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LMP Londonmetric Property Plc

2.10 (1.08%)
Last Updated: 10:40:45
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Londonmetric Property Plc LSE:LMP London Ordinary Share GB00B4WFW713 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  2.10 1.08% 196.60 315,837 10:40:45
Bid Price Offer Price High Price Low Price Open Price
196.60 196.90 197.80 196.40 196.90
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Agents & Mgrs 146.7M -506.3M -0.4648 -4.24 2.15B
Last Trade Time Trade Type Trade Size Trade Price Currency
10:41:01 O 317 196.60 GBX

Londonmetric Property (LMP) Latest News

Londonmetric Property (LMP) Discussions and Chat

Londonmetric Property Forums and Chat

Date Time Title Posts
11/3/202408:34LondonMetric - an assertive REIT providing a good Yield201

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Londonmetric Property (LMP) Most Recent Trades

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Londonmetric Property (LMP) Top Chat Posts

Top Posts
Posted at 22/4/2024 09:20 by Londonmetric Property Daily Update
Londonmetric Property Plc is listed in the Real Estate Agents & Mgrs sector of the London Stock Exchange with ticker LMP. The last closing price for Londonmetric Property was 194.50p.
Londonmetric Property currently has 1,089,187,736 shares in issue. The market capitalisation of Londonmetric Property is £2,148,967,403.
Londonmetric Property has a price to earnings ratio (PE ratio) of -4.24.
This morning LMP shares opened at 196.90p
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 19/12/2023 20:25 by grahamburn
The respective share price behaviour for LMP and LXI is probably within the usual ballpark for an outline all share merger arrangement (eg stronger vs weaker). If and when the details are hammered out and published more clarity should emerge.
Posted at 19/12/2023 20:20 by essentialinvestor
LMP share price dipped intially on the last major acquisition, from memory - I've not double checked.
Posted at 19/12/2023 19:38 by hindsight
"Understand the sentiment but I do trust Jones to not over pay for LXI"

Oh dear share price saying otherwise
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.
Posted at 24/11/2023 18:16 by redartbmud

I agree that it is presently difficult to see the share price return to the £2.00- £2.40 anytime soon, and the yield relative to the cost of your holding is relative, but a yield of 5.1% - 5.2% is quite tidy in the present climate. The prospect that it will increase marginally year on year is on the cards. It appears to be a part of the business model to do so.
Yes, the discount of 8.5% is thin, leaving little room for manoevre, but in the medium term the odds that asset values will rise must be on the cards.
Management has had a degree of successfully rotating assets in the portfolio, picking up manageable parcels and cherry picking the quality contained therein which are added to the stable.
They have been very careful in selecting the type of assets on the balance sheet, combined with quality tenants.
In addition their tennancies are being renegotiated at higher rates and terms of tenure extended.

The question therefore is the odds on the share price returning to the 160p range and how long it is likely to stay there before bouncing back towards the 180's and hopefully beyond? Alternatively how far down might they fall to make it worthwhile to trade a few, and at what point would it be sensible to get back in?
In the meantime, the dividend rolls in quarterly.

Personally, I have parked my holding in a drawer for the long term, trusting management to successfully churn the portfolio and avoid the worst of market sell-offs.

Everyone has a different investing style.

Interested in your thinking.

Londonmetric Property share price data is direct from the London Stock Exchange

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