Land Securities Share Discussion Threads

[nickrl] 11/9/2020 17:02

QuePassa and the share price goes down in unison with people heading back!! Anyhow this is getting back close to getting on the buy list

[essentialinvestor] 19/7/2020 16:00

There seems to be a little bit of confusion on LandSec.

They are Not saying the previous level of dividend will be reinstated,
that's a very big difference to ...a dividend being reinstated.


'The size and timing of our interim dividend will be confirmed with the publication of the half-yearly results.'

[andyj] 17/7/2020 05:25

I think there is still downside risk. Lower does not mean cheaper. It could be many months or even years before people return to shopping centers en masse. We will see how many retailers survive after the furlough scheme ends.I do think people have had enough of online shopping but it requires a large leap of faith to assume consumers spending will return as it was. Empty shopping centers are not much fun!

[thewheeliedealer] 06/7/2020 20:11

Hi all,

My mate Peter @Conkers3 and myself did a Twin Petes Investing Podcast a few days ago and part of our discussion covers LAND. We also chatted about loads of other Stocks and as always a fair bit of general Portfolio Management educational stuff. Anyway, if you use Apple, Audioboom, Overcast or Spotify you can find it under the 'Conkers Corner' Channel (you want TPI Podcast 26) and you can find it on Soundcloud at the link below.

I hope you enjoy it and find it useful,

Cheers, WD
@wheeliedealer

[essentialinvestor] 03/7/2020 11:16

Nick, ...'The size and timing of our interim dividend will be confirmed with the publication of the half-yearly results'.

So a dividend yes, but not as we know it(more likely).

[nickrl] 03/7/2020 11:11

LAND Q3 rental update - should have billed 122m this qtr but had already conceded/deferred 13m so billing was 109m. Out of that collected 81% of office, 29% of retail and 10% from other leaving them at 60% overall or 65m at day 5.

Suggesting they will reinstate divi at half year but given they are still 30m down on Q2 looking like 40m at Q3 there ability will be impaired unless they use cash resources.

Also not clear whether the billing amount covers service charges or not so they could also be having additional operating costs at centres to cover. Furthermore they are heavily exposed to ongoing tsunami of CVA/Administrations and presumably on any units becoming void they will have rates to cover although maybe get rates holiday on whole of the centre?

[flyfisher] 06/6/2020 11:06

FT Alphaville had a note on LAND and BLND on thursday.

[essentialinvestor] 02/6/2020 17:23

Ah, right. Missed that one, thanks.

[flyfisher] 02/6/2020 17:07

Unibail Rodamco announcement seems to have firmed up the sector, especially HMSO.

Unibail-Rodamco-Westfield successfully completes the disposal of five French shopping centres valued at more than €2bn
Unibail-Rodamco-Westfield (URW) today announces the successful completion of the disposal of a portfolio of five shopping centres in France to the Joint Venture (JV) formed by URW, Crédit Agricole Assurances and La Française, announced on February 12, 2020.

As at today, three of these centres have re-opened post the COVID-19 restrictions, showing encouraging footfall performance - with Alma in particular already at around 90% of pre-crisis levels - as well as, based on information from tenants, higher average baskets and conversion rates. The other two centres will re-open tomorrow, May 30.

[loganair] 31/5/2020 14:58

I can see Land having 'Stranded Assets' going forward.

1. Since being able to put a house on the market, 4 houses in my small estate of 4 and 5 bed houses of 46 houses have been put up for sale.

All for the same reason, the owners are looking for a bigger house to be able to permanently work from home.

2. I read a report that says by 2030, 30% of office workers will be working Permanently from home while a further 20% will only be going in to the office part time.

part time = less than 50% of the workers time being spent in the office.

This will mean a reduction of at least 30% in office capacity that will be needed by 2030 compared to January 2020.

[loganair] 26/5/2020 08:21

Britain's recruitment industry is the latest to slash its office space as bosses plan to continue flexible working from home long after the pandemic lockdown is over. As many as four-in-10 businesses will review their physical sites in the coming months, giving them a chance to save money on rent, according to a survey by the Association of Professional Staffing Companies.

[essentialinvestor] 13/5/2020 19:46

SP indicating some horrendous NAV write downs to come?.

Tbf markets are also focussed on rent collections atm.

[loganair] 13/5/2020 11:40

Numis has placed Land Securities (LAND) ‘under review’ after the property developer swung to a £837m loss.

Analyst Robert Duncan placed his ‘reduce’ recommendation and target price ‘under review’ on the back of full-year 2020 results that he said offered ‘little surprise, positive or negative’.

He said management had ‘sought to try to position on the front foot’ with a long-term strategy but new chief executive Mark Allan has spent the last month dealing with Covid-19 disruption.

‘In our view, this should hardly be a surprise, but we believe market expectations were high for a near term glimpse into any potential changes,’ he said.

Duncan said there was ‘little reason for the shares to respond positively’ to the result especially with the amount of time needed for Covid-19 ‘firefighting’ and he expects a ‘material downgrade’ to earnings.

[shieldbug] 13/5/2020 09:21

ZZTop - the irony - people will always want to ruin their health.

[zztop] 12/5/2020 12:23

Imperial brands is safe and pays a good diviThink shops offices are so last century

[shieldbug] 12/5/2020 11:56

Essential - that is the question of the century. Perhaps they just didn't like to have it spelt out. Regional retail down 27.5%.

[essentialinvestor] 12/5/2020 11:21

What on earth was the market expecting?. Was always going to be grim.

[hugepants] 12/5/2020 10:53

Down 15% on results. Not that great. Both LAND and BLND have hardly any exposure to probably the most resilient sector just now, logistics/industrial. They are mostly office and retail. Also the high central London weighting where you'd expect valuations to be on the high side with more scope to fall over time.

[gekko27] 12/5/2020 10:49

Both land and bl will need to raise cash....for a declining business model, what’s the point, another now useless pair of capital destructive ftse 350 dividend traps. U.K. with the brexit fiasco still to navigate and a trashed currency is toast, stick to buying s and p and shorting U.K. everything.