Land Securities Group (LON:LAND) Releases Earnings Results

Land Securities Group (LON:LAND) announced its earnings results on Thursday. The company reported GBX 51.40 EPS for the quarter, Digital Look Earnings reports. The business had revenue of £892 million for the quarter. Land Securities Group had a return on equity of 3.85% and a net margin of 27.98%.

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

• Landsec said customer demand remains very strong, with portfolio occupancy rising to 98%+ and the highest level in more than two decades, while rental values are growing at the fastest pace in nearly 20 years.
• FY2026 results showed 4.6% like-for-like net rental income growth, with office and retail both performing well, and EPRA earnings up 2.2% despite the impact of the Queen Anne’s Mansions sale.
• Management highlighted a much stronger operating leverage profile after cutting overheads by 15% to a 20-year low, which should allow more of future income growth to flow through to earnings and dividends.
• The balance sheet remains resilient, with 8.6-year average debt maturity, about 89-90% of debt fixed or hedged, and net debt to EBITDA expected to fall below 7x within two years as developments lease up.
• Landsec reiterated a constructive growth outlook, guiding to high-single-digit EPS growth in FY2028 and around 5% compound annual EPS growth through FY2030, supported mainly by existing portfolio reversion and current developments.

Land Securities Group Trading Up 2.3%

Shares of LAND stock traded up GBX 13 on Thursday, reaching GBX 583.50. 2,335,662 shares of the stock were exchanged, compared to its average volume of 15,807,810. The company has a debt-to-equity ratio of 72.33, a current ratio of 0.78 and a quick ratio of 0.54. Land Securities Group has a one year low of GBX 522.50 and a one year high of GBX 678.50. The stock has a market cap of £4.35 billion, a PE ratio of 17.52, a P/E/G ratio of 12.39 and a beta of 1.13. The stock has a 50 day moving average price of GBX 584.03 and a 200 day moving average price of GBX 613.48.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Citigroup reduced their price objective on Land Securities Group from GBX 627 to GBX 604 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. The Goldman Sachs Group raised Land Securities Group to a “buy” rating and cut their price target for the company from GBX 710 to GBX 690 in a report on Monday, March 30th. UBS Group reiterated a “buy” rating and set a GBX 705 price target on shares of Land Securities Group in a research report on Monday. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 897 price objective on shares of Land Securities Group in a report on Thursday. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 642.78.

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.