Share Name Share Symbol Market Type Share ISIN Share Description
Land Securities Group LSE:LAND London Ordinary Share GB00BYW0PQ60 ORD 10 2/3P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +5.00p +0.60% 840.00p 839.00p 839.60p 843.00p 832.00p 838.00p 1,294,608 16:35:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 753.0 406.0 -32.9 - 6,228.28

Land Securities Share Discussion Threads

Showing 1201 to 1225 of 1225 messages
Chat Pages: 49  48  47  46  45  44  43  42  41  40  39  38  Older
DateSubjectAuthorDiscuss
14/10/2018
12:40
There will be value here at some point that's for sure. At what price is more difficult to say. This is well worth monitoring as we approach the Brexit crunch point. I mentioned a few months ago it was near the darkest moment in the Brexit process that sector opportunity would present itself, it looks to be playing out that way. One proviso to the above, if we are facing another GE with a Labour government, all bets are off. That is only a distant outlier atm.
essentialinvestor
14/10/2018
11:34
Re my comments above, here is a short extract taken from Gavin Lumsden’s Dec’17 interview with Richard Shepherd-Cross of Custodian REIT – which even now still trades at a 5%+ PREMIUM! Well worth a 10minute listen: https://tinyurl.com/ycyn8o3x ==================================================== GL: I’m interested in your perspective as an investor outside London, in the regions. What’s it been like? It’s very easy to have a London-centric view whether you’re in property or anything else. RSC: I think that’s right and particularly for property where all the market data is heavily skewed by central London property stats. But in the regional markets I would say from an occupational perspective, this is not a capital markets comment, this is a comment on the underlying occupier market, we’re mid cycle: mid-cycle because at the bottom of the market you have vacancy rates, weak tenant demand, you have falling rents. We’ve now got growing rents, rents have now been growing in the regions for about two years. We’ve seen very low vacancy rate but what we don’t yet have is wholescale speculative development. So we’ve still got a market that’s being driven by lack of supply and that’s keeping pressure on rents to grow. GL: So that’s good for property prices? Because I imagine theres a lot of interest in regional property markets, getting away from London which seems very exposed to Brexit. So if there isn’t new supply coming through does that mean it’s good for prices? RSC: What it means is rents should continue to grow. What we have to be careful of in a market where rents are growing is that we don’t buy out next year’s performance by paying too much for property today. That’s an easy trap to fall into. =====================================================
skyship
14/10/2018
08:53
One has to concede that Elliott really have played a blinder with their big BLND/LAND shorts. Did anyone else really see this further leg down, falling 12% since 1st August? Now one can understand the logic - with interest rates rising, the yields had fallen too low for the prime real estate in London and the South-East. Buying smaller lots in the regions is a totally different matter, as there the tightening market suggests rents are secure and rising, yields are still too high, so valuations still too conservative at way below replacement costs - c35% below in the case of RGL! But in London & the South-East there is no property shortage; more development stock is still coming through and many companies are still looking to exit an area where their employees cannot afford to live. Reckon I'll continue to avoid the false value on offer here; and cling tight to my regional players. Bought back a few HCFT I top-sliced earlier. As far as I'm aware they are the only UK propco with ZERO voids. On the 30th June stats the discount = 22.5% and the yield = 5%, though Interim divi raised 17%, so possibly c5.7% prospective. A very conservatively managed minnow: http://www.highcroftplc.com/
skyship
12/10/2018
18:04
Just to clarify, it was the Jefferies note I referenced when mentioning potential disposals. There was a brief summary in the FT and Property Week article, but what we don't see is the modelling behind the analyst view. From what I could gather, his rational may be - falling London office rents coupled with rising voids in retail may necessitate disposals. Very surprised on reading this (re potential disposals needed). Does not necessarily mean his view will be validated.
essentialinvestor
12/10/2018
17:03
Close today 820.4p. This is now below the target price forecast of 825p from the most bearish analyst of the sector Mike Prew of Jefferies.
void concept
11/10/2018
20:03
This is what they signed off with in May with the final results. "The business is in a strong position. Our portfolio is well let and adaptable to changing customer expectations. In a market facing short-term uncertainty, we have conservative gearing, market-leading debt facilities and a growing pipeline of opportunities for the future."
hugepants
11/10/2018
18:41
I can’t see reference to LTV covenants in the Accounts/Risks Statements’s. Plenty of other risks but if the dust settles here it’s high up on my top up list.
steve3sandal
11/10/2018
16:00
HP, would expect there would need to be a pretty cataclysmic fall in NAV for any debt covenants to be tested?.
essentialinvestor
11/10/2018
14:26
yes LTV of 25%
hugepants
11/10/2018
13:30
LTV less than 30% so should be able to refinance versus selling. However selling property at nearer NAV when the company is trading at 40% discount will provide a boost. If proceeds can then be reinvested to generate higher returns than the divested asset was yielding then it makes even more sense.
1nf3rn0
11/10/2018
13:27
Their LTV is
1nf3rn0
11/10/2018
10:13
Will they need asset sales, as the recent analyst view appears to suggest.
essentialinvestor
11/10/2018
10:10
Value is harder to find when there is a cheery consensus.
essentialinvestor
11/10/2018
10:03
I am very tempted but I think I will let all this turbulence finish. I watched in 2009 but didn’t buy then
hybrasil
10/10/2018
22:45
Hmmm. Yes. Quite.
hugepants
10/10/2018
17:55
Start of 2009 these hit about 4.50, with this Brexit madness and door open to Corbyn could be revisiting the 5's.
porsche1945
05/10/2018
18:28
Indeed - prepared to sacrifice a profit so as not to risk a loss!
skyship
05/10/2018
16:51
Tempted today, and yesterday. Held off buying.
essentialinvestor
05/10/2018
08:25
I guess a possible bid for INTU has pushed the price up this morning
ntv
05/10/2018
08:16
so was I SKYSHIP, wished i had but could just be a DCB got to test the lows again pretty soon I reckon
ntv
04/10/2018
16:28
No bounce toward the close - just further weakness. Getting sorely tempted at these levels; even if we know a valuation markdown inevitable. Fortunately not affecting the small regional players - my top play (RGL) up again today as more people assume the CIC tap now gone...
skyship
04/10/2018
16:24
£10.5bn net assets. Yet the company is now valued at £6.2bn. in the good old days net assets were considered to be important. Modest gearing. could you ever imagine a buy to let property investor being told that his net assets could be bought at a 40% discount. Who would ever believe that land securities, the bluest of blue chips in the past would be struggling so badly? A punt on a sensible Brexit in part, an assumption that Amazon will not destroy the high street, but these could be offering the chance of a lifetime.
careful
04/10/2018
12:24
£6?, you mean £9 ;
essentialinvestor
04/10/2018
12:19
I see £6
hybrasil
04/10/2018
11:39
# BLND - down 28 (4.6%) @ 580p # LAND - down 24 (2.8%) @ 850p # HMSO - down 12 (2.7%) @ 443p !!! Must be a big bearish broker report out somewhere...
skyship
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