Home > Blog > Research > Research Report: Trident Estates plc
‘‘We have reviewed our model and maintain our Sell recommendation on Trident Estates plc with a 12-month price target of €1.25. We have assumed a 50% occupancy level for FY 2021, reflecting both the timing of completion and demand from potential tenants. Thereafter we are assuming fully occupancy, at a rental rate of €260 per sqm, together with the full renting out of parking spaces at €500 per space. Given today’s share price of €1.48, we are of the opinion that the Group’s share price is overvalued. As the medium term profitability of the Group is dependent upon the initiation of operations of Trident Park, which is expected to be completed by 2021, our major concern is that until the project is finalised, the Group will experience a period of low profitability. Another concern is that no dividend distribution is expected until the Trident Park project is fully completed. The project will be partly financed through a €15 million rights issue planned for 2019/

Disclaimer

The information provided on this website is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Similarly, any views or opinions expressed on this website are not intended and should not be construed as being investment, tax or legal advice or recommendations. Investment advice should always be based on the particular circumstances of the person to whom it is directed, which circumstances have not been taken into consideration by the persons expressing the views or opinions appearing on this website. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views, or opinions appearing on this website. You should always take professional investment advice in connection with, or independently research and verify, any information that you find or views or opinions which you read on our website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. CC does not accept liability for losses suffered by persons as a result of information, views, or opinions appearing on this website.

Calamatta Cuschieri Investment Services Ltd is licensed to conduct investment services business under the Investments Services Act by the MFSA and is also registered as a Tied Insurance Intermediary under the Insurance Distribution Act.