Land Securities (LAND)

Company name:	Land Securities Group Plc
Company Description:	A group engaged in the ownership and management of commercial property
EPIC:	LAND	Trading Currency:	GBX
Market Sector:	FS10	ISIN:	GB00BYW0PQ60
Market Segment:	SET1	Share Type:	DE
WWW Address:	http://www.landsecurities.co.uk/	Description:	ORD 10 2/3P
Industry Sector:	REAL ESTATE INVESTMENT TRUSTS

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
653.20	-10.8 [-1.63]	653.40	653.80	669.20	675.60	652.20	1,731,263
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
4,843.39	741.49	0.32	-188.20	27.00	-	4.13	822.40 - 644.20

Land Securities Key Figures

(at previous day's close)
Market Cap.	4,843.39	m
Shares In Issue	741.49	m
Prev. Close	664.00
PE Ratio	-
Dividend Yield	4.13	%
EPS - basic	-188.20	p
Dividend PS	27.00	p
Dividend Cover	-
Cash Flow PS	31.42	p
Return On Equity (ROE)	-19.32	%
Operating Margin	-219.37	%
PEG Factor	-
EPS Growth Rate	-67.44	%
Dividends PS Growth Rate	-	%
Net Debt	3,778.00	m
Gross Gearing	34.38	%
Quick Assets	576.00	m
Net Working Capital	-589.00	m
Intangibles / Fixed Assets	1.54	%
Turnover PS	85.64	p
Pre-Tax Profit PS	-187.87	p
Retained Profit PS	-187.87	p
Cash PS	-	p
Net Cash PS	-157.12	p
Net Tangible Asset Value PS *	951.06	p
Net Asset Value PS	972.64	p
Spread	0.40 (0.06%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Land Securities Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	741.60	652.20
4 weeks	777.60	652.20
12 weeks	788.20	652.20
1 year	822.40	644.20

Share Price Chart (5 years)

Land Securities Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	697.60	-44.40	-6.36	652.20	2.73		699.25
4 weeks	770.00	-116.80	-15.17	652.20	2.75		731.21
12 weeks	775.60	-122.40	-15.78	652.20	2.21		741.27
26 weeks	787.00	-133.80	-17.00	652.20	2.31		762.43
1 year	679.00	-25.80	-3.80	644.20	2.14		738.80
3 years	836.60	-183.40	-21.92	474.75	2.42		722.93
5 years	1,012.00	-358.80	-35.45	474.75	2.37		799.37
† periods calculated are whole weeks rather than calendar months

Land Securities Key Management Ratios

Land Securities Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	7.36
PE Ratio	-
Tobin's Q Ratio	0.38
Tobin's Q Ratio (excl. intangibles)	0.39
Dividend Yield	4.13	%
Market-to-Book Ratio	0.67
Price-to-Pre-Tax Profit PS	-3.48
Price-to-Retained Profit PS	-3.48
Price-to-Cash Flow PS	20.79
Price-to-Sales PS	7.63
Price-to-Net Tangible Asset Value PS	0.69
Price-to-Cash PS	-
Net Working Capital PS	-79.43
Price Pct to Working Capital PS	-8.22	%
Earnings Yield	-	%
Average PE	71.82
Years in average	1
PE to PE average	-	%

Land Securities Financial Ratios

(Leverage Ratios)
Debt Ratio	26.60	%
Debt-to-Equity Ratio	0.36
Debt-to-Equity Ratio (excl. Intgbl)	0.37
Debt-to-Equity Market Value	0.54
Net Gearing	34.38	%
Net Gearing (excl. Intangibles)	34.88	%
Gross Gearing	34.38	%
Gross Gearing (excl. Intangibles)	34.88	%
Gearing Under 1 Year	10.60	%
Gearing Under 1 Year (excl. Intgbl)	10.76	%
Assets/Equity	1.52
Cash/Equity	-
(Liquidity Ratios)
Net Working Capital to Total Assets	-5.36	%
Current Ratio	0.49
Quick Ratio (Acid Test)	0.49
Liquidity Ratio	-
Cash & Equiv/Current Assets	-	%
(Solvency Ratios)
Enterprise Value	7,456.39	m
CFO/Sales	0.37
CFO/Attributable Profit	-
CFO/Assets	0.02
CFO/Debt	0.06
Total Debt/Equity Market Value	0.78
Total Debt/Sales	5.95
Total Debt/Pre-Tax Profit	-2.71
Total Debt	3,778.00	m
Total Debt/Net Current Assets	-6.41	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	10

