This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Observations – For
Observations – Against
Technically the shares have accelerated their 3-month downtrend, despite markets remaining in a low rate environment which would normally be supportive for Real Estate Investment Trusts via their exposure to buoyant UK real estate market and consumer confidence via spending in commercial outlets. Shares sold off hard since H1 results showed a reduction in net surplus on revaluation and again after Q3 update.
With so many brokers so positive despite the shares falling ever further from the consensus target price (now 29% upside), the potential for knee-jerk downgrades grows. The most bearish target is looking for 8% declines to just below the 2014 floor while the most bullish requires a major reversal and significant gains
Next Event: FY Preliminaries results, 17 May
Latest Broker 12-Month Consensus: 74% Buy, 26% Hold, 0% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Boomberg or Company Press releases
| Share | 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | -2.6 | -10.1 | -19.4 | -19.1 | -18.3 | 4.6 | 31.8 | 55.1 | 55.2 |
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