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Town Centre Securities
(LSE:TOWN)
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Rating:55Neutral
Price Target:
136.00 p
▲(7.09% Upside)
Action:Reiterated
Date:08/04/26
The overall score reflects solid technical momentum (price above key moving averages with positive MACD) offset by weak fundamentals—ongoing net losses, pressured cash flow/free cash flow, and meaningful leverage. Dividend yield provides some support, but negative earnings (negative P/E) and cash flow deterioration limit the score.
Positive Factors
Revenue Growth Momentum
Sustained double-digit revenue expansion indicates strong leasing, development sales or re-leasing success and growing income base. Over 2–6 months this supports higher recurring rents and development throughput, improving medium-term cash generation potential if margins stabilize.
Negative Factors
Elevated leverage
A debt-to-equity ratio of 1.41 signals significant leverage that increases refinancing, interest-rate and covenant risk. Over months this limits financial flexibility for new developments, heightens sensitivity to property market value swings, and can force asset disposals to manage liabilities.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Momentum
Sustained double-digit revenue expansion indicates strong leasing, development sales or re-leasing success and growing income base. Over 2–6 months this supports higher recurring rents and development throughput, improving medium-term cash generation potential if margins stabilize.
Read all positive factors
Town Centre Securities (TOWN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£54.09M
Dividend Yield3.89%
Average Volume (3M)13.60K
Price to Earnings (P/E)―
Beta (1Y)0.22
Revenue Growth4.77%
EPS Growth-1540.79%
CountryUK
Employees155
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)-0.12
Shares Outstanding42,162,678
10 Day Avg. Volume9,383
30 Day Avg. Volume13,599
Financial Highlights & Ratios
PEG Ratio0.30
Price to Book (P/B)0.51
Price to Sales (P/S)1.66
P/FCF Ratio-40.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.07
Revenue Forecast (FY)£31.00M
Town Centre Securities Business Overview & Revenue Model
Company Description
Town Centre Securities PLC (TCS) is a leading UK-based real estate investment and development enterprise, managing a property portfolio valued at over £394 million. With nearly six decades of industry experience, TCS has established a reputation f...
How the Company Makes Money
Town Centre Securities makes money primarily from its property activities. Key revenue streams typically include: (1) rental income from leasing commercial (e.g., offices, retail/leisure) and residential properties to tenants under lease agreement...
Town Centre Securities Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
50
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 34.39M | 34.49M | 31.97M | 31.20M | 29.72M | 21.43M |
| Gross Profit | 10.49M | 14.38M | 16.16M | 18.18M | 17.45M | 13.95M |
| EBITDA | 9.62M | 11.43M | -1.27M | 10.68M | 12.09M | 8.88M |
| Net Income | -5.25M | -3.45M | -8.01M | -29.49M | 11.01M | -576.00K |
Balance Sheet | ||||||
| Total Assets | 297.84M | 281.43M | 292.43M | 306.68M | 375.07M | 364.10M |
| Cash, Cash Equivalents and Short-Term Investments | 26.55M | 17.99M | 25.33M | 29.76M | 22.15M | 21.67M |
| Total Debt | 175.28M | 157.90M | 159.37M | 153.21M | 185.94M | 197.20M |
| Total Liabilities | 188.89M | 169.13M | 172.79M | 165.59M | 195.76M | 208.70M |
| Stockholders Equity | 108.95M | 112.30M | 119.64M | 141.09M | 179.30M | 155.40M |
Cash Flow | ||||||
| Free Cash Flow | -827.00K | -1.41M | 6.08M | 7.46M | 4.57M | -2.47M |
| Operating Cash Flow | 3.94M | 3.42M | 6.60M | 8.04M | 4.85M | -2.28M |
| Investing Cash Flow | -12.22M | -2.10M | 2.24M | 51.06M | 10.72M | 44.08M |
| Financing Cash Flow | 7.84M | -3.10M | -9.07M | -56.21M | -17.39M | -43.61M |
Town Centre Securities Technical Analysis
Positive
127.00
Price Trends
124.11
Positive
119.77
Positive
119.85
Positive
Market Momentum
0.82
Positive
52.05
Neutral
62.68
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TOWN, the sentiment is Positive. The current price of 127 is below the 20-day moving average (MA) of 129.02, above the 50-day MA of 124.11, and above the 200-day MA of 119.85, indicating a neutral trend. The MACD of 0.82 indicates Positive momentum. The RSI at 52.05 is Neutral, neither overbought nor oversold. The STOCH value of 62.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:TOWN.
Town Centre Securities Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | £404.74M | 7.89 | 10.24% | 7.25% | 9.07% | 21.13% | |
70 Outperform | £53.94M | 7.80 | 10.22% | 8.36% | 5.98% | 35.28% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
60 Neutral | £367.71M | 14.46 | 4.93% | 4.92% | -5.46% | -27.41% | |
55 Neutral | £54.09M | -10.30 | -4.75% | 3.89% | 4.77% | -1540.79% | |
54 Neutral | £29.72M | -7.19 | -11.17% | 8.02% | -41.22% | ― | |
50 Neutral | £55.08M | -65.63 | -0.96% | 5.00% | -13.04% | 64.44% |
* Real Estate Sector Average
GB:TOWN
Town Centre Securities
128.50
8.45
7.04%
GB:CREI
Custodian REIT
82.80
10.07
13.85%
GB:PCA
Palace Capital
187.00
-16.17
-7.96%
GB:RLE
Real Estate ate ate Investors
31.50
2.03
6.90%
GB:PCTN
Picton Property Income
72.00
1.28
1.80%
GB:AIRE
Alternative Income REIT Plc
67.00
3.47
5.46%
Town Centre Securities Corporate Events
Other
Town Centre Securities Director Trims Stake as Ziff Family Retains Majority Control
Neutral
Jul 31, 2026
Town Centre Securities has disclosed that non-executive director Michael Ziff sold 100,000 ordinary shares on 30 July 2026 at 129.5 pence each, equal to 0.24% of the company’s issued share capital. Following the sale, Ziff’s beneficial...
Business Operations and StrategyRegulatory Filings and Compliance
Town Centre Securities director estate-planning trade leaves family control intact
Neutral
May 21, 2026
Town Centre Securities has disclosed a director dealing involving executive director Ben Ziff, who sold and immediately repurchased 120,500 shares in the company as part of personal estate planning. The transactions, carried out off-market on 20 M...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.