Beta (60-Mnth)	Beta (36-Mnth)
0.3226	0.2467

Land Securities Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	-14.18	%
Return On Assets (ROA)	-10.99	%
Net Profit Margin	-219.37	%
Assets Turnover	0.05
Return On Equity (ROE)	-19.32	%
Return On Investment (ROI)	-12.15	%
Dividend Payout Ratio	-	%
Plowback Ratio	100.00	%
Growth from Plowback Ratio	-	%
Net Income Of Revenues	-219.37	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.08
Fixed Assets Turnover	0.06
Current Assets Turnover	0.49
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	19.96
Debtors-to-Sales	92.76	%
Debt Collection Period	338.56	Days

Land Securities Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
18 May 2021	Final	GBX	9.00	31/03/2020	31/03/2021	17/06/2021	18/06/2021	23/07/2021	27.00
01 Feb 2021	Quarterly	GBX	6.00	31/08/2020	31/12/2020	25/02/2021	26/02/2021	30/03/2021	-
10 Nov 2020	Quarterly	GBX	12.00	30/03/2020	30/09/2020	26/11/2020	27/11/2020	04/01/2021	-
12 Nov 2019	Quarterly	GBX	11.60	30/03/2019	30/09/2019	28/11/2019	29/11/2019	03/01/2020	23.20
31 Jul 2019	Quarterly	GBX	11.60	02/03/2019	30/06/2019	05/09/2019	06/09/2019	04/10/2019	-
14 May 2019	Final	GBX	11.65	31/03/2018	31/03/2019	20/06/2019	21/06/2019	25/07/2019	45.55
12 Feb 2019	Quarterly	GBX	11.30	31/08/2018	31/12/2018	14/03/2019	15/03/2019	12/04/2019	-
13 Nov 2018	Quarterly	GBX	11.30	30/03/2018	30/09/2018	29/11/2018	30/11/2018	04/01/2019	-
13 Jul 2018	Quarterly	GBX	11.30	02/03/2018	30/06/2018	06/09/2018	07/09/2018	05/10/2018	-
15 May 2018	Final	GBX	14.65	31/03/2017	31/03/2018	21/06/2018	22/06/2018	27/07/2018	44.20
21 Feb 2018	Quarterly	GBX	9.85	31/08/2017	31/12/2017	08/03/2018	09/03/2018	06/04/2018	-
14 Nov 2017	Quarterly	GBX	9.85	30/03/2017	30/09/2017	30/11/2017	01/12/2017	05/01/2018	-
06 Sep 2017	Quarterly	GBX	9.85	02/03/2017	30/06/2017	07/09/2017	08/09/2017	06/10/2017	-
18 May 2017	Final	GBX	11.70	31/03/2016	31/03/2017	22/06/2017	23/06/2017	27/07/2017	38.55
08 Feb 2017	Quarterly	GBX	8.95	31/08/2016	31/12/2016	09/03/2017	10/03/2017	07/04/2017	-
15 Nov 2016	Quarterly	GBX	8.95	30/03/2016	30/09/2016	01/12/2016	02/12/2016	06/01/2017	-
01 Sep 2016	Quarterly	GBX	8.95	01/03/2016	30/06/2016	08/09/2016	09/09/2016	07/10/2016	-
17 May 2016	Final	GBX	10.55	31/03/2015	31/03/2016	23/06/2016	24/06/2016	28/07/2016	35.00
21 Jan 2016	Interim	GBX	8.15	31/03/2015	31/03/2016	10/03/2016	11/03/2016	08/04/2016	-
10 Nov 2015	Interim	GBX	8.15	30/03/2015	30/09/2015	03/12/2015	04/12/2015	07/01/2016	-
22 Jul 2015	Interim	GBX	8.15	30/03/2015	30/09/2015	10/09/2015	11/09/2015	09/10/2015	-
19 May 2015	Final	GBX	8.15	31/03/2014	31/03/2015	18/06/2015	19/06/2015	24/07/2015	31.85
21 Jan 2015	Interim	GBX	7.90	31/03/2014	31/03/2015	12/03/2015	13/03/2015	10/04/2015	-
11 Nov 2014	Interim	GBX	7.90	30/03/2014	30/09/2014	04/12/2014	05/12/2014	08/01/2015	-
17 Jul 2014	Interim	GBX	7.90	30/03/2014	30/09/2014	10/09/2014	12/09/2014	10/10/2014	-
15 May 2014	Final	GBX	7.90	31/03/2013	31/03/2014	18/06/2014	20/06/2014	22/07/2014	30.70
23 Jan 2014	Interim	GBX	7.60	31/03/2013	31/03/2014	12/03/2014	14/03/2014	11/04/2014	-
12 Nov 2013	Interim	GBX	7.60	31/03/2013	31/03/2014	04/12/2013	06/12/2013	09/01/2014	-
17 Jul 2013	Interim	GBX	7.60	31/03/2013	31/03/2014	11/09/2013	13/09/2013	11/10/2013	-
