Town Centre Securities Plc

LSE:TOWN Stock Report

Market Cap: UK£61.0m

Town Centre Securities Valuation

Is TOWN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: TOWN (£1.45) is trading above our estimate of fair value (£0.47)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TOWN?

Other financial metrics that can be useful for relative valuation.

TOWN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue6.5x
Enterprise Value/EBITDA21.1x
PEG Ration/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for TOWN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average5.7x
AIRE Alternative Income REIT
6.8xn/aUK£54.9m
RLE Real Estate Investors
5.2x-26.4%UK£60.0m
SERE Schroder European Real Estate Investment Trust
4.8xn/aUK£86.1m
AEWU AEW UK REIT
6.2x-11.8%UK£138.9m
TOWN Town Centre Securities
2x-1.4%UK£61.0m

Price-To-Sales vs Peers: TOWN is good value based on its Price-To-Sales Ratio (2x) compared to the peer average (5.7x).

Price to Earnings Ratio vs Industry

How does TOWN's PE Ratio compare vs other companies in the GB REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a94.7%
 n/an/an/a
No. of CompaniesPS048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a94.7%
 n/an/an/a
No more companies

Price-To-Sales vs Industry: TOWN is good value based on its Price-To-Sales Ratio (2x) compared to the European REITs industry average (8.2x).

Price to Sales Ratio vs Fair Ratio

What is TOWN'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.

TOWN PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2x
Fair PS Ratio2.4x

Price-To-Sales vs Fair Ratio: TOWN is good value based on its Price-To-Sales Ratio (2x) compared to the estimated Fair Price-To-Sales Ratio (2.4x).

Analyst Price Targets

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

The above table shows the analyst TOWN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£1.45
UK£1.74
+19.8%
3.7%UK£1.80UK£1.67n/a2
Apr ’25UK£1.40
UK£1.74
+24.0%
3.7%UK£1.80UK£1.67n/a2
Mar ’25UK£1.30
UK£1.96
+50.9%
7.0%UK£2.10UK£1.82n/a2
Feb ’25UK£1.30
UK£1.93
+48.6%
9.1%UK£2.10UK£1.75n/a2
Jan ’25UK£1.39
UK£1.93
+38.5%
9.1%UK£2.10UK£1.75n/a2
Dec ’24UK£1.38
UK£1.93
+40.0%
9.1%UK£2.10UK£1.75n/a2
Nov ’24UK£1.23
UK£1.83
+48.4%
4.1%UK£1.90UK£1.75n/a2
Oct ’24UK£1.23
UK£1.83
+48.4%
4.1%UK£1.90UK£1.75n/a2
Sep ’24UK£1.22
UK£1.83
+49.6%
4.1%UK£1.90UK£1.75n/a2
Aug ’24UK£1.27
UK£1.83
+44.3%
4.1%UK£1.90UK£1.75n/a2
Jul ’24UK£1.25
UK£1.83
+46.0%
4.1%UK£1.90UK£1.75n/a2
Jun ’24UK£1.37
UK£1.93
+40.5%
9.1%UK£2.10UK£1.75n/a2
May ’24UK£1.42
UK£1.93
+35.6%
9.1%UK£2.10UK£1.75UK£1.412
Apr ’24UK£1.39
UK£1.93
+39.0%
9.1%UK£2.10UK£1.75UK£1.402
Mar ’24UK£1.52
UK£1.93
+27.1%
9.1%UK£2.10UK£1.75UK£1.302
Feb ’24UK£1.65
UK£1.93
+16.7%
9.1%UK£2.10UK£1.75UK£1.302
Jan ’24UK£1.50
UK£1.93
+28.3%
9.1%UK£2.10UK£1.75UK£1.392
Dec ’23UK£1.64
UK£1.93
+17.7%
9.1%UK£2.10UK£1.75UK£1.382
Nov ’23UK£1.53
UK£2.08
+36.1%
8.4%UK£2.25UK£1.90UK£1.232
Oct ’23UK£1.52
UK£2.08
+37.0%
8.4%UK£2.25UK£1.90UK£1.232
Sep ’23UK£1.62
UK£2.08
+28.1%
8.4%UK£2.25UK£1.90UK£1.222
Jul ’23UK£1.35
UK£2.08
+54.3%
1.2%UK£2.10UK£2.05UK£1.252
Jun ’23UK£1.50
UK£2.08
+38.8%
1.2%UK£2.10UK£2.05UK£1.372
May ’23UK£1.55
UK£2.08
+34.3%
1.2%UK£2.10UK£2.05UK£1.422

Analyst Forecast: Target price is less than 20% higher than the current share price.

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