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Shaftesbury

OTCPK:SHAB.F
Snowflake Description

Good value with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SHAB.F
OTCPK
£3B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Shaftesbury is a Real Estate Investment Trust, which invests exclusively in the liveliest parts of London's West End. The last earnings update was 159 days ago. More info.


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SHAB.F Share Price and Events
Price Volatility
SHAB.F
Industry
5yr Volatility vs Market

Value

 Is Shaftesbury undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Shaftesbury to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Shaftesbury.

OTCPK:SHAB.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 4.000000x Analysts Estimates of Net Asset Value
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:SHAB.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.47 (1 + (1- 19%) (34.1%))
0.6
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (0.8 * 7.05%)
8.59%

Discounted Cash Flow Calculation for OTCPK:SHAB.F using 4.000000x Analysts Estimates of Net Asset Value Model

In the case of Real Estate Investment Trusts (REITs) like Shaftesbury our preference is to use estimates of Adjusted Funds from Operations (AFFO) to calculate the intrinsic value using a discounted cash flow calculation.

However, in the case of Shaftesbury these estimates are not available, instead we are able to use analyst estimates of Net Asset Value (NAV).

The Net Asset Value (NAV) model is the most common intrinsic valuation methodology for REITs. The underlying idea is that you can value a REIT by valuing its real estate assets and then adjusting for its other assets and subtracting liabilities.

See our documentation to learn about this calculation.

OTCPK:SHAB.F Net Asset Value (NAV)
Calculation Result
Average NAV from 4 analysts: GBP3,328.01 = GBP3,328.01 / 307 GBP14.36
OTCPK:SHAB.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:SHAB.F represents 1.32377x of LSE:SHB
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.32377x
Value per Share
(Listing Adjusted, USD)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 10.85 x 1.32377
$14.36
Value per share (USD) From above. $14.36
Current discount Discount to share price of $12.00
= -1 x ($12.00 - $14.36) / $14.36
16.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Shaftesbury is available for.
Intrinsic value
16%
Share price is $12 vs Future cash flow value of $14.36
Current Discount Checks
For Shaftesbury to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Shaftesbury's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Shaftesbury's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Shaftesbury's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Shaftesbury's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:SHAB.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-03-31) in GBP £1.12
LSE:SHB Share Price ** LSE (2018-07-31) in GBP £9.07
United States of America REITs Industry PE Ratio Median Figure of 152 Publicly-Listed REITs Companies 28.97x
United States of America Market PE Ratio Median Figure of 2,953 Publicly-Listed Companies 18.09x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Shaftesbury.

OTCPK:SHAB.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:SHB Share Price ÷ EPS (both in GBP)

= 9.07 ÷ 1.12

8.08x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shaftesbury is good value based on earnings compared to the US REITs industry average.
  • Shaftesbury is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Shaftesbury's expected growth come at a high price?
Raw Data
OTCPK:SHAB.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.08x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
8.2%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 1.63x
United States of America Market PEG Ratio Median Figure of 2,071 Publicly-Listed Companies 1.21x

*Line of best fit is calculated by linear regression .

OTCPK:SHAB.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.08x ÷ 8.2%

0.99x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shaftesbury is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Shaftesbury's assets?
Raw Data
OTCPK:SHAB.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-03-31) in GBP £10.13
LSE:SHB Share Price * LSE (2018-07-31) in GBP £9.07
United States of America REITs Industry PB Ratio Median Figure of 190 Publicly-Listed REITs Companies 1.65x
United States of America Market PB Ratio Median Figure of 4,958 Publicly-Listed Companies 1.83x
OTCPK:SHAB.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:SHB Share Price ÷ Book Value per Share (both in GBP)

= 9.07 ÷ 10.13

0.9x

* Primary Listing of Shaftesbury.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shaftesbury is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Shaftesbury's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Shaftesbury has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Shaftesbury expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Shaftesbury expected to grow at an attractive rate?
  • Shaftesbury's earnings growth is expected to exceed the low risk savings rate of 3%.
Growth vs Market Checks
  • Shaftesbury's earnings growth is positive but not above the United States of America market average.
  • Shaftesbury's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:SHAB.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:SHAB.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 8.2%
OTCPK:SHAB.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 7.7%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 4.1%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 15.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:SHAB.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:SHAB.F Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-09-30 172 84 416 1
2021-09-30 161 77 371 1
2020-09-30 144 64 199 5
2019-09-30 134 57 162 6
2018-09-30 126 48 230 6
OTCPK:SHAB.F Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-03-31 118 45 323
2017-12-31 115 45 312
2017-09-30 112 44 302
2017-06-30 110 42 212
2017-03-31 108 41 121
2016-12-31 107 41 110
2016-09-30 106 42 99
2016-06-30 105 41 233
2016-03-31 104 40 367
2015-12-31 101 39 417
2015-09-30 99 37 467
2015-06-30 97 38 485