15 May 2013	Final	GBX	7.60	31/03/2012	31/03/2013	19/06/2013	21/06/2013	19/07/2013	29.80
23 Jan 2013	Interim	GBX	7.40	31/03/2012	31/03/2013	13/03/2013	15/03/2013	17/04/2013	-
08 Nov 2012	Interim	GBX	7.40	31/03/2012	31/03/2013	05/12/2012	07/12/2012	10/01/2013	-
18 Jul 2012	Interim	GBX	7.40	31/03/2012	31/03/2013	12/09/2012	14/09/2012	12/10/2012	-
16 May 2012	Final	GBX	7.40	31/03/2011	31/03/2012	20/06/2012	22/06/2012	26/07/2012	29.00
24 Jan 2012	Interim	GBX	7.20	31/03/2011	31/03/2012	14/03/2012	16/03/2012	26/04/2012	-
10 Nov 2011	Interim	GBX	7.20	31/03/2011	31/03/2012	30/11/2011	02/12/2011	09/01/2012	-
25 Jul 2011	Interim	GBX	7.20	31/03/2011	31/03/2012	14/09/2011	16/09/2011	24/10/2011	-
18 May 2011	Final	GBX	7.20	31/03/2010	31/03/2011	22/06/2011	24/06/2011	28/07/2011	28.20
19 Jan 2011	Interim	GBX	7.00	31/03/2010	31/03/2011	16/04/2011	18/04/2011	25/04/2011	-
11 Nov 2010	Interim	GBX	7.00	31/03/2010	31/03/2011	01/12/2010	03/12/2010	10/01/2011	-
21 Jul 2010	Interim	GBX	7.00	31/03/2010	31/03/2011	15/09/2010	17/09/2010	25/10/2010	-
19 May 2010	Final	GBX	14.00	31/03/2009	31/03/2010	28/06/2010	30/06/2010	30/07/2010	28.00
18 Nov 2009	Interim	GBX	14.00	30/03/2009	30/09/2009	09/12/2009	11/12/2009	15/01/2010	-
13 May 2009	Final	GBX	7.00	31/03/2008	31/03/2009	15/06/2009	17/06/2009	24/07/2009	51.10
12 Nov 2008	Interim	GBX	16.50	30/03/2008	30/09/2008	03/12/2008	05/12/2008	12/01/2009	-
14 May 2008	Final	GBX	16.00	31/03/2007	31/03/2008	18/06/2008	20/06/2008	28/07/2008	64.00
14 Nov 2007	Interim	GBX	16.00	30/03/2007	30/09/2007	05/12/2007	07/12/2007	07/01/2008	-
16 Jul 2007	Interim	GBX	16.00	30/03/2007	30/09/2007	19/09/2007	21/09/2007	26/10/2007	-
17 May 2007	Final	GBX	34.00	31/03/2006	31/03/2007	20/06/2007	22/06/2007	23/07/2007	53.00
15 Nov 2006	Interim	GBX	19.00	30/03/2006	30/09/2006	06/12/2006	08/12/2006	08/01/2007	-
17 May 2006	Final	GBX	28.55	31/03/2005	31/03/2006	21/06/2006	23/06/2006	24/07/2006	46.70
15 Nov 2005	Interim	GBX	18.15	30/03/2005	30/09/2005	07/12/2005	09/12/2005	09/01/2006	-
17 May 2005	Final	GBX	32.85	31/03/2004	31/03/2005	22/06/2005	24/06/2005	25/07/2005	43.25
17 Nov 2004	Interim	GBX	10.40	30/03/2004	30/09/2004	08/12/2004	10/12/2004	10/01/2005	-
18 May 2004	Final	GBX	27.20	31/03/2003	31/03/2004	-	-	-	37.10
19 Nov 2003	Interim	GBX	9.90	30/03/2003	30/09/2003	03/12/2003	05/12/2003	05/01/2004	-
21 May 2003	Final	GBX	26.00	31/03/2002	31/03/2003	25/06/2003	27/06/2003	28/07/2003	35.50
20 Nov 2002	Interim	GBX	9.50	30/03/2002	30/09/2002	27/11/2002	29/11/2002	06/01/2003	-
22 May 2002	Final	GBX	24.95	31/03/2001	31/03/2002	26/06/2002	28/06/2002	22/07/2002	34.00
14 Nov 2001	Interim	GBX	9.05	30/03/2001	30/09/2001	21/11/2001	23/11/2001	07/01/2002	-
23 May 2001	Final	GBX	23.85	31/03/2000	31/03/2001	30/05/2001	01/06/2001	23/07/2001	32.50
15 Nov 2000	Interim	GBX	8.65	30/03/2000	30/09/2000	27/11/2000	01/12/2000	08/01/2001	-
24 May 2000	Final	GBX	22.75	31/03/1999	31/03/2000	05/06/2000	09/06/2000	24/07/2000	31.00
17 Nov 1999	Interim	GBX	8.25	30/03/1999	30/09/1999	29/11/1999	03/12/1999	10/01/2000	-
26 May 1999	Final	GBX	21.65	31/03/1998	31/03/1999	07/06/1999	11/06/1999	26/07/1999	29.50
18 Nov 1998	Interim	GBX	7.85	30/03/1998	30/09/1998	30/11/1998	04/12/1998	04/01/1999	-
20 May 1998	Final	GBX	20.40	31/03/1997	31/03/1998	01/06/1998	05/06/1998	13/07/1998	28.00

