Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on LONDONMETRIC PROPERTY PLC. We currently have 9 research reports from 1 professional analysts.
|21Feb17 07:00||RNS||£16 MILLION ACQUISITION OF TWO WAREHOUSES|
|31Jan17 13:42||RNS||Total Voting Rights|
|18Jan17 16:48||RNS||Director/PDMR Shareholding|
|06Jan17 10:30||RNS||Additional Listing|
|05Jan17 15:52||RNS||Holding(s) in Company|
|15Dec16 10:07||RNS||Scrip Calculation Price|
|14Dec16 07:00||RNS||LONDONMETRIC SECURES WARRINGTON WAREHOUSE LETTING|
Frequency of research reports
Research reports on
LONDONMETRIC PROPERTY PLC
LONDONMETRIC PROPERTY PLC
Panmure Morning Note 03-02-16
03 Feb 16
The second interim dividend will be paid in early April ahead of the tax changes which take effect from 6 April 2016. Importantly, the statement underlines the positive operational performance over the year and confirms that the dividends totalling 7.25p for the year are covered – even though the financial year is not yet complete. We have upgraded our earnings figures for FY16A to reflect the strong performance but have moderated our NAV figures a little. The stock offers a good yield of 4% backed by a robust portfolio of assets with 13 year WAULT and 49% with contracted rental uplifts. We retain our BUY noting the resilience of the share price in the recent market turmoil which is justified given the strength of the assets and the management team.
Panmure Morning Note 13-01-16
13 Jan 16
LondonMetric has completed the disposals flagged at the interim results with the sale of three retail park assets on a blended yield of 5.8% for £29.5m. The prices achieved are ahead of our estimates, which had been based on an average yield of c6.1%. The retail experience over Christmas has highlighted the importance of a strong online proposition for retailers, which will add to the demand for good distribution assets and benefit LondonMetric. We retain our BUY recommendation and 199p target price.
Panmure Morning Note 02-12-15
02 Dec 15
This small disposal is one of five disposals flagged at the time of the interim results last week. The transaction crystallises an IRR of 17% and 33% profit on cost for the £13.6m exit price. The sale is consistent with the group's strategy to recycle capital from mature assets into convenience retail and retail led distribution. We retain our BUY recommendation.
Small Cap Breakfast
16 Feb 17
Saffron Energy—Schedule One update. Raising £2.5m, expected Mkt Cap £7.7m. Admission due 24 Feb. Italian Oil & Gas Play Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science Company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management
Share & share alike
14 Feb 17
The rally in the last fortnight, highlighted in the table, reflects a continued flow of positive updates and economic news. The FTSE 250, Small cap and Fledgling indices have reached record highs. We are in the lull ahead of results for those companies with a December year end, a welter of economic data regarding the UK economy, the State of the Union address in the US on 28 February and the UK Budget on Wednesday 8 March. We will learn at that stage the latest forecasts from the Office of Budget Responsibility. As highlighted previously, the reaction to corporate updates will continue to set the tone.
13 Feb 17
Surface Transforms* (SCE): H1 results confirm operational progress (CORP) | Premaitha Health* (NIPT): European diagnostics partnership (CORP) | Lok'nStore* (LOK): Filling existing stores, developing new ones (CORP) | Victoria* (VCP): Entry into the European flooring market (CORP) | eg solutions* (EGS): Exceptional H2 performance (CORP)
Small Cap Breakfast
15 Feb 17
Xafinity –Publication of prospectus. The pensions actuarial, consulting and administration business has conditionally raised £179.6m. At 139p. Due to join main market 16 Feb. Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management
A growth and value opportunity
14 Feb 17
Shares in TMT are some 20% off their year highs and trading at an 11% discount to the last reported NAV of $1.91/share as at 30 June 2016. News flow since then suggests continued positive performance of the portfolio, with the most significant reported value event being the recent revaluation of Pipedrive accretive to NAV per share by circa 14.7c. TMT invests in high growth private companies and as such valuation events are relatively infrequent for its investee companies. Anecdotal evidence from some of TMT’s portfolio suggests that there remains significant value to be unlocked from certain investments, that will not yet meet the criteria for being recognised in the portfolio valuation as at December 2016. We highlight the key news events both reported by TMT, and those relating to its portfolio companies that we have identified since the last audited NAV was published.
1H PBT up 61%; EPS up 68%
20 Feb 17
As we expected CLIG’s 1H17 DPS remained unchanged at 8.0p (1H16: 8.0p). As 1H17 Diluted EPS rose 68%, while PBT rose 61%, the results are ahead of our expectations. After increasing our FY(June)17e PBT forecast 2.8% on 17 January, we maintain our forecasts. Year to date the MSCI emerging market index is up 9.7%. At 946 it is 13.4% above 30 June 2016 of 834, and 6.3% above our forecasts of 890. If markets remain strong, we may need to raise our forecasts. We will review our forecasts in April when CLIG releases its 3Q trading update.