Big Yellow Group (BYG)

Sector:

Property Investment Trusts

Index:

FTSE 250

1,244.00p
   
  • Change Today:
      2.00p
  • 52 Week High: 1,272.00
  • 52 Week Low: 910.00
  • Currency: UK Pounds
  • Shares Issued: 196.25m
  • Volume: 6,052
  • Market Cap: £2,441.36m
  • RiskGrade: 109

Peel Hunt ups rating on Big Yellow

By Abigail Townsend

Date: Tuesday 22 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Peel Hunt has upgraded its rating on Big Yellow Group on the back of strong interim numbers.
The investment bank, which has changed its recommendation to 'hold' from 'reduce', also trimmed its price target for the self-storage provider, to 1,200p from 1,300p.

It said: "Big Yellow once again reiterated its confidence [it its business model] and noted that construction cost concerns are now easing. Combined with a correction in land prices, this should be beneficial to future development.

"Overall, this is once again a strong set of results, and we expect to upgrade our earnings per share and dividend per share forecasts by around 5%, to 57.5p and 46.0p respectively.

"The shares trade on a 20x PE and offer a 3.9% dividend yield, and following an approximate 30% decline in the share price in the year-to-date, we upgrade to 'hold' while lowering our target price."

Big Yellow reported on Monday a 97% plunge in half-year pre-tax profits in the six months to 30 September, to £6.8m, because of a revaluation loss. But revenues jumped 15% to £93.8m, while like-for-like store revenues strengthened 8%.

The increase in revenues was driven by an 11% increase in the underlying average rate over the period, which more than offset a 2% year-on-year decline in occupancy, Peel Hunt noted.

As at 1330 GMT, shares in Big Yellow were down 2% at 1,138p.

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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.

 

BYG Market Data

Currency UK Pounds
Share Price 1,244.00p
Change Today 2.00p
% Change 0.16 %
52 Week High 1,272.00
52 Week Low 910.00
Volume 6,052
Shares Issued 196.25m
Market Cap £2,441.36m
RiskGrade 109

BYG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
51.25% above the market average51.25% above the market average51.25% above the market average51.25% above the market average51.25% above the market average
3.7% below the sector average3.7% below the sector average3.7% below the sector average3.7% below the sector average3.7% below the sector average
Price Trend
34.38% above the market average34.38% above the market average34.38% above the market average34.38% above the market average34.38% above the market average
80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average
Income
2.39% above the market average2.39% above the market average2.39% above the market average2.39% above the market average2.39% above the market average
15.38% below the sector average15.38% below the sector average15.38% below the sector average15.38% below the sector average15.38% below the sector average
Growth
21.17% above the market average21.17% above the market average21.17% above the market average21.17% above the market average21.17% above the market average
64.29% above the sector average64.29% above the sector average64.29% above the sector average64.29% above the sector average64.29% above the sector average

What The Brokers Say

Strong Buy 3
Buy 5
Neutral 8
Sell 0
Strong Sell 0
Total 16
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BYG Dividends

  Latest Previous
  Final Interim
Ex-Div 04-Jul-24 04-Jan-24
Paid 26-Jul-24 26-Jan-24
Amount 22.60p 22.60p

Trades for 29-May-2024

Time Volume / Share Price
08:34 2 @ 1,246.00p
08:28 49 @ 1,244.00p
08:28 3 @ 1,244.00p
08:28 32 @ 1,246.00p
08:28 87 @ 1,246.00p

BYG Key Personnel

CEO James Gibson
CFO John Trotman

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