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Shaftesbury's earnings are expected to grow by 8.2% yearly, however this is not considered high growth (20% yearly).
  • Shaftesbury's revenue is expected to grow by 7.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:SHAB.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Shaftesbury Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:SHAB.F Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-09-30
2021-09-30
2020-09-30 0.66 0.92 0.44 3.00
2019-09-30 0.64 0.85 0.43 3.00
2018-09-30 0.83 0.92 0.78 3.00
OTCPK:SHAB.F Past Financials Data
Date (Data in GBP Millions) EPS *
2018-03-31 1.12
2017-12-31 1.10
2017-09-30 1.08
2017-06-30 0.76
2017-03-31 0.44
2016-12-31 0.40
2016-09-30 0.36
2016-06-30 0.84
2016-03-31 1.32
2015-12-31 1.50
2015-09-30 1.68
2015-06-30 1.74

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Shaftesbury is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Shaftesbury's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Shaftesbury has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Shaftesbury performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Shaftesbury's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Shaftesbury's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Shaftesbury's 1-year earnings growth exceeds its 5-year average (166% vs -2.5%)
  • Shaftesbury's earnings growth has exceeded the US REITs industry average in the past year (166% vs 8.2%).
Earnings and Revenue History
Shaftesbury's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Shaftesbury Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:SHAB.F Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-03-31 117.50 322.90 17.10
2017-12-31 114.50 312.25 16.70
2017-09-30 111.50 301.60 16.30
2017-06-30 109.60 211.50 16.45
2017-03-31 107.70 121.40 16.60
2016-12-31 106.95 110.25 16.45
2016-09-30 106.20 99.10 16.30
2016-06-30 104.95 233.15 16.10
2016-03-31 103.70 367.20 15.90
2015-12-31 101.20 417.25 15.85
2015-09-30 98.70 467.30 15.80
2015-06-30 96.60 484.80 15.80
2015-03-31 94.50 502.30 15.80
2014-12-31 92.85 471.35 15.50
2014-09-30 91.20 440.40 15.20
2014-06-30 92.45 358.60 14.55
2014-03-31 90.10 276.80 13.70
2013-12-31 89.85 258.05 13.20
2013-09-30 89.60 239.30 12.70
2013-06-30 88.75 187.65 12.10
2013-03-31 87.90 136.00 11.50
2012-12-31 87.45 114.50 11.20
2012-09-30 87.00 93.00 10.90
2012-06-30 86.10 72.25 11.00
2012-03-31 85.20 51.50 11.10
2011-12-31 83.30 82.65 10.80

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Shaftesbury has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Shaftesbury used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • Shaftesbury has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Shaftesbury's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Shaftesbury has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Shaftesbury's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Shaftesbury's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Shaftesbury is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Shaftesbury's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Shaftesbury's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Shaftesbury Company Filings, last reported 6 months ago.

