Land Securities Share Discussion Threads

[muffinhead] 03/9/2018 14:25

Generally LAND follows the Footsie except since 2015 and years around 2000 dot com bubble
When 2000 market popped, Land started to recover until met up with Footsie


June 2015 £/$ rate 1.56... now 1.29... Sterling down 17% against the dollar
From June 2015, LAND shareprice down 31%

Conclusion since 2015 LAND shareprice is now 48% cheaper for potential American investors. As for current book value,,, probably fair value but markets can be fickle. 5% dividend paid quarterly seems reasonable.

Quarterly bar chart

free stock charts from uk.advfn.com

[muffinhead] 03/9/2018 14:12

EI suspect this is the PW link
Nothing new that the market has been trying to discount

[speedsgh] 03/9/2018 13:40

If 900p support fails, I'm struggling to find next obvious support level. Any suggestions?

[essentialinvestor] 03/9/2018 13:30

Hi Sky, it was a focus on the major retail REITS, HMSO, BLND and LAND.
It was based on an interview with an analyst, so it was his view.
I think his note on the sector caused some recent price weakness.

In a nutshell .. disposals from big REITS, particularly HMSO,
will depress asset valuations.

[ball deap] 03/9/2018 13:29

Keep buying do not sell this is a multi super multi bag from here. Don’t believe the hype, property in London is booming and crime is already coming down there is no exodus blah blah blah it’s a Brexit blip.

[skyship] 03/9/2018 13:25

EI - Unfortunately PW is sub only nowadays! Can you advise which other propcos they were concerned about - or are their concerns already priced in?

[essentialinvestor] 02/9/2018 15:52

LAND wrote down the value of their stake in Bluewater by 11%? this year.
There is a bearish recent article on UK retail REITS in Property Week,
may be worth a read. London office remains the largest exposure.

[muffinhead] 02/9/2018 10:33

Brexit excuse may be valid

[careful] 30/8/2018 08:22

Brexit damn Brexit.
The proud British have a habit of shooting themselves in the foot.
And it hasn't even started yet.

[roulettewheel] 30/8/2018 08:14

Any idea why Reits taking a hit today? Intu -4%, Klepierre -3%, Unibail -3% etc

[speedsgh] 29/8/2018 14:34

Start planned for £250m Piccadilly Lights building -

Developer Landsec has pressed the start button on plans for a new landmark London building at Piccadilly Circus behind the iconic billboard lights.

Demolition contractor Erith is believed to have landed the complex job of demolishing the existing building while retaining the new digital screen installed last year on a standalone structure to free up the site behind.

The complex enabling works package will get underway next April following a six-month design and pre-construction phase. It also involves retaining some existing building facades and rerouting services around the busy West End island site.

Contractors Skanska, Sir Robert McAlpine and Wates are also understood to be chasing the £250m project, known as One Sherwood Street.

The new scheme is being brought forward by Landsec at a time when it is also moving ahead with 21 Moorfields, a 564,000 sq ft office scheme above Crossrail’s Liverpool Street Moorgate ticket office in the City. Mace, McAlpine and Multiplex are in the running for this job.

Together the projects signal renewed confidence in the London office market from Landsec, which led the capital’s major building recovery after the last recession...

[skyship] 18/8/2018 12:41

Judging by these metrics, when you also consider the 35% NAV discount, LAND are quite obviously not just good value, they are actually CHEAP.

Financials:

- Group LTV ratio(2) at 25.8% (31 March 2017: 22.2%), based on adjusted net debt(2) of GBP3.7bn (31 March 2017: GBP3.3bn)
- Weighted average maturity of debt at 13.1 years (31 March 2017: 9.4 years)
- Weighted average cost of debt at 2.6% (31 March 2017: 4.2%)
- Cash and available facilities of GBP1.1bn
- Full year dividend of 44.2p, up 14.7%

[sun1950] 14/8/2018 18:50

I agree with everything you said the problem for investors is will the fall in the share price continue, what is the correct discount to NAV. I’m sure the NAV has fallen since the year end but equally the discount must have risen, and where will it settle 35 or 40% seems over the top to me but I’m a shareholder so would say that, compared to other REIT Land and BLand discount seems to be on the high side. The Brecht problem won’t be settled soon unfortunately

[cc2014] 14/8/2018 15:53

It's the same on everything UK focussed. Property, banks, insurance, brewing.
Construction and housebuilding are doing a little better, but they seem to be joining in over the last few weeks.

Doesn't make any sense to me. Unemployment falling, real wages rising, inflation steady, government borrowing falling, all the services, manufacturing and construction PMI's are between 54-56.

Markets seem now to be betting on a disorderly Brexit. Can't see anything changing until we get some news either way. You can see it in the exchange rate. Pound is getting pummelled. I'm beginning to think we must now be at the point where the markets would respond positively to any decision. They hate uncertainty.

[sun1950] 14/8/2018 15:29

Where is the bottom for this share and Bland

[ball deap] 31/7/2018 08:40

Land is going to absolutely multi bag soon. It’s spending share holders money where it matters and the market will always reward brilliant investment decisions:

[patientcapital] 30/7/2018 21:03

Not good to make such assumptions. My LAND holding is up 80% odd having held for some time. Reasonable yield as well. EU matters notwithstanding LAND is a solid enough business.

[careful] 30/7/2018 13:25

took my first punt on my assumption that BREXIT 'aint gonna happen today.
Topped up with Land.

[danieldanj] 17/7/2018 06:25

Land Securities (LAND) Earnings-Reaction to Keep an Eye

[hugepants] 13/7/2018 10:36

Q1 dividend up 15%. If that translates to full year then yielding over 5% now (with 32% discount to NAV).