Land Securities Group (LON:LAND) Issues Quarterly Earnings Results

Land Securities Group (LON:LAND) issued its quarterly earnings results on Friday. The company reported GBX 25.90 earnings per share (EPS) for the quarter, Digital Look Earnings reports. Land Securities Group had a net margin of 38.45% and a return on equity of 5.29%. The company had revenue of £443 million during the quarter.

Here are the key takeaways from Land Securities Group’s conference call:

• Operational performance strengthened: like-for-like net rental income grew 6.2%, occupancy remained near a 20-year high, and rental uplifts reached record levels. Landsec expects full-year like-for-like income growth at the upper end of its guidance.
• Management expects high-single-digit EPS growth in FY 2028 and around 5% annual EPS growth through FY 2030, with roughly 90% of the longer-term growth forecast coming from its existing portfolio and platform. First-half EPS was stable, as operating gains offset the impact of last year’s Queen Anne’s Mansions sale.
• A £500 million equity raise funded the £611 million Metrocentre acquisition and an increased stake in Bluewater, which management says improve future income and EPS growth. The transactions reduced LTV to 37.1% and net debt to EBITDA to 7.7 times, although pro forma NTA per share fell 2.2%.
• Landsec plans to keep development exposure below 2% of portfolio value by year-end and avoid meaningful new development commitments in the near term, citing challenging project economics and higher risk. It will continue recycling capital from selected offices and non-core assets into major retail, subject to investment returns and balance-sheet discipline.

Land Securities Group Stock Performance

LON LAND traded up GBX 6 during trading hours on Friday, hitting GBX 702. The company’s stock had a trading volume of 3,452,908 shares, compared to its average volume of 27,348,457. Land Securities Group has a 12 month low of GBX 525 and a 12 month high of GBX 726. The company’s 50 day simple moving average is GBX 643.57 and its two-hundred day simple moving average is GBX 639.08. The company has a debt-to-equity ratio of 68.76, a current ratio of 1.04 and a quick ratio of 0.54. The company has a market cap of £5.82 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 12.39 and a beta of 1.15.

Insider Transactions at Land Securities Group

In other news, insider Mark Allan sold 16,800 shares of the firm’s stock in a transaction dated Friday, November 13th. The shares were sold at an average price of GBX 701, for a total transaction of £117,768. In the last quarter, insiders have bought 113 shares of company stock worth $74,694. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on LAND shares. Deutsche Bank boosted their target price on Land Securities Group from GBX 730 to GBX 750 and gave the stock a “buy” rating in a report on Monday, October 5th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 593 price target on shares of Land Securities Group in a research note on Thursday, October 15th. Finally, Berenberg Bank cut their price objective on shares of Land Securities Group from GBX 931 to GBX 863 and set a “buy” rating on the stock in a research report on Wednesday, October 14th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of GBX 654.33.

Land Securities Group Company Profile

At Landsec, we build and invest in buildings, spaces and partnerships to create sustainable places, connect communities and realise potential. We are one of the largest real estate companies in Europe, with a £12 billion portfolio of retail, leisure, workspace and residential hubs. Landsec is shaping a better future by leading our industry on environmental and social sustainability while delivering value for our shareholders, great experiences for our guests and positive change for our communities.