Shaftesbury plc (SHB) Lifted to Buy at Citigroup Inc.

Shaftesbury plc (LON:SHB) was upgraded by research analysts at Citigroup Inc. to a “buy” rating in a report released on Friday, May 12th, reports. The brokerage currently has a GBX 1,121 ($14.18) target price on the real estate investment trust’s stock. Citigroup Inc.’s price objective suggests a potential upside of 14.68% from the stock’s current price.

Other analysts have also issued reports about the stock. Numis Securities Ltd raised their price objective on shares of Shaftesbury plc from GBX 876 ($11.08) to GBX 879 ($11.12) and gave the company a “hold” rating in a research note on Friday, January 13th. Liberum Capital restated a “buy” rating and set a GBX 1,000 ($12.65) price objective on shares of Shaftesbury plc in a research note on Friday, February 10th. Jefferies Group LLC restated a “hold” rating and set a GBX 888 ($11.23) price objective on shares of Shaftesbury plc in a research note on Thursday, January 19th. Barclays PLC lowered shares of Shaftesbury plc to an “underweight” rating and reduced their price objective for the company from GBX 870 ($11.01) to GBX 820 ($10.37) in a research note on Wednesday, February 8th. Finally, BNP Paribas restated an “underperform” rating and set a GBX 870 ($11.01) price objective on shares of Shaftesbury plc in a research note on Wednesday, January 25th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of GBX 918.54 ($11.62).

Analyst Recommendations for Shaftesbury plc (LON:SHB)

Shares of Shaftesbury plc (LON:SHB) opened at 977.50 on Friday. The firm has a 50-day moving average of GBX 958.18 and a 200-day moving average of GBX 921.72. The company’s market capitalization is GBX 2.73 billion. Shaftesbury plc has a 12 month low of GBX 650.00 and a 12 month high of GBX 1,008.00.

The business also recently declared a dividend, which will be paid on Friday, July 7th. Stockholders of record on Thursday, June 15th will be paid a GBX 7.90 ($0.10) dividend. The ex-dividend date is Thursday, June 15th. This is a positive change from Shaftesbury plc’s previous dividend of $7.55. This represents a dividend yield of 0.82%.

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In related news, insider Hilary S. Riva purchased 1,669 shares of Shaftesbury plc stock in a transaction dated Wednesday, March 29th. The stock was purchased at an average cost of GBX 906 ($11.46) per share, for a total transaction of £15,121.14 ($19,128.58).

About Shaftesbury plc

Shaftesbury PLC is a real estate investment trust. The Company’s objective is to deliver long-term growth in rental income, capital values and shareholder returns. It focuses on retails, restaurants, cafes and leisure. It has approximately 590 shops, restaurants, cafes and bars. Its upper floors consist of over 406,000 square feet of office space and over 560 apartments.

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