Town Centre Securities (TOWN): Reinvigorating s...

Edison Investment Research Limited Town Centre Securities (TOWN): Reinvigorating strategy 27-May-2021 / 07:00 GMT/BST London, UK, 27 May 2021 Town Centre Securities (TOWN): Reinvigorating strategy Town Centre Securities (TCS) has been hard hit by the pandemic, particularly in its car parking business, but the effects have been mitigated by the strategic repositioning of the property portfolio in recent years, reflected in relatively robust rent collection and capital values. Management expects a strong recovery in car parking as the lockdown eases. In property, retail asset sales reduce near-term income but further de-risk the business, creating a stronger footing on which to build, focused on well-performing regional cities and substantial strategic development opportunities. Management is strongly aligned with shareholders and is committed to restoring the level of dividends as soon as is practicable. Our FY23e DPS of 7.25p, fully covered by EPRA earnings, represents a yield of 5.4% while the shares trade at a c 50% discount to H121 EPRA NTA.  Click here to view the full report or here to sign up to receive research as it is published. All reports published by Edison are available to download free of charge from its website www.edisongroup.com About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Martyn King [phone] [e-mail] Learn more at www.edisongroup.com and connect with Edison on:  LinkedIn  www.linkedin.com/company/edison-group-/ Twitter   www.twitter.com/Edison_Inv_Res YouTube  www.youtube.com/edisonitv Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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1201060 27-May-2021