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LMP Londonmetric Property Plc

0.40 (0.20%)
24 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Londonmetric Property Plc LMP London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.40 0.20% 201.40 16:35:18
Open Price Low Price High Price Close Price Previous Close
199.50 199.40 202.00 201.40 201.00
more quote information »
Industry Sector

Londonmetric Property LMP Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date

Top Dividend Posts

Top Posts
Posted at 08/3/2024 18:13 by magnets
Trading212 purchased/moved my LXI dividend into LMP automatically
Posted at 08/3/2024 09:18 by wsm812
HL will not re-invest my previous LXI dividend into LMP for the below reason:

"As these are two different lines of stock this dividend will not be reinvested in to the new line of stock."

Is this consistent across other platform/providers? TIA
Posted at 05/3/2024 11:31 by george stobart
It's the money that they had to pay to acquire Alvarium Fund Managers (UK) Limited

Alvarium was also the external manager of a ponzi scheme called HOME REIT which is under probe by the FCA.

The risk here is that they paid money for a company that will be under fines by UK courts and there are skeletons in the closet transfered to LMP
Posted at 05/3/2024 11:04 by skyship
Offer Document - LMP/LXI - 540pp. Total costs of the deal: £20.2m!!!
Posted at 04/3/2024 16:53 by skyship
WsM - "I am very happy to be part of the LMP holders."

I agree with the srong B/s comment; also a more favourable trading cycle ahead. Also excellent management. However why buy LMP?

For 2yrs they have traded 160p-200p; and are likely to stay there.

The reason being the valuation. A 9% discount and a mere 5.2% yield just doesn't cut the mustard.

They are over-valued versus all peers. Ditch them and buy almost anything else in the sector.
Posted at 04/3/2024 15:11 by wsm812
As the end of LXI trading approaches and the future under the LMP wing begins, I am very happy to be part of the LMP holders.

The SPs of both entities have been fluctuating in a fairly narrow band for 12 months+.

With strong balance sheets and a favourable trading cycle moving into vision I am hopeful of a safe and prosperous future. Good luck to us all.
Posted at 13/1/2024 12:20 by pyufak
I am not a financial analyst but I did notice the drop of income I'm going to receive due to switching to 0.55 LMP shares for every one of my LXI. No complaints as I am happy with the stronger and broader portfolio (and getting rid of the investment advisor and bringing asset management in house).

This got me thinking and very rough calculations ... is the enlarged LMP not going to be in an excellent position to increase the dividend substantially. Here's some back of a napkin logic prior but just wanted to put out there to see if anyone has looked at this before I look into it further:

H1 LMP paid 52.32m in dividends (1.09bn shares * 4.8pp)
H1 LXI paid 56.5785m in dividends (1.714.5bn shares * 3.3pp)
Total: 108.9m

Total shares of enlarged group = 1.09bn + (0.55 * 1.7145) = 2.032975bn

Total H2 dividend payments divided by outstanding shares: 5.356p for H1 for enlarged group vs. LMP currently paying 4.8. This is an 11.6% uplift.

This is just driven by LMP buying a higher yielding REIT but doesn't take into account any savings from investment advisor fee and economies of scales regarding debt costs because of the englarged group. The investment advisor fee alone could be worth just over a penny annually.
Posted at 13/1/2024 10:07 by hindsight
Pyufak, same thoughts here but im a LMP holder from the CTPT takeover, my largest reit now EPIC has gone
Relieved and pleased LMP havent overpaid, clearly willing to walk away, rather than go on a ego trip says a lot about LMP management quality
Posted at 12/1/2024 17:37 by pyufak
Hello, long time SIR holder prior to merging with LXI and now here I am. Have to say I was both a happy SIR, LXI and now LMP holder. Think the portfolio is excellent and LXI complements LMP well. Some fat to be cut out of LXI with the management fee going in house and economies of scale. The new company looks like a FTSE 100 contender but not in the automatic entry positions.

I think LMP are being very shrewd with the interest rate cycle clearly turning I'd expected LXI to go on a buying spree but instead it seems they have been snapped up themselves. They will be working through this merger for some time but hope they can use the added size and balance sheet strength of the enlarged group to continue expansion to take advantage of current valuations before interest rates start to be cut. Simon Lee of LXI has mentioned on recent calls they were looking at buying assets out of DB schemes which were risk reducing - a very exciting area as the assets complement the existing portfolio and management expertise well in my view.

Look forward to discussing
Posted at 18/12/2023 19:11 by pyufak
NAV vs. NAV I'd imagine is a good deal for LMP & LXI. At the end of September when both snapped for their most recent results - 30y gilt yields were 4.8%; now 4.1% and LXI has a 26y WAULT vs. LMP at 11y. In addition, LMP must be excited to to move all the LXI assets in house to avoid paying the 14m management advisor fee to Alvarium.

LXI have recently shown assets can be sold at book value and I am sure LMP will be recycling what they don't like in fairly short order if they wished. I'm increasingly excited this is a good deal for both sides, albeit LXI shareholders benefit the most in the short term as I am hoping we're taken out at NAV.

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