Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on LAND SECURITIES GROUP PLC. We currently have 8 research reports from 3 professional analysts.
|24Mar17 07:00||RNS||Land Securities' statement regarding 21 Moorfields|
|01Mar17 13:00||RNS||Total Voting Rights|
|27Feb17 08:00||RNS||Land Securities sells The Printworks, Manchester|
|08Feb17 09:47||RNS||Confirmation of third interim dividend|
|02Feb17 08:00||RNS||Final results of tender offers|
|01Feb17 15:30||RNS||Total Voting Rights|
|24Jan17 11:14||RNS||Announcement of tender offers to purchase notes|
Frequency of research reports
Research reports on
LAND SECURITIES GROUP PLC
LAND SECURITIES GROUP PLC
18 May 16
"London equities are expected to give back part of yesterday's gains, with the FTSE-100 seen opening some 15 points down. US interest rates returned to focus overnight as three influential Federal Reserve officials, following numerous encouraging economic releases together with the recent surge in oil prices, suggested the central bank could raise short-term interest rates at its meeting next month, a view that contrasts with the broader opinion of market forecasters who consider such a move more likely during Q4. While all principal US indices fell back, Asia was again mixed. The Nikkei rose on data showing Japan's economy had rebounded sharply in the first quarter, but Shenzhen and Hong Kong shares declined after a top Chinese official made no mention of an anticipated trading link between the two cities. This morning's Unemployment figures and the Queen's speech are awaited in the UK, while investors are braced for the US weekly petroleum status report and the Federal Reserve FOMC release minutes this afternoon. Results are due from SABMiller, SSE and Burberry." - Barry Gibb, Research Analyst
Positive figures but Brexit still ahead
17 May 16
Land Securities published its FY16 (end March) results. Profit stood at £362m, up 10% yoy, or an adjusted EPS of 45.7p and the dividend was increased by 9.9% to 35p. Basic NAV gained 10.3% yoy to 1482p. Occupier conditions remained strong, with footfall up 3.4% vs a decrease of 1.3% at the national level, and same store sales gained 1.5%, also ahead of the benchmark.
Positive interim figures but expecting less from London
21 Jan 16
Interim results (March close). Footfall achieved record highs of 1.7% beating the benchmark -2.3%. Occupier conditions remained strong with a sales increase of 2.1% yoy vs. 1.5% for the benchmark and vacancy rates continued to be at their lows over the period. The financial situation maintains momentum: a low LTV at 24% was published (the best in our coverage) and net debt at £3.5bn and a cost of debt at 5%. A third interim dividend of 8.15p to be paid in April has also been announced.
Panmure Research - Land Securities Flash 21-01-16
21 Jan 16
The ‘through the cycle' positioning of the UKs largest REIT, both in terms of operational and financial gearing, means that the group is well prepared for any downturn. The current share price is effectively building in a fall in capital values of 10%-15% which today's trading update totally defies. Lettings providing £13.7m on annual income, disposals of £450.5m of assets 1.8% ahead of September values and footfall 400bp above benchmark (4Q15) do not point to a distressed market. With the loan to value ratio below 25% (24.3%) the group will be resilient to a major rout. We are reducing our target price to 1475p from 1598p which reflects a level in line with our 12 month forward NAV and retain our BUY recommendation.
Panmure Morning Note 10-11-15
10 Nov 15
The group strategies to deliver new office space into a strong London office market and refocus the retail portfolio on dominant, experiential retail space are delivering robust returns for investors with 1H16A returning NAV/s growth of 5.7%, on track to meet our forecasts for FY16E. The revenue and profits figures, +8.4%, are ahead of our forecasts. Importantly the group is moving into a de-risking phase as the cycle matures so that operational and financial leverage are well placed at lower levels. Encouragingly, the income is coming through so that as capital returns moderate, income returns and dividends should advance. We maintain our Buy recommendation and 1598p target price.
Panmure Morning Note 28-09-15
28 Sep 15
Land Securities updated analysts on the retail strategy for the group at the capital markets day at Bluewater on Friday. The themes and conclusions are consistent with our views published in our recent note ‘Lets get physical' where we stressed the importance of strong retail destinations and concluded that rents are set to grow strongly in those destinations. Supporting that expectation, the management reported that refurbished and extended flagship shops at Bluewater were benefiting from a sharp rise in ERV from c£40 psf to c£55 psf. We continue to be positive about the prospects for the group's portfolio and retain our BUY recommendation – which is predicated on a sum of the parts valuation for the London and retail portfolios, and TP of 1598p.
N+1 Singer - Morning Song 22-03-2017
22 Mar 17
Carador Income Fund (CIFU LN) Premium rating restored, high levels of refinancing activity | Cello Group (CLL LN) Outlook getting brighter – watch Pulsar | Eckoh (ECK LN) Largest ever US secure payments win | eg solutions (EGS LN) Full year results in line | Futura Medical (FUM LN) Licensing deal for CSD500 in Portugal | Verona Pharma (VRP LN) Global agreement with QuintilesIMS to support development of RPL554 | Xaar (XAR LN) 2016 results slightly ahead, reduced visibility in 2017
28 Mar 17
ClearStar* (CLSU): Building a background for growth (CORP) | Sound Energy (SOU): TE-8 results (HOLD) | LiDCO* (LID): 2017 should be a transformative year (CORP) | Proteome Sciences* (PRM): FY 2016 in line. Moving towards breakeven (CORP) | Fulcrum (FCRM): Significant market potential, rising margins and a strong balance sheet (BUY) | Mortgage Advice Bureau (MAB1): Strong and growing intellectual property (BUY) | 7digital* (7DIG): Open offer result (CORP)
Another positive verdict
20 Mar 17
Burford’s results for 2016 produced another outstanding set of figures. Revenue grew by 60% to $163.4m with strong growth in the litigation finance business and an additional boost from a secondary sale in the Petersen case. On an underlying basis net income grew to $114m, a 75% increase despite the investment in growing capacity which increased costs. A combination of ongoing investment and gains and increases on valuation saw the fair value of the litigation assets increase 67% to $559m, underpinned by a growth in invested capital to $394m. With the results statement there was an announcement of a further sale of 9% of the Petersen case at a valuation of 20 times the cost of investment.
Small Cap Breakfast
28 Mar 17
Path Investments—Publication of prospectus from the Energy Investment Company. Raising £1.4m. Admission due on or around 30 March | Franchise Brands—Schedule 1 detailing £28m reverse takeover of Metro Rod. Admission expected 11 April | Alpha FX Group— Schedule 1 from the foreign exchange provider focused on managing exchange rate risk for UK corporates that trade internationally. Fundraise TBC. Admission expected 7 April. | K3 | Capital Group—Schedule 1 from the Group of business and company sales specialists across business transfer, business brokerage and corporate finance. Admission date and fundraise details TBC. | Integumen— Schedule 1 from the personal health company developing and commercialising technology and products for the human integumentary system. Raising £2.16m at 5p. Expected market cap £8.16m. Admission expected 5 April. Tufton | Oceanic Assets– Offer extended to 9 May to enable investors to complete further due diligence.