image

Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

Latest issue now available

SIGN UP NOW
Updates

Town Centre Securities

November 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • TOWN
  • Price:
  • 202p
Ill-informed, knee jerk mark-downs pushed the shares down to a low of 171p but they quickly bounced when Leeds and Manchester-focused Town Centre released resilient results and crucially held the (covered) full year dividend at 11.8p - the 59th year of maintained or growing dividends - providing a handsome yield of 6.6%. Borrowing reduced from £193m to £182m, lower than anything in the past three years and un-used headroom is £26m. Cost of debt is stable at 3.9% while its loan-to-value is just 49% (from 48% in ’18).Results showed eps down 8% to 12p while net asset value per share was down the same at 354p. The like-for-like portfolio valuation reduced 3.8%, as eight retail tenants went into administration or ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

Related Articles

Town Centre Securities - NAV discount starting to narrow (April 2021)
Town Centre Securities (April 2019)
Town Centre Securities - Yawning 42% discount to NAV (February 2019)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

LIMTED TIME OFFER

SUBSCRIBE TODAY AND SAVE £30 USING OFFER CODE 30OFFTMI

To access our archive of articles and receive current issues you need to subscribe

SUBSCRIBE NOW