Intu Properties

INTU: 271.28 0.00 (0.00%)

Delayed:2016-12-09 18:15:00
Bid Price 0.00 High Price 0.00
Ask Price 0.00 Low Price 0.00
Open Price 0.00 Spread 0.00%
Prev Close 271.30 Volume 0.00

Intu Properties Share Price Chart


Historic – 1 year

Intu Properties Share Price Information

Name Intu Properties Epic INTU
Sector Real Estate Investment Trusts ISIN GB0006834344
Activites Intu Properties plc (formerly Capital Shopping Centres Group, former Liberty International plc) operates shopping centres. Security Type Equity

Key numbers

Latest Share Price (p) 0.00 Net Gearing (%) 47.47
Market Cap (£m) 3,647.77 Gross Gearing (%) 50.18
Shares in issue (m) 1,355.04 Debt Ratio 47.99
P/E Ratio 6.85 Debt-to-Equity Ratio 0.92
Divs per share (p) 13.70 Assets / Equity Ratio 2.01
Dividend Yield (%) 5.09 Price to book value 0.72
Dividend Cover 1.17 SROCE (%) 5.28
Earning per share (p) 39.30 EPS Growth (%) -18.13
52-week high / low (p) 339.35 / 254.70 DPS Growth (%) 0.00

Intu Properties Broker Views

Date Broker Rec. Price Old target price New target price Notes
01 Dec Exane BNP Paribas Underperform 271.28 280.00 280.00 Reiterates
30 Nov Exane BNP Paribas Underperform 271.28 280.00 Reiterates
01 Nov Liberum Capital Sell 271.28 240.00 240.00 Retains
28 Oct HSBC Hold 271.28 296.00 293.00 Retains
27 Oct Jefferies International Underperform 271.28 229.00 229.00 Reiterates

Intu Properties Director Deals

Date Director Type Volume / Price Trade Value
29 Nov 2016 John Whittaker Buy 39000 @ 269.08p £104,941.20
29 Jul 2016 Matthew Roberts Sale Post-Exercise 28596 @ 296.90p £84,901.52
29 Jul 2016 Matthew Roberts Exercise 60842 @ 0.00p £0.00
29 Jul 2016 David Fischel Sale Post-Exercise 37175 @ 296.90p £110,372.58
29 Jul 2016 David Fischel Exercise 79095 @ 0.00p £0.00
29 Jun 2016 John Whittaker Buy 23971 @ 266.38p £63,853.95
28 Jun 2016 Rakhi Goss-Custard Buy 7383 @ 277.63p £20,497.42

Intu Properties Company News

Broker Forecast – Exane BNP Paribas issues a broker note on Intu Properties

Exane BNP Paribas today reaffirms its underperform investment rating on Intu Properties (LON:INTU) and set its price target at 280p.

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Director Deals – Intu Properties (INTU)

John Whittaker, Non Executive Director, bought 39,000 shares in the company on the 28th November 2016 at a price of 269.08p. The Director now holds 363,850,297 shares.

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Broker Forecast – HSBC issues a broker note on Intu Properties

HSBC today reaffirms its hold investment rating on Intu Properties (LON:INTU) and cut its price target to 293p (from 296p).

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Intu Properties remains positive

Intu Properties continues to be positive about the performance of the business although it says the prospects for the UK economy are unclear as the Brexit agenda is pursued.

The group says its operating metrics remain strong. 67 new long term leases were signed in the third quarter, representing £13 million of new passing rent, in aggregate 4 per cent above previous passing rent and in line with valuers’ assumptions. This brings the total for the year to date to 165 new leases producing £30 million of new annual rent, 5 per cent above previous passing rent.

It says: “Since the EU referendum vote on 23 June, consumer confidence has remained robust and UK unemployment remains at low levels, but financial markets have been and are likely to continue to be turbulent.

“Sentiment in the overall UK property investment market since the vote would indicate a small decline in market values across many sectors including retail property. However, little transactional evidence is available for prime UK shopping centres, and our disposal of intu Bromley at a consideration above the June 2016 market value is indicative of the continuing investment demand in this sector.

“We remain on target to deliver growth in like-for-like net rental income for 2016 in the range of 3 per cent to 4 per cent. We expect this momentum to continue in 2017 with good progress on lettings and rent reviews as set out in this statement. We also have opportunities to improve the tenant mix from re-letting the BHS stores and taking major stores back for remodelling at intu Lakeside and intu Merry Hill.

“The void periods this creates could impact 2017 growth by 2 per cent to 3 per cent resulting in a lower level of aggregate growth in like-for-like net rental income than we expect to achieve in 2016. A further update will be given at the annual results announcement in February 2017. Underlying earnings per share in 2017 will also be impacted by the disposal of intu Bromley.

“Overall, while the prospects for the UK economy are particularly unclear as the Brexit agenda is pursued, we continue to be positive about the performance of the intu business with stable footfall, occupancy over 95 per cent, good progress on lettings and rent reviews and strong momentum in our programme of active management and extensions.”

The company also announced that it has exchanged contracts to sell its 63.525 per cent stake in intu Bromley to Alaska Permanent Fund Corporation (‘APFC’) for £177.9 million, representing a premium to its 30 June 2016 valuation of £175.9 million. The topped-up net initial yield based on market value at 30 June 2016 was 5.7 per cent.

intu Bromley is located in London’s largest borough and has an annual footfall of 20 million. intu has repositioned the asset having undertaken a successful mall refurbishment programme which improved the tenant mix of the centre and most recently with the fully let Queen’s Garden restaurant terrace.

And it announced the launch of an offering of £350 million of Guaranteed Convertible Bonds due 2022, with an increase option of up to £50 million.

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FLASH: intu sells stake in intu Bromley

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