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

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

Shares of LON:LAND traded up GBX 6 during midday trading on Friday, reaching GBX 702. 3,452,908 shares of the company traded hands, compared to its average volume of 27,348,457. The firm’s fifty day moving average price is GBX 643.57 and its two-hundred day moving average price is GBX 639.08. The firm has a market capitalization of £5.82 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 12.39 and a beta of 1.15. The company has a quick ratio of 0.54, a current ratio of 1.04 and a debt-to-equity ratio of 68.76. Land Securities Group has a 12 month low of GBX 525 and a 12 month high of GBX 726.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LAND shares. Berenberg Bank decreased their target price on Land Securities Group from GBX 931 to GBX 863 and set a “buy” rating for the company in a research report on Wednesday, October 14th. Deutsche Bank boosted their target price on Land Securities Group from GBX 730 to GBX 750 and gave the company a “buy” rating in a research note on Monday, October 5th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 593 price target on shares of Land Securities Group in a research report on Thursday, October 15th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 654.33.

Insider Buying and Selling

In other Land Securities Group news, insider Mark Allan sold 16,800 shares of Land Securities Group stock in a transaction dated Friday, November 13th. The stock was sold at an average price of GBX 701, for a total transaction of £117,768. In the last ninety days, insiders bought 113 shares of company stock valued at $74,694. 0.50% of the stock is owned by company insiders.

About Land Securities Group

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.