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BLND

British Land LSE:BLND Stock Report

Last Price

UK£5.23

Market Cap

UK£4.8b

7D

0.1%

1Y

4.5%

Updated

25 May, 2022

Data

Company Financials +
BLND fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance1/6
Financial Health2/6
Dividends3/6

BLND Stock Overview

Our portfolio of high quality UK commercial property is focused on London Offices and Retail around the UK.

British Land Competitors

Price History & Performance

Summary of all time highs, changes and price drops for British Land
Historical stock prices
Current Share PriceUK£5.23
52 Week HighUK£5.64
52 Week LowUK£4.42
Beta1.41
1 Month Change3.20%
3 Month Change3.44%
1 Year Change4.48%
3 Year Change-1.80%
5 Year Change-17.51%
Change since IPO107.54%

Recent News & Updates

Shareholder Returns

BLNDGB REITsGB Market
7D0.1%0.3%1.0%
1Y4.5%1.5%-2.8%

Return vs Industry: BLND exceeded the UK REITs industry which returned 2.7% over the past year.

Return vs Market: BLND exceeded the UK Market which returned -3% over the past year.

Price Volatility

Is BLND's price volatile compared to industry and market?
BLND volatility
BLND Average Weekly Movement4.5%
REITs Industry Average Movement3.4%
Market Average Movement6.0%
10% most volatile stocks in GB Market11.4%
10% least volatile stocks in GB Market3.0%

Stable Share Price: BLND is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: BLND's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1856613Simon Carterhttps://www.britishland.com

Our portfolio of high quality UK commercial property is focused on London Offices and Retail around the UK. We own or manage a portfolio valued at £13.7bn (British Land share: £10.3bn) as at 30 September 2020 making us one of Europe's largest listed real estate investment companies. Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles - Places People Prefer.

British Land Fundamentals Summary

How do British Land's earnings and revenue compare to its market cap?
BLND fundamental statistics
Market CapUK£4.85b
Earnings (TTM)UK£958.00m
Revenue (TTM)UK£492.00m

5.1x

P/E Ratio

9.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BLND income statement (TTM)
RevenueUK£492.00m
Cost of RevenueUK£129.00m
Gross ProfitUK£363.00m
Other Expenses-UK£595.00m
EarningsUK£958.00m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.03
Gross Margin73.78%
Net Profit Margin194.72%
Debt/Equity Ratio40.3%

How did BLND perform over the long term?

See historical performance and comparison

Dividends

4.2%

Current Dividend Yield

63%

Payout Ratio

Does BLND pay a reliable dividends?

See BLND dividend history and benchmarks
When do you need to buy BLND by to receive an upcoming dividend?
British Land dividend dates
Ex Dividend DateJun 23 2022
Dividend Pay DateJul 29 2022
Days until Ex dividend27 days
Days until Dividend pay date63 days

Does BLND pay a reliable dividends?

See BLND dividend history and benchmarks

Valuation

Is British Land undervalued compared to its fair value and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


18.2%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: BLND (£5.23) is trading below our estimate of fair value (£6.4)

Significantly Below Fair Value: BLND is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: BLND is good value based on its Price-To-Earnings Ratio (5.1x) compared to the UK REITs industry average (9.4x).

PE vs Market: BLND is good value based on its Price-To-Earnings Ratio (5.1x) compared to the UK market (15.3x).


Price to Earnings Growth Ratio

PEG Ratio: BLND's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: BLND is good value based on its Price-To-Book Ratio (0.7x) compared to the GB REITs industry average (0.9x).


Future Growth

How is British Land forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-25.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BLND's earnings are forecast to decline over the next 3 years (-25.5% per year).

Earnings vs Market: BLND's earnings are forecast to decline over the next 3 years (-25.5% per year).

High Growth Earnings: BLND's earnings are forecast to decline over the next 3 years.

Revenue vs Market: BLND's revenue is expected to decline over the next 3 years (-3.7% per year).

High Growth Revenue: BLND's revenue is forecast to decline over the next 3 years (-3.7% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BLND's Return on Equity is forecast to be low in 3 years time (3.7%).


Past Performance

How has British Land performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-26.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BLND has a large one-off gain of £678.0M impacting its March 31 2022 financial results.

Growing Profit Margin: BLND became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: BLND's earnings have declined by 26.6% per year over the past 5 years.

Accelerating Growth: BLND has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: BLND has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (129.6%).


Return on Equity

High ROE: BLND's Return on Equity (14.3%) is considered low.


Financial Health

How is British Land's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: BLND's short term assets (£134.0M) do not cover its short term liabilities (£434.0M).

Long Term Liabilities: BLND's short term assets (£134.0M) do not cover its long term liabilities (£2.7B).


Debt to Equity History and Analysis

Debt Level: BLND's net debt to equity ratio (39.2%) is considered satisfactory.

Reducing Debt: BLND's debt to equity ratio has increased from 36.1% to 40.3% over the past 5 years.

Debt Coverage: BLND's debt is not well covered by operating cash flow (9%).

Interest Coverage: BLND's interest payments on its debt are well covered by EBIT (16.2x coverage).


Balance Sheet


Dividend

What is British Land current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


4.19%

Current Dividend Yield

Upcoming Dividend Payment

TodayMay 26 2022Ex Dividend DateJun 23 2022Dividend Pay DateJul 29 202236 days from Ex DividendBuy in the next 27 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: BLND's dividend (4.19%) is higher than the bottom 25% of dividend payers in the UK market (1.8%).

High Dividend: BLND's dividend (4.19%) is low compared to the top 25% of dividend payers in the UK market (4.82%).


Stability and Growth of Payments

Stable Dividend: BLND's dividend payments have been volatile in the past 10 years.

Growing Dividend: BLND's dividend payments have fallen over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (63.3%), BLND's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (82.9%), BLND's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.3yrs

Average management tenure


CEO

Simon Carter (45 yo)

1.5yrs

Tenure

UK£1,149,000

Compensation

Mr. Simon Carter, MA, ACA, had been Chief Financial Officer of British Land Company Plc from May 21, 2018 to November 18, 2020 and serves its Director since May 2018. He serves as Chief Executive Officer o...


CEO Compensation Analysis

Compensation vs Market: Simon's total compensation ($USD1.44M) is below average for companies of similar size in the UK market ($USD3.35M).

Compensation vs Earnings: Simon's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: BLND's management team is considered experienced (2.3 years average tenure).


Board Members

Experienced Board: BLND's board of directors are considered experienced (4.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: BLND insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

British Land Company Plc's employee growth, exchange listings and data sources


Key Information

  • Name: British Land Company Plc
  • Ticker: BLND
  • Exchange: LSE
  • Founded: 1856
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Implied Market Cap: UK£4.847b
  • Shares outstanding: 926.85m
  • Website: https://www.britishland.com

Number of Employees


Location

  • British Land Company Plc
  • York House
  • 45 Seymour Street
  • London
  • Greater London
  • W1H 7LX
  • United Kingdom

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/25 00:00
End of Day Share Price2022/05/25 00:00
Earnings2022/03/31
Annual Earnings2022/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.