Capital & Regional (CAL)

Sector:

Real Estate

Index:

FTSE Small Cap

62.80p
   
  • Change Today:
    -0.40p
  • 52 Week High: 71.40p
  • 52 Week Low: 49.20p
  • Currency: UK Pounds
  • Shares Issued: 233.00m
  • Volume: 69,459
  • Market Cap: £146.32m
  • RiskGrade: 438

Capital & Regional faces tough conditions but still a 'buy' for Berenberg

By Abigail Townsend

Date: Monday 18 Mar 2019

LONDON (ShareCast) - (Sharecast News) - Berenberg has reduced its price target on Capital & Regional but insisted the property group remained a buying opportunity, despite the challenging conditions surrounding shopping centres.
The bank said: "We still see strength in Capital & Regional's business model, assets and management, but concede that the negative sentiment on the sustainability of physical retail, e-commerce and retailer failure is likely to persist for now.

"We think the market will continue to polarise, as dominant, well-invested shopping centres - the places were retailers need to be and shoppers want to shop - continue to take share in a declining market, with performance reflected in persistently high footfall and occupancy.

"With sector-leading metrics, Capital & Regional's assets remain both well invested and dominant. As such, we still think the current environment, driven by negative sentiment, resulting in transient valuation and net asset value impacts, to the disregard of operational performance, represents a significant buying opportunity given material headroom to debt covenants."

Analysts at the bank reiterated their 'buy' rating but reduce the target price to 45p.

Last week, shares in Capital & Regional fell after the real estate investment trust, which specialises in in-town shopping centres, reported full-year numbers. Net rental income rose 0.6% to £51.9m, while adjusted earnings per share rose 3.2%. The company conceded that the UK market was "challenging".

Berenberg said the results were "disappointing", and has reduced its forecasts for EPS by 9% and NAV by 11%, "in line with wider sector pressures".

But it added: "However, with a strong management team, continued operational strength, significant relative debt covenant headroom and quality asset portfolio, we continue to see value."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

CAL Market Data

Currency UK Pounds
Share Price 62.80p
Change Today -0.40p
% Change -0.63 %
52 Week High 71.40p
52 Week Low 49.20p
Volume 69,459
Shares Issued 233.00m
Market Cap £146.32m
RiskGrade 438

CAL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
84.47% above the market average84.47% above the market average84.47% above the market average84.47% above the market average84.47% above the market average
89.47% above the sector average89.47% above the sector average89.47% above the sector average89.47% above the sector average89.47% above the sector average
Price Trend
75.79% above the market average75.79% above the market average75.79% above the market average75.79% above the market average75.79% above the market average
85.37% above the sector average85.37% above the sector average85.37% above the sector average85.37% above the sector average85.37% above the sector average
Income
94.11% above the market average94.11% above the market average94.11% above the market average94.11% above the market average94.11% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
91.07% below the market average91.07% below the market average91.07% below the market average91.07% below the market average91.07% below the market average
83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CAL Dividends

  Latest Previous
  Interim Final
Ex-Div 05-Sep-24 11-Apr-24
Paid 27-Sep-24 07-Jun-24
Amount 2.85p 2.95p

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 22,786 @ 62.80p
16:35 3,022 @ 62.80p
16:35 8,481 @ 62.80p
16:35 10,000 @ 62.80p
16:35 1,283 @ 62.80p

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