Land Securities Share Discussion Threads

[void concept] 01/4/2020 16:57

And currently?

[essentialinvestor] 01/4/2020 16:50

Had a quick look at the 2007 FY, borrowings just over £5 billion,
net gearing was 47.1%.

Diluted adjusted NAV at £21.81 per share.

[jonwig] 01/4/2020 16:39

I mean going into the crash, not post-down valuation.

BLND (LTV 31%) said last week:

Given our covenant structure across the Group, we could withstand a fall in asset values across the portfolio of greater than 50% without any further mitigating actions.

I think there's a carry across. LAND still to comment.

[essentialinvestor] 01/4/2020 16:34

Jon, remember the LTV numbers can rapidly rise on valuation falls.

The key question is whether they may need an equity raise?.

[jonwig] 01/4/2020 16:32

EI - from what I remember about the numbers during the GFC, LTV values were a lot higher, and companies rushed to do equity raises. I think a LTV of 30% or less should be safe enough.
(LAND is 28%.)

[essentialinvestor] 01/4/2020 14:49

Will LandSec be able to navigate the next couple of years without an equity raise?.

That's a key to the valuation imv.

[jjhogg] 01/4/2020 14:46

yes sorry about that, I should have looked at the date!

[essentialinvestor] 01/4/2020 14:44

That's the 2009 rights issue!.

I just posted it as an explanation of why NAV is significantly below 2019 levels.

Apologies if that caused any misunderstanding.

[jonwig] 01/4/2020 14:44

jjhogg - that article is ELEVEN years old!

(For the record, a "rights issue" is open to all.)

[bookbroker] 01/4/2020 14:41

What are you talking about?

[jjhogg] 01/4/2020 14:36

ignore me that document was 2009! should have looked at the date

[essentialinvestor] 26/3/2020 18:38

At least they did not go down the Bland share buyback route.

[careful] 26/3/2020 12:18

picked up a few at 563.
These used to be called the boring rent collectors.
Prime assets in prime locations, conservatively managed.
The bluest of blue chips.

Now we wonder if property is safe as it used to be in times gone by.
This new world is opening up new possibilities.

Bought today on the assumption that we shall go back to the old way.
We will not want to work or even shop from home.
We are social animals, need to see and be seen.

[quepassa] 18/3/2020 17:07

Yes . Excellent timing. Well done him!

I haven't checked his holdings but he flogged £1million of shares but I guess he has still lot more shares he didn't sell?

ALL IMO. DYOR.
QP

[essentialinvestor] 18/3/2020 16:44

QP, Robert Noel timed his sales astutely.

[quepassa] 18/3/2020 10:07

See Sainsbury's RNS today about the Business Rate holiday announced yesterday.
Sainsbury's bill last year was £567million.

A big boost for tenants. And by extension, landlords.

ALL IMO. DYOR.
QP

[quepassa] 13/3/2020 08:21

SIX POINT TWO FIVE PER CENT YIELD.

AT A TIME WHEN INTEREST RATES ARE AT AN ALL TIME LOW.

BABY THROWN OUT WITH THE BATHWATER?

ALL IMO. DYOR.
QP

[quepassa] 12/2/2020 16:33

Strong momentum.

[quepassa] 15/1/2020 16:07

Significant UPGRADE AND TARGET PRICE INCREASE.

Bk of America Merrill Lynch issue broker note today with UPGRADE BUY recommendation and TARGET PRICE INCREASE from 990p to 1070p

[quepassa] 10/1/2020 08:14

Land Secs is a top FTSE100 share pick for 2020 in my view.

The vastly improved and stabilised political backdrop in the UK will increasingly put LanSec back on the investor radar as overseas money floods back into the UK - both for equities and high value non-retail real estate.

Hints by the BoE that interest rates are unlikely to rise - and may even be cut- will add further support.

Personally expecting share price outperformance from LanSec this year as new CEO gets into his stride.

ALL IMO. DYOR.
QP

[quepassa] 19/12/2019 09:26

One of the more unusual type of Broker recommendations.

Yesterday.

Deutsche downgrade from BUY to HOLD...

...but INCREASE TARGET PRICE from 950p to 1020p

[quepassa] 13/12/2019 15:41

A massive post-election bounce for the LanSec and a great vote of confidence in the company which is well-placed to benefit from a pro-business, low-tax Majority Conservative government.

Now at 1,000p being up 7.5% or 70p on today's session.

ALL IMO. DYOR.
QP

[quepassa] 13/12/2019 10:03

A very supportive election result for LanSec which will likely unleash a pent-up wave of overseas investment which had been holding back due to various political uncertainties in the UK.

ALL IMO. DYOR.
QP