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LAND Land Securities Group Plc

638.50
-10.00 (-1.54%)
Last Updated: 14:00:11
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Land Securities Group Plc LSE:LAND London Ordinary Share GB00BYW0PQ60 ORD 10 2/3P
  Price Change % Change Share Price Shares Traded Last Trade
  -10.00 -1.54% 638.50 372,401 14:00:11
Bid Price Offer Price High Price Low Price Open Price
638.00 638.50 650.50 637.00 650.50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Investment Trust 795M -619M -0.8310 -7.71 4.77B
Last Trade Time Trade Type Trade Size Trade Price Currency
14:00:36 O 1 638.50 GBX

Land Securities (LAND) Latest News

Land Securities (LAND) Discussions and Chat

Land Securities (LAND) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
13:00:36638.5016.39O
13:00:30638.5017108.55O
12:59:32638.505233,339.36AT
12:59:32638.504102,617.85AT
12:59:32638.505173,301.05AT

Land Securities (LAND) Top Chat Posts

Top Posts
Posted at 24/4/2024 09:20 by Land Securities Daily Update
Land Securities Group Plc is listed in the Real Estate Investment Trust sector of the London Stock Exchange with ticker LAND. The last closing price for Land Securities was 648.50p.
Land Securities currently has 744,841,654 shares in issue. The market capitalisation of Land Securities is £4,770,710,794.
Land Securities has a price to earnings ratio (PE ratio) of -7.71.
This morning LAND shares opened at 650.50p
Posted at 15/11/2022 14:07 by nickrl
LAND report city offices down 9.7%!! but im surmising thats from selling Moorfields at 9% below book so isn't necessarily reflective of the wider mkt.

NRI also flattered by 19m of surrender premiums received so baseline earnings are actually only up 7m although extra finance costs also ate into earnings. However, Moorfields sale has lowered net debt by 20% so will lower finance costs for H2. So they can support the divi but could get dicey if they plough on with the developments that are ready to go unless they have reasonable level of tenant committment.
Posted at 10/11/2022 15:37 by barnes4
Land about to pop again
Posted at 26/10/2022 19:41 by williamcooper104
That's been true in past recessions; but WFH plus prime property not yet anywhere repriced for higher gilts means it mightn't be true this time - plus in a deep consumer recession retail tenants are now used to just not paying the rent; and what's a landlord to do when most of the industry isn't paying rent That said; would be more surprised than not it LAND (BL too) stay at these levels/fall much further and don't get taken private; too much dry PE money and a $7-9bn fund can easily fund a buy and break up
Posted at 26/10/2022 19:34 by giltedge1
Apparantly LAND was offered over £ 1 Billion for Moorfields back in January, but decided to market instead, must be the most expensive marketing campaign in history - £200M. Anyway, besides that slip up in a good position as in past recessions grade A offices have held up well as trophy assets for Foreign Investors, so one of the few property companies in offices that will have liquidity.
Posted at 27/9/2022 22:37 by williamcooper104
Also there's loads of PE dry powder still about At some point a break up/buy out becomes compelling Once PE too small and LAND plus BL too big But they could easily digest them now
Posted at 27/9/2022 21:56 by quepassa
It's not nonsense.

It's reality.

And the sky-rocketing interest rates will hit new financing and existing floating-rate financing costs hard.

When the sector tide is fast going out, it's very hard to swim against it.

7% yield sounded great a week ago. Now gilts are yielding 4.5% for a risk-free investment with the strong likelihood of gilt yields rising even further when the BoE increases rates again, as it soon will do. Gilts at 6% are being widely forecast which makes real estate at 7% look less enticing.

It's got further to fall in the ongoing rout. The market hasn't bottomed yet.

Land is a great company but the market does what the market does, irrespective of Land's credentials.

Good Luck All.

ALL IMO. DYOR.
QP
Posted at 27/9/2022 21:26 by panache1
It's a nonsense. LTV is 30% and the portfolio is practically fully let. The share price has dropped from £10 pre pandemic in 2020 to £5 now. I think it's a bit too much and hopefully oversold. At this price it's also offering a 7% yield. DYOR
Posted at 22/9/2022 06:58 by 1nf3rn0
Misses this lunchtime RNS yesterday. Looks like a good move and decent price considering the environmentLandsec and Lendlease exchange contracts on 21 Moorfields for £809m Landsec announces that it has exchanged contracts for the sale of 21 Moorfields, EC2 to an investment vehicle managed by global real estate and investments group, Lendlease (ASX:LLC) . The total consideration for the sale amounts to £809m, which, after outstanding development-related items results in a net cash receipt to Landsec of £733m.  Rothesay is providing financing for the acquisition with a 10 year senior term loan. 21 Moorfields is a premium 568,500 sq ft London office development fully pre-let to Deutsche Bank AG (DB) on a 25 year lease, with an annualised net rent of £38m. Built directly above Moorgate station, the asset is targeting sustainability ratings of BREEAM Excellent and LEED v3 Gold. Landsec will retain the responsibility for completing the development, with practical completion expected in Q1 2023. Lendlease will manage the investment vehicle , on behalf of its investment partners including Australia's TCorp and its own minority interest. The total consideration of the disposal represents an effective 9% discount to the March 2022 value, yet crystallises an anticipated development profit of £ 145m, representing 25% profit on cost. The sale is in line with Landsec's strategy to recycle capital out of mature London officesand reduces the company's loan to value from 34% to 30% based on a pro-forma March 2022 balance sheet, further strengthening its strong financial base. Following its strategic review in late 2020, Landsec has now sold £1.8bn of London offices at an average yield of 4.35%. Completion of the transaction is expected to take place in the coming week and the net proceeds of the disposal will initially be used to pay down debt. Landsec's low financial leverage post the sale of this profitable development provides the company with significant flexibility to invest in future opportunities with a higher forward return. The company maintains its guidance on earnings growth provided in the full year results statement in May
Posted at 25/8/2022 11:20 by tday
In 2007 the share price was over £23. Seven years ago it was £13. Currently it is under £7. Let's hope the new CEO's strategy works.
Posted at 12/7/2022 10:59 by orinocor
British Land, Landsec and Hammerson were all under the cosh on Tuesday after RBC Capital Markets downgraded its stance on the shares, as it took a look at the London office and UK retail property markets.

The bank cut British Land to ‘underperform’ from ‘sector perform’ and slashed the price target to 375p from 475p.

"Our more cautious view of London office and UK retail property markets negatively impacts our forecasts for British Land," it said. "Furthermore, we believe a more negative macro scenario appears slightly at odds with management’s view of their markets, increasing the potential negative impact to British Land's returns.

"While we believe in more demanding tenants leading to wide-ranging trends within certain property markets, our view is it is unlikely to be supportive of attractive development returns near-term and only benefits a proportion of most REITs' existing portfolios."

Landsec was cut to ‘sector perform’ from ‘outperform217; and the target price reduced to 675p from 950p.

RBC said Landsec has made good progress in starting to implement its CEO's new strategy, but that a deterioration in the macro environment will temporarily slow further progress.

"At the same time, we expect Landsec to be negatively impacted by a weaker macroeconomic environment given a relatively high level of variable rents in its retail/leisure businesses and exposure to more economically sensitive London office markets."
Land Securities share price data is direct from the London Stock Exchange

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