE:API

UK£26.2m

Price History & Performance

Summary of share price highs, lows and changes for Town Centre Securities
Historical stock prices
Current Share Price	UK£1.38
52 Week High	UK£1.42
52 Week Low	UK£1.25
Beta	1.04
1 Month Change	7.81%
3 Month Change	n/a
1 Year Change	n/a
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-2.13%

Recent updates

Shareholder Returns

	TOWNL	GB REITs	GB Market
7D	0%	0.8%	0.6%
1Y	n/a	-12.4%	2.7%

Return vs Industry: Insufficient data to determine how TOWNL performed against the UK REITs industry.

Return vs Market: Insufficient data to determine how TOWNL performed against the UK Market.

Price Volatility

Is TOWNL's price volatile compared to industry and market?
TOWNL volatility
TOWNL Average Weekly Movement	n/a
REITs Industry Average Movement	3.0%
Market Average Movement	4.7%
10% most volatile stocks in GB Market	10.4%
10% least volatile stocks in GB Market	2.6%

Stable Share Price: TOWNL has not had significant price volatility in the past 3 months.

Volatility Over Time: Insufficient data to determine TOWNL's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
1959	129	Edward Ziff	www.tcs-plc.co.uk

TCS has a high quality portfolio around the UK comprising over 2.5m sq ft of prime commercial, residential, car parking, office, leisure & retail accommodation. This is in additon to our development pipeline which has an estimated GDV of over £600m. With over 60 years’ experience, a commitment to sustainable development and a reputation for quality & innovation, TCS create outstanding mixed use developments close to transport hubs in Leeds, Manchester, Glasgow and London.

Town Centre Securities Plc Fundamentals Summary

How do Town Centre Securities's earnings and revenue compare to its market cap?
TOWNL fundamental statistics
Market cap	UK£54.98m
Earnings (TTM)	-UK£29.49m
Revenue (TTM)	UK£30.36m

1.8x

P/S Ratio

-1.9x

P/E Ratio

Is TOWNL overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
TOWNL income statement (TTM)
Revenue	UK£30.36m
Cost of Revenue	UK£15.55m
Gross Profit	UK£14.81m
Other Expenses	UK£44.30m
Earnings	-UK£29.49m

Last Reported Earnings

Jun 30, 2023

Next Earnings Date

n/a

Earnings per share (EPS)	-0.70
Gross Margin	48.78%
Net Profit Margin	-97.13%
Debt/Equity Ratio	88.7%

How did TOWNL perform over the long term?

See historical performance and comparison

Dividends

3.8%

Current Dividend Yield

30%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/01/23 06:15
End of Day Share Price	2023/12/28 00:00
Earnings	2023/06/30
Annual Earnings	2023/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Town Centre Securities Plc is covered by 2 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Bjorn Zietsman	Panmure Liberum
Matthew Saperia	Peel Hunt LLP