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TOWN

Town Centre SecuritiesLSE:TOWN Stock Report

Market Cap

UK£68.6m

7D

-3.5%

1Y

12.8%

Updated

30 Nov, 2021

Data

Company Financials +
TOWN fundamental analysis
Snowflake Score
Valuation1/6
Future Growth1/6
Past Performance0/6
Financial Health0/6
Dividends2/6

TOWN Stock Overview

Town Centre Securities PLC (TCS) is a leading UK property investment & development company with property assets of over £394 million.

Town Centre Securities Competitors

UK Commercial Property REIT

LSE:UKCM

UK£990.2m

BMO Commercial Property Trust

LSE:BCPT

UK£769.4m

Picton Property Income

LSE:PCTN

UK£544.5m

Standard Life Investments Property Income Trust

LSE:SLI

UK£296.1m

Price History & Performance

Summary of all time highs, changes and price drops for Town Centre Securities
Historical stock prices
Current Share PriceUK£1.30
52 Week HighUK£1.50
52 Week LowUK£0.93
Beta1.14
1 Month Change5.49%
3 Month Change-5.29%
1 Year Change12.83%
3 Year Change-45.48%
5 Year Change-52.90%
Change since IPO91.76%

Recent News & Updates

Mar 10
Do Institutions Own Town Centre Securities PLC (LON:TOWN) Shares?

Do Institutions Own Town Centre Securities PLC (LON:TOWN) Shares?

If you want to know who really controls Town Centre Securities PLC ( LON:TOWN ), then you'll have to look at the makeup...

Shareholder Returns

TOWNGB REITsGB Market
7D-3.5%0.1%-1.9%
1Y12.8%25.9%13.8%

Return vs Industry: TOWN underperformed the UK REITs industry which returned 25.9% over the past year.

Return vs Market: TOWN matched the UK Market which returned 13.8% over the past year.

Price Volatility

Is TOWN's price volatile compared to industry and market?
TOWN volatility
TOWN Average Weekly Movement4.9%
REITs Industry Average Movement2.8%
Market Average Movement4.9%
10% most volatile stocks in GB Market9.7%
10% least volatile stocks in GB Market2.6%

Stable Share Price: TOWN is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: TOWN's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1959127Edward Ziffhttps://www.tcs-plc.co.uk

Town Centre Securities PLC (TCS) is a leading UK property investment & development company with property assets of over £394 million. With almost 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. Committed to tenants and shareholders, TCS provides world-class residential, office and commercial accommodation and robust investment opportunities through actively managing our portfolio for income and capital growth.

Town Centre Securities Fundamentals Summary

How do Town Centre Securities's earnings and revenue compare to its market cap?
TOWN fundamental statistics
Market CapUK£68.59m
Earnings (TTM)-UK£27.44m
Revenue (TTM)UK£22.36m

3.1x

P/S Ratio

-2.5x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TOWN income statement (TTM)
RevenueUK£22.36m
Cost of RevenueUK£8.81m
Gross ProfitUK£13.55m
ExpensesUK£40.99m
Earnings-UK£27.44m

Last Reported Earnings

Dec 31, 2020

Next Earnings Date

n/a

Earnings per share (EPS)-0.52
Gross Margin60.60%
Net Profit Margin-122.72%
Debt/Equity Ratio108.8%

How did TOWN perform over the long term?

See historical performance and comparison

Dividends

3.9%

Current Dividend Yield

-1,640%

Payout Ratio

Valuation

Is Town Centre Securities undervalued compared to its fair value and its price relative to the market?

0.45x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: TOWN (£1.3) is trading above our estimate of fair value (£0.67)

Significantly Below Fair Value: TOWN is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TOWN is unprofitable, so we can't compare its PE Ratio to the UK REITs industry average.

PE vs Market: TOWN is unprofitable, so we can't compare its PE Ratio to the UK market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TOWN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TOWN is good value based on its PB Ratio (0.5x) compared to the GB REITs industry average (0.9x).


Future Growth

How is Town Centre Securities forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

10.3%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if TOWN's forecast earnings growth is above the savings rate (0.9%).

Earnings vs Market: Insufficient data to determine if TOWN's earnings are forecast to grow faster than the UK market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TOWN's revenue (10.3% per year) is forecast to grow faster than the UK market (4.9% per year).

High Growth Revenue: TOWN's revenue (10.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if TOWN's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Town Centre Securities performed over the past 5 years?

-64.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TOWN is currently unprofitable.

Growing Profit Margin: TOWN is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: TOWN is unprofitable, and losses have increased over the past 5 years at a rate of 64.8% per year.

Accelerating Growth: Unable to compare TOWN's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: TOWN is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (141.2%).


Return on Equity

High ROE: TOWN has a negative Return on Equity (-18.06%), as it is currently unprofitable.


Financial Health

How is Town Centre Securities's financial position?


Financial Position Analysis

Short Term Liabilities: TOWN's short term assets (£23.0M) do not cover its short term liabilities (£62.3M).

Long Term Liabilities: TOWN's short term assets (£23.0M) do not cover its long term liabilities (£146.4M).


Debt to Equity History and Analysis

Debt Level: TOWN's net debt to equity ratio (97.1%) is considered high.

Reducing Debt: TOWN's debt to equity ratio has increased from 95% to 108.8% over the past 5 years.

Debt Coverage: TOWN's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: TOWN's interest payments on its debt are not well covered by EBIT (0.7x coverage).


Balance Sheet


Dividend

What is Town Centre Securities's current dividend yield, its reliability and sustainability?

3.85%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TOWN's dividend (3.85%) is higher than the bottom 25% of dividend payers in the UK market (1.37%).

High Dividend: TOWN's dividend (3.85%) is low compared to the top 25% of dividend payers in the UK market (4.17%).


Stability and Growth of Payments

Stable Dividend: TOWN's dividend payments have been volatile in the past 10 years.

Growing Dividend: TOWN's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: TOWN is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: TOWN's dividends in 3 years are forecast to be covered by earnings (85.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.2yrs

Average board tenure


CEO

Edward Ziff (61 yo)

20.67yrs

Tenure

UK£674,000

Compensation

Dr. Edward Max Ziff, OBE DL, HonDBA, has been the Chief Executive Officer of Town Centre Securities PLC from February 2001. Dr. Ziff served as the Managing Director of Town Centre Securities Plc since 1983...


CEO Compensation Analysis

Compensation vs Market: Edward's total compensation ($USD892.42K) is above average for companies of similar size in the UK market ($USD324.53K).

Compensation vs Earnings: Edward's compensation has been consistent with company performance over the past year.


Board Members

Experienced Board: TOWN's board of directors are considered experienced (6.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Town Centre Securities PLC's employee growth, exchange listings and data sources


Key Information

  • Name: Town Centre Securities PLC
  • Ticker: TOWN
  • Exchange: LSE
  • Founded: 1959
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Market Cap: UK£68.593m
  • Shares outstanding: 52.87m
  • Website: https://www.tcs-plc.co.uk

Number of Employees


Location

  • Town Centre Securities PLC
  • Town Centre House
  • The Merrion Centre
  • Leeds
  • East Lothian
  • LS2 8LY
  • United Kingdom

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/11/30 21:37
End of Day Share Price2021/11/30 00:00
Earnings2020/12/31
Annual Earnings2020/06/30


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.