- Revenue profit for the first half of 2024 meets estimates, achieving £186 million compared to the expected £185 million.
- Net rental income recorded at £269 million.
- EPRA net tangible assets per share came slightly below estimate at 871p versus 874p predicted.
- The net asset value per share is reported at 873p.
- Loan to value ratio is better than expected at 34.9%, versus an estimate of 35.5%.
- Dividend per share declared at 18.6p.
- Improved earnings per share (EPS) outlook due to higher like-for-like income growth and cost efficiencies.
- FY25 EPRA EPS projected to match FY24’s 50.1 pence, with FY26 expected to exceed this level.
- Despite £0.5 billion in net disposals, EPS guidance for FY25 remains strong.
- Dividend expected to grow by a low single-digit percentage this year.
- Like-for-like net rental income growth revised from 2.8% to closer to 4%.
- Property values have stabilised, with growth in rental values leading to a modest rise in capital values.
- Positive total return on equity recorded due to stabilized property values and rental income growth.
- Market sentiment towards the company’s shares includes 13 buy ratings, 7 holds, and 1 sell.
A look at Land Securities Group Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 5 | |
| Growth | 2 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on Smartkarma Smart Scores, Land Securities Group PLC appears to have a positive long-term outlook. With high scores in Value and Dividend, the company seems to be offering strong value and attractive dividend payouts for investors. Although the Growth and Resilience scores are slightly lower, indicating potential areas for improvement, Land Securities Group’s Momentum score is moderate, suggesting a steady pace in its operational performance.
Land Securities Group PLC, a property investment and management company operating primarily in the United Kingdom, has a diverse real estate portfolio that includes offices, retail spaces, supermarkets, and industrial facilities. Additionally, the company holds a small proportion of hotels, leisure properties, and residential real estate assets. Considering its robust Value and Dividend scores, Land Securities Group may be an appealing choice for investors seeking stable returns within the real estate sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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