OTCPK:SHAB.F Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-03-31 3,006.30 948.00 180.70
2017-12-31 3,006.30 948.00 180.70
2017-09-30 2,646.90 948.80 45.60
2017-06-30 2,646.90 948.80 45.60
2017-03-31 2,468.90 895.90 10.30
2016-12-31 2,468.90 895.90 10.30
2016-09-30 2,387.10 875.40 15.60
2016-06-30 2,387.10 875.40 15.60
2016-03-31 2,387.10 780.90 7.20
2015-12-31 2,387.10 780.90 7.20
2015-09-30 2,325.40 719.50 7.70
2015-06-30 2,325.40 719.50 7.70
2015-03-31 2,056.10 710.30 8.20
2014-12-31 2,056.10 710.30 8.20
2014-09-30 1,893.20 632.50 3.40
2014-06-30 1,893.20 697.20 7.70
2014-03-31 1,587.70 629.20 6.40
2013-12-31 1,587.70 629.20 6.40
2013-09-30 1,330.70 706.30 5.70
2013-06-30 1,330.70 706.30 5.70
2013-03-31 1,185.80 708.70 5.80
2012-12-31 1,185.80 708.70 5.80
2012-09-30 1,119.40 694.40 5.30
2012-06-30 1,119.40 694.40 5.30
2012-03-31 1,077.50 648.00 7.80
2011-12-31 1,077.50 648.00 7.80
  • Shaftesbury's level of debt (31.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (59.7% vs 31.5% today).
  • Debt is not well covered by operating cash flow (4.8%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.9x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Shaftesbury's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Shaftesbury has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Shaftesbury's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.83%
Current annual income from Shaftesbury dividends. Estimated to be 2.12% next year.
If you bought $2,000 of Shaftesbury shares you are expected to receive $37 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Shaftesbury's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.41%).
  • Shaftesbury's dividend is below the markets top 25% of dividend payers in United States of America (3.58%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:SHAB.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 181 Stocks 4.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1976 Stocks 2.6%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:SHAB.F Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2022-09-30 0.25 1.00
2021-09-30 0.22 2.00
2020-09-30 0.20 12.00
2019-09-30 0.18 13.00
2018-09-30 0.17 11.00
OTCPK:SHAB.F Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2018-05-22 0.166 1.805
2017-12-14 0.162 1.636
2017-05-23 0.158 1.600
2016-12-16 0.151 1.649
2016-11-29 0.151 1.681
2016-05-25 0.143 1.542
2015-12-17 0.139 1.563
2015-11-24 0.139 1.509
2015-05-21 0.137 1.509
2015-04-15 0.137 1.605
2014-12-22 0.132 1.631
2014-11-27 0.132 1.692
2014-05-20 0.130 1.913
2013-12-19 0.125 1.936
2013-05-22 0.125 2.056
2012-12-20 0.121 2.063
2012-11-29 0.121 2.177
2012-05-23 0.119 2.252
2012-04-16 0.119 2.327
2012-01-30 0.115 2.288
2011-11-30 0.115 2.389
2011-05-25 0.110 2.217
2010-11-30 0.103 2.196
2009-12-01 0.123 3.096
2009-09-30 0.123 3.216
2009-05-19 0.150 4.418
2008-12-03 0.110 3.539
2008-10-29 0.105 3.384

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Shaftesbury's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess Shaftesbury's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Shaftesbury afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Shaftesbury has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Shaftesbury's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Brian Bickell
COMPENSATION £1,825,000
AGE 63
TENURE AS CEO 7 years
CEO Bio

Mr. Brian Bickell, FCA has been the Chief Executive Officer of Shaftesbury Plc since October 1, 2011. Mr. Bickell joined Shaftesbury in 1986 and was appointed Finance Director in July 1987. He served as Head of Investor Relations at Shaftesbury Plc. As Finance Director at Shaftesbury for 24 years prior to his appointment as CEO, he brings substantial financial, strategic and leadership experience to the responsibility of implementing the Group’s day-to-day operations. He serves as a Director of Longmartin Properties Limited. He serves as a Board member of Westminster Property Association. He serves as a Chairman of UK China Visa Alliance. He serves as a Board member of Freehold.

CEO Compensation
  • Brian's compensation has been consistent with company performance over the past year.
  • Brian's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Shaftesbury management team in years:

6.8
Average Tenure
60
Average Age
  • The average tenure for the Shaftesbury management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Brian Bickell

TITLE
CEO & Executive Director
COMPENSATION
£2M
AGE
63
TENURE
7 yrs

Chris Ward

TITLE
Finance Director & Executive Director
COMPENSATION
£1M
TENURE
6.8 yrs

Tom Chisnell Welton

TITLE
Property Director & Executive Director
COMPENSATION
£1M
AGE
57
TENURE
21 yrs

Simon Quayle

TITLE
Property Director & Executive Director
COMPENSATION
£1M
AGE
60
TENURE
21 yrs

Karen Baines

TITLE
Head of Group Marketing & Communications

Shelley Webb

TITLE
Head of Group Residential & Kingly Court
TENURE
2.8 yrs

Sam Bain-Mollison

TITLE
Head of Retail
TENURE
0.9 yrs

Lydia Clarkson

TITLE
Head of Public Realm
TENURE
0.7 yrs

Robert Jessett

TITLE
Head of Financial Analysis and Management Information
TENURE
0.7 yrs

Penny Thomas

TITLE
Company Secretary
TENURE
12.7 yrs
Board of Directors Tenure

Average tenure and age of the Shaftesbury board of directors in years:

