Hammerson (LON:HMSO) Releases Earnings Results

Hammerson (LON:HMSO) released its earnings results on Wednesday. The real estate investment trust reported GBX 46 EPS for the quarter, Digital Look Earnings reports. Hammerson had a negative return on equity of 25.94% and a negative net margin of 346.30%.

Here are the key takeaways from Hammerson’s conference call:

• Strong FY25 results and clear 2026 guidance — net rental income rose 23% to £180m, portfolio value is up ~33% to >£3.5bn, NTA increased 6% to £3.94, and management guides to ~20% NRI growth and ~15% EPRA earnings growth for 2026.
• Operational momentum — occupancy at 96%, footfall +3m to 170m, record new leasing >£50m (adding ~£260m to first break) and a strong leasing pipeline supporting further rent upside.
• Stronger balance sheet and accretive M&A — ~£760m invested to buy out JV partners at yields >7.5%, LTV ~39%, ~£1bn liquidity and upgraded credit ratings, leaving capacity for disciplined acquisitions.
• Dividend and earnings linkage — dividend increased 6% with an 80–85% payout ratio and management intends dividends to grow as earnings rise.
• Key risks — management highlighted macro/consumer weakness (notably UK and France) and noted future growth depends on continued successful repositionings, leasing uplifts and accretive deals, so delays or weaker markets could hurt the outlook.

Hammerson Stock Performance

Shares of LON:HMSO opened at GBX 367.80 on Thursday. Hammerson has a 12-month low of GBX 219.20 and a 12-month high of GBX 373. The company’s 50 day moving average price is GBX 342.43 and its two-hundred day moving average price is GBX 313.74. The firm has a market cap of £1.95 billion, a PE ratio of 26.27, a PEG ratio of 1.68 and a beta of 2.30. The company has a quick ratio of 1.28, a current ratio of 10.65 and a debt-to-equity ratio of 80.77.

Insider Activity at Hammerson

In related news, insider Rob Wilkinson bought 155,718 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was purchased at an average cost of GBX 323 per share, for a total transaction of £502,969.14. Also, insider Rita-Rose Gagné sold 126,260 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of GBX 309, for a total value of £390,143.40. Over the last quarter, insiders sold 542,391 shares of company stock valued at $167,046,462. 10.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HMSO has been the topic of several analyst reports. Berenberg Bank upped their target price on Hammerson from GBX 405 to GBX 409 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Deutsche Bank Aktiengesellschaft boosted their price target on Hammerson from GBX 300 to GBX 320 and gave the stock a “hold” rating in a research report on Monday, November 24th. Finally, Panmure Gordon reaffirmed a “buy” rating and issued a GBX 330 price objective on shares of Hammerson in a research report on Monday, November 24th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 339.83.

About Hammerson

Hammerson is a cities business. An owner, operator and developer of prime urban real estate, with a portfolio value of £4.7billion (as at 30 June 2023), in some of the fastest growing cities in the UK, Ireland and France. Our portfolio and adjacent lands leverage our experience and capabilities to create and manage exceptional city centre destinations with the opportunity to drive value and reshape entire neighbourhoods. Our assets are high profile and play an important role in our communities, welcoming c.