Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on BRITISH LAND CO PLC. We currently have 8 research reports from 3 professional analysts.
|19Apr17 17:24||RNS||Director/PDMR Shareholding|
|05Apr17 16:39||RNS||Director/PDMR Shareholding|
|03Apr17 15:14||RNS||Block listing Interim Review|
|31Mar17 14:36||RNS||Total Voting Rights|
|29Mar17 11:35||RNS||Director/PDMR Shareholding|
|23Mar17 13:16||RNS||Anouncement re Directorate Changes|
|23Mar17 10:00||RNS||Dividend Declaration|
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Research reports on
BRITISH LAND CO PLC
BRITISH LAND CO PLC
17 May 16
London is expected to stage a modest rally at today's opening, with the FTSE-100 gaining some 20 points. US stocks, which closed higher overnight as equities rebounded from three straight weeks of declines, were supported by surging in oil prices and a rally in tech stocks. Warren Buffett's Berkshire Hathaway provides the unexpected market support declaring a US$1bn stake in Apple, which rallied the shares and was sufficient to overcome cautionary sentiment following the weaker-than-expected New York manufacturing data released yesterday. Asia, by comparison ended mixed, with investors waiting for Zhang Dejiang, the No. 3 official in the Chinese central government, who is expected to speak at an economic conference tomorrow regarding China's "One Belt One Road" initiative. In the UK this morning, expect release of Inflation data, producer prices and the ONS house price index, while later this afternoon, US real earnings and inflation figures; results are expected.
Panmure Morning Note 19-01-16
19 Jan 16
Equity market weakness may persist for some time while the imbalances caused by weak global growth, oil and commodity prices and currency wars play out. UK commercial property looks a safe haven, in our view, backed by a robust domestic economy, supply scarcity, low interest rates and non-oil based currency. The challenges are to capture the current strength, while balancing the financial and property risks. These are central to the British Land strategy. The low gearing, coupled with a clear ability to operationally out-perform (as today's update evidences) indicates that the management is well prepared. We consider the 20% discount to NAV unjustified and retain our Buy recommendation and target price at par with the one year forward NAV.
Panmure Morning Note 02-09-15
02 Sep 15
British Land has a diverse retail portfolio which includes some prime shopping parks as well as a number of standalone bulky retail and supermarket shops spread around the country. Management has assessed the assets in the light of data on consumer behaviour and recognises that some weak assets can be revitalised whereas other may not. Consequently the group will continue a selective disposal strategy and unlock value in the balance. The group is well managed and differentiates itself by actively managing the liabilities as well as the asset portfolio to drive returns. We upgrade our target price to 1008p (from 994p) and retain our BUY recommendation.
Panmure Research - Property 01-09-15
01 Sep 15
UK retail property has suffered twin headwinds of weak consumer sentiment and the structural impact from online distribution. There is now sufficient data on consumer behaviour for retailers to be confident about their omni-channel strategies and implement them. We believe that this will have a profound effect on retail property valuations with the polarity between vibrant and weak locations being rapidly exacerbated. Landlords with strong retailer relationships, a contemporary offer and, crucially, the financial resources to keep the centres state of the art should excel and we foresee robust growth in those property values. Our analysis makes Hammerson the winner and Intu is the loser.
Panmure Morning Note 29-07-15
29 Jul 15
The sale of 39 Victoria Street for £139m is in line with the group strategy to recycle capital once the asset management process has been completed. This office building was acquired for £40m, refurbished in 2013 and let on a lease maturing in 2029 to a government body. The funds are being recycled into the Paddington Basin estate where the group acquired One Sheldon Square (which replaces the income lost) earlier this year and is on site at 4 Kingdom Street. We retain our Buy stance and 994p target price.
N+1 Singer - Uncovered Gems - Speed Dating Lunch - A Famous Five for the future?
12 Apr 17
On Friday we hosted our third “speed dating” lunch with the management of five very interesting and contrasting companies not under our formal coverage: Be Heard, Byotrol, Gfinity, Oxehealth and Plant Impact. Each company gave a concise and punchy overview of its business and investment case to a group of fund managers, before rapid fire Q&A. Below we summarise our thoughts on each company with more details inside the note, plus some relevant slides. We believe that all five companies are well-managed and well worth a closer look - we intend to repeat this efficient and popular format for engaging with management teams.
N+1 Singer - Small-cap quantitative research - Growth style screen revamp and 10 focus stocks
06 Apr 17
We have reviewed the performance of our consistent growth screen since the previous refresh on 27 September 2016 and revamped the selection parameters to focus more on forecast sales and EPS growth going forward. In the period under review the consistent growth style screen outperformed the small-cap benchmark by c. 6% and underperformed the microcap index by a similar amount. Interestingly, although growth doesn’t always seem to be defensive as might be expected, however it appears right to buy growth on dips caused by or coincident with wider market volatility. In the new forecast growth screen we take a close look at 10 focus stocks. We will monitor performance and refresh it in three to four months time.
Non Life Insurance - Growing impact of hacks on share prices
18 Apr 17
Our November 2016 Cyber report flagged the growing impact of cyber attacks on quoted companies, noting that Yahoo’s breach would inevitably negatively impact Verizon’s offer price, which it did. A report by CGI and Oxford Economics has found that, to date,severe hacks on UK companies permanently reduced their share price by 1.8% - or approximately a £120m hit to MCap for a FTSE 100 firm. With GDPR coming into effect next year, we expect more headlines. That has got to be good for cyber insurers and cyber security firms.
UK Housebuilding Sector: Q1 2017
10 Apr 17
Baron King of Lothbury, also known as Mervyn King former Governor of the Bank of England, is married to Barbara, a Finnish lady. She was his girlfriend in 1970 but distance and steam-driven telecoms conspired to keep them apart. Barbara went on to marry someone else and divorce - before being reunited with King in the late 1990s. They married in 2007 and King, who had never had children, was presented with two step-children and four grandchildren; and, in a Sunday Times interview, he quoted the Finnish apothegm “Grandchildren are the dessert of life”.
Northland Capital Morning Report
02 Dec 15
Divergence looks set to dominate the final month of 2015 and set the tone for 2016. The European Central Bank is widely expected to extend its QE economic stimulus programme and could reduce its overnight deposit rate further in an attempt to boost inflation, and more stimulus could come from Japan and China. Meanwhile the Federal Reserve is now expected to lift rates from historic lows. Higher US rates will impact not only the cost of capital in the US but also emerging markets where growth remains much weaker and leverage high. The move by the ECB is unlikely to have a major impact, however, as it is an extension rather than a new tool and the headlines continue to be dominated by politics rather than financial markets (Isis, the refugee/migrant crisis, tensions between Russia and Turkey etc). The respective moves are likely to further weaken the euro in 2016. The UK sits somewhere in the middle. November’s Autumn Statement saw the Chancellor drop his tax credit reduction plans and benefit from a surprise £27bn improvement in the Office for Budget Responsibility’s five year public finances forecast, based on higher tax revenue and lower debt interest. The general shift away from austerity, the protection of tax credits and increased minimum wage should ensure further economic growth.