6.4
Average Tenure
60
Average Age
  • The tenure for the Shaftesbury board of directors is about average.
Board of Directors

Jonathan Nicholls

TITLE
Non-Executive Chairman
COMPENSATION
£153K
AGE
60
TENURE
2 yrs

Brian Bickell

TITLE
CEO & Executive Director
COMPENSATION
£2M
AGE
63
TENURE
31.3 yrs

Chris Ward

TITLE
Finance Director & Executive Director
COMPENSATION
£1M
TENURE
6.8 yrs

Tom Chisnell Welton

TITLE
Property Director & Executive Director
COMPENSATION
£1M
AGE
57
TENURE
21 yrs

Simon Quayle

TITLE
Property Director & Executive Director
COMPENSATION
£1M
AGE
60
TENURE
21 yrs

Sally Walden

TITLE
Non-Executive Director
COMPENSATION
£65K
TENURE
6 yrs

Dermot C. Mathias

TITLE
Non-Executive Director
COMPENSATION
£65K
TENURE
6 yrs

Jill Little

TITLE
Senior Independent Director
COMPENSATION
£65K
AGE
65
TENURE
4.7 yrs

Hilary Riva

TITLE
Non-Executive Director
COMPENSATION
£55K
AGE
60
TENURE
8.7 yrs

Richard Akers

TITLE
Non-Executive Director
AGE
57
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Start End Shares Max Price (GBP) Value (GBP)
17. Jul 18 Buy Richard Akers Individual 17. Jul 18 17. Jul 18 2,000 £12.16 £24,326.28
19. Jun 18 Buy Brian Bickell Individual 19. Jun 18 19. Jun 18 15,000 £12.26 £183,830.79
13. Dec 17 Sell Thomas Chisnell Welton Individual 12. Dec 17 12. Dec 17 -18,430 £13.32 £-245,432.97
03. Jan 18 Buy Hilary Riva Individual 02. Jan 18 02. Jan 18 1,920 £14.04 £26,959.48
03. Jan 18 Buy Jonathan Nicholls Individual 02. Jan 18 02. Jan 18 20,000 £14.07 £281,469.00
13. Dec 17 Sell Brian Bickell Individual 12. Dec 17 12. Dec 17 -26,085 £13.32 £-347,374.88
13. Dec 17 Sell Christopher Peter Ward Individual 12. Dec 17 12. Dec 17 -17,012 £13.32 £-226,549.42
07. Dec 17 Buy Jill Little Individual 07. Dec 17 07. Dec 17 2,997 £13.33 £39,959.53
13. Dec 17 Sell Simon Quayle Individual 12. Dec 17 12. Dec 17 -18,430 £13.32 £-245,432.97
X
Management checks
We assess Shaftesbury's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Shaftesbury has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

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Company Info

Map
Description

Shaftesbury is a Real Estate Investment Trust, which invests exclusively in the liveliest parts of London's West End. Our objective is to deliver long-term growth in rental income, capital values and shareholder returns. Focussed on restaurants, leisure and retail, our exceptional portfolio now extends to 14.9 acres, clustered mainly in Carnaby, Seven Dials and Chinatown, with substantial ownerships in east and west Covent Garden, Soho and Fitzrovia. In addition, we have a 50% interest in the Longmartin joint venture with The Mercers' Company, which has a long leasehold interest, extending to 1.9 acres, in St Martin's Courtyard in Covent Garden.

Details
Name: Shaftesbury PLC
SHAB.F
Exchange: OTCPK
Founded: 1986
£3,566,655,555
306,704,836
Website: http://www.shaftesbury.co.uk
Address: Shaftesbury PLC
22 Ganton Street,
Carnaby,
London,
East Lothian, W1F 7FD,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE SHB Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
OTCPK SHAB.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB OVW Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
BATS-CHIXE SHBL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
Number of employees
Current staff
Staff numbers
29
Shaftesbury employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/10/28 21:23
End of day share price update: 2018/07/31 00:00
Last estimates confirmation: 2018/10/16
Last earnings filing: 2018/05/22
Last earnings reported: 2018/03/31
Last annual earnings reported: 2017/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.