Land Securities Fundamentals

	31 Mar 2018 (GBP)		31 Mar 2019 (GBP)		31 Mar 2020 (GBP)		31 Mar 2021 (GBP)
turnover	753.00	100.00%	748.00	100.00%	740.00	100.00%	635.00	100.00%	m
pre tax profit	406.00	53.92%	442.00	59.09%	414.00	55.95%	-1,393.00	-219.37%	m
attributable profit	406.00	53.92%	442.00	59.09%	-832.00	-112.43%	-1,393.00	-219.37%	m
retained profit	92.00	12.22%	104.00	13.90%	-1,174.00	-158.65%	-1,393.00	-219.37%	m
eps - basic (p)	-32.90		-16.10		-112.40		-188.20
eps - diluted (p)	-32.90		-16.10		-112.40		-188.20
dividends per share	44.20		45.55		-		27.00

Land Securities Balance Sheet

	31 Mar 2018 (GBP)		31 Mar 2019 (GBP)		31 Mar 2020 (GBP)		31 Mar 2021 (GBP)


	31 Mar 2018 (GBP)		31 Mar 2019 (GBP)		31 Mar 2020 (GBP)		31 Mar 2021 (GBP)
ASSETS
fixed assets	-	-%	-	-%	-	-%	-	-%	m
intangibles	196.00	1.35%	179.00	1.28%	170.00	1.18%	160.00	1.46%	m
fixed investments	13,536.00	93.55%	13,155.00	93.74%	12,153.00	84.63%	10,254.00	93.30%	m
current assets - other	24.00	0.17%	37.00	0.26%	48.00	0.33%	42.00	0.38%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	651.00	4.50%	649.00	4.62%	644.00	4.48%	534.00	4.86%	m
cash & securities	62.00	0.43%	14.00	0.10%	1,345.00	9.37%	-	-%	m

TOTAL	14,469.00	100%	14,034.00	100%	14,360.00	100%	10,990.00	100%	m

LIABILITIES
creditors - short	1,180.00	8.16%	1,225.00	8.73%	1,249.00	8.70%	1,165.00	10.60%	m
creditors - long	2,797.00	19.33%	2,889.00	20.59%	4,361.00	30.37%	2,613.00	23.78%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	3,977.00	27.49%	4,114.00	29.31%	5,610.00	39.07%	3,778.00	34.38%	m

EQUITY
ord cap, reserves	10,492.00	72.51%	9,920.00	70.69%	8,750.00	60.93%	7,212.00	65.62%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	10,492.00	72.51%	9,920.00	70.69%	8,750.00	60.93%	7,212.00	65.62%	m

OTHER
NAV Basic	-		-		-		-
NAV Diluted	-		-		-		-

Land Securities Cash Flow Statement

	31 Mar 2018 (GBP)	31 Mar 2019 (GBP)	31 Mar 2020 (GBP)	31 Mar 2021 (GBP)
Operating CF	445.00	424.00	401.00	233.00	m
Pre-Financing CF	87.00	258.00	285.00	567.00	m
Retained CF	32.00	-48.00	1,331.00	-1,345.00	m

Land Securities Brokers

Name	Activity	Type	Mnemonic	Code
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC