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.
|11Jan17 03:48||RNS||Director/PDMR Shareholding|
|03Jan17 11:28||RNS||Total Voting Rights|
|23Dec16 01:00||RNS||Block listing six monthly return|
|01Dec16 01:45||RNS||Total Voting Rights|
|15Nov16 07:30||RNS||Appointment of new Non-Executive Director|
|15Nov16 07:00||RNS||Half-year Report 2016|
|07Nov16 10:39||RNS||Change in Director's details notification|
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.
Making Mobiles Better
17 Jan 17
Mobile phones are increasingly the key connection for the modern world. This means that the performance of mobile phones, and their networks, is going to become more critical for all the apps and businesses that rely on them. New technologies such as VR, AR, and AV will need better, more reliable connections to really move into the mainstream. In this thematic piece we attempt to identify some of the most important issues facing mobile phone networks and their users, and start to identify solutions and enablers that will solve these problems and create value by doing so.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
N+1 Singer - Morning Song 19-01-2017
19 Jan 17
Actual Experience (ACT LN) 2017 – a milestone year for revenue | Bagir Group (BAGR LN) Independent NED appointment to strengthen Board composition | Bioquell (BQE LN) Reassuring pre-close statement | Carador Income Fund (CIFU LN) Q4 dividend increased to 2.75c, 0.5c higher than forecast | FreeAgent (FREE LN) Contract with Royal Bank of Scotland | Halfords Group (HFD LN) Excellent Q3 update, special divi and confidence in FX mitigations | N Brown Group (BWNG LN) Robust peak trading with reversal of drag from older titles | NCC Group (NCC LN) Interims confirm underlying business sound | St Ives (SIV LN) Downgrade | Summit Therapeutics (SUMM LN) Dr David Roblin appointed Chief Operating Officer and R&D President | Wilmington Group (WIL LN) Acquisition – Further scaling of Healthcare
N+1 Singer - Morning Song 16-01-2017
16 Jan 17
As the birthplace of Stephenson, Armstrong and Swan, the North East of England has a proud history of industrial and technological innovation. Despite local economic challenges, the region’s industrial heritage lives on through continuing success in high end engineering and technology. The recent takeovers of private equity backed SMD (subsea robotics) and Nomad Digital (wi-fi on the railways) are testament to this. The North East has also emerged as a leader in genetics and genomics with an enviable life sciences and healthcare infrastructure. Against this backdrop, we expect the region to continue to throw up attractive IPO candidates to build on the six new listings in the past three years. We expect 2017 to be far kinder to the existing portfolio of North East plcs than 2016 (a year to forget) with recent management changes one important theme for the new year. Our top picks are Hargreaves Services, Quantum Pharma and Zytronic (all N+1 Singer Corporate clients) and we are Buyers of Northgate and Grainger.
What a year it was!
16 Jan 17
2016 got off to a rocky start. Not long into January, after just a few trading days, global equity markets lost more than US$4tn of value due to investor sentiment towards China’s economic slowdown and depreciating currency. This was immediately followed by a slump in the oil price. By the third week of January, Brent Crude hit its year low at $27.10 a barrel causing an immediate sell off in the energy sector. Once the Q1 dust had settled, attention turned to the UK’s vote on whether to remain a member of the EU. The Brexit vote result proved to be a genuine shock for markets, with many investors having believed that the UK would stay within the European Union. Attention soon turned to the equally ill-tempered US Presidential elections and all the political and economic unknowns that Trump’s victory has spawned. As a result, AIM, has seen a roller-coaster of a year in 2016.