Loading...

Land Securities Group

LSE:LAND
Snowflake Description

Moderate growth potential second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LAND
LSE
£7B
Market Cap
  1. Home
  2. GB
  3. Real Estate
Company description

At Landsec, we believe great places are for people to experience and are made with the experience of great people. The last earnings update was 4 days ago. More info.


Add to Portfolio Compare Print
LAND Share Price and Events
7 Day Returns
-2.1%
LSE:LAND
0%
GB REITs
1.3%
GB Market
1 Year Returns
-7.7%
LSE:LAND
-6.7%
GB REITs
-5%
GB Market
LAND Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Land Securities Group (LAND) -2.1% -2.9% -0.5% -7.7% -29.5% -20.8%
GB REITs 0% 0.2% 1.9% -6.7% -5.9% 5.9%
GB Market 1.3% -1.6% 1.9% -5% 15.8% 2.5%
1 Year Return vs Industry and Market
  • LAND underperformed the REITs industry which returned -6.7% over the past year.
  • LAND underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -5% over the past year.
Price Volatility
LAND
Industry
5yr Volatility vs Market

Value

 Is Land Securities Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Land Securities Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Land Securities Group.

LSE:LAND Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 6x Analysts Estimates of Net Asset Value
Discount Rate (Cost of Equity) See below 6.8%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:LAND
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.52
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.523 (1 + (1- 19%) (57.76%))
0.844
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.844 * 6.65%)
6.84%

Discounted Cash Flow Calculation for LSE:LAND using 6x Analysts Estimates of Net Asset Value Model

In the case of Real Estate Investment Trusts (REITs) like Land Securities Group our preference is to use estimates of Adjusted Funds from Operations (AFFO) to calculate the intrinsic value using a discounted cash flow calculation.

However, in the case of Land Securities Group these estimates are not available, instead we are able to use analyst estimates of Net Asset Value (NAV).

The Net Asset Value (NAV) model is the most common intrinsic valuation methodology for REITs. The underlying idea is that you can value a REIT by valuing its real estate assets and then adjusting for its other assets and subtracting liabilities.

See our documentation to learn about this calculation.

LSE:LAND Net Asset Value (NAV)
Calculation Result
Average NAV from 6 analysts: GBP9,218.42 = GBP9,218.42 / 740 GBP12.45
LSE:LAND Discount to Share Price
Calculation Result
Value per share (GBP) From above. £12.45
Current discount Discount to share price of £8.84
= -1 x (£8.84 - £12.45) / £12.45
29%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Land Securities Group is available for.
Intrinsic value
29%
Share price is £8.84 vs Future cash flow value of £12.45
Current Discount Checks
For Land Securities Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Land Securities Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Land Securities Group's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Land Securities Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Land Securities Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:LAND PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in GBP £-0.16
LSE:LAND Share Price ** LSE (2019-05-17) in GBP £8.84
United Kingdom of Great Britain and Northern Ireland REITs Industry PE Ratio Median Figure of 44 Publicly-Listed REITs Companies 12.21x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 790 Publicly-Listed Companies 16.24x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Land Securities Group.

LSE:LAND PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:LAND Share Price ÷ EPS (both in GBP)

= 8.84 ÷ -0.16

-54.98x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Land Securities Group is loss making, we can't compare its value to the GB REITs industry average.
  • Land Securities Group is loss making, we can't compare the value of its earnings to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Land Securities Group's expected growth come at a high price?
Raw Data
LSE:LAND PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -54.98x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
53.1%per year
United Kingdom of Great Britain and Northern Ireland REITs Industry PEG Ratio Median Figure of 25 Publicly-Listed REITs Companies -0.28x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 573 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Land Securities Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Land Securities Group's assets?
Raw Data
LSE:LAND PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in GBP £13.41
LSE:LAND Share Price * LSE (2019-05-17) in GBP £8.84
United Kingdom of Great Britain and Northern Ireland REITs Industry PB Ratio Median Figure of 54 Publicly-Listed REITs Companies 0.93x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,368 Publicly-Listed Companies 1.51x
LSE:LAND PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:LAND Share Price ÷ Book Value per Share (both in GBP)

= 8.84 ÷ 13.41

0.66x

* Primary Listing of Land Securities Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Land Securities Group is good value based on assets compared to the GB REITs industry average.
X
Value checks
We assess Land Securities Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Land Securities Group has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Land Securities Group expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
53.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Land Securities Group expected to grow at an attractive rate?
  • Land Securities Group's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Land Securities Group's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Land Securities Group's revenues are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:LAND Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:LAND Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 53.1%
LSE:LAND Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts -3.8%
United Kingdom of Great Britain and Northern Ireland REITs Industry Earnings Growth Rate Market Cap Weighted Average 18%
United Kingdom of Great Britain and Northern Ireland REITs Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.8%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:LAND Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:LAND Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 666 444 692 1
2022-03-31 657 442 459 2
2021-03-31 660 465 546 4
2020-03-31 663 459 143 4
LSE:LAND Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-03-31 757 424 -119
2018-12-31 807 454 -214
2018-09-30 845 483 -241
2018-06-30 849 464 -247
2018-03-31 852 445 -252
2017-12-31 819 393 29
2017-09-30 796 341 242
2017-06-30 792 364 178
2017-03-31 787 386 113
2016-12-31 867 425 323
2016-09-30 948 464 534
2016-06-30 945 448 936

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Land Securities Group's earnings are expected to grow significantly at over 20% yearly.
  • Land Securities Group's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:LAND Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Land Securities Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:LAND Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31
2022-03-31 0.42 0.43 0.41 2.00
2021-03-31 0.50 0.50 0.50 1.00
2020-03-31 -0.12 -0.12 -0.12 1.00
LSE:LAND Past Financials Data
Date (Data in GBP Millions) EPS *
2019-03-31 -0.16
2018-12-31 -0.28
2018-09-30 -0.31
2018-06-30 -0.32
2018-03-31 -0.33
2017-12-31 0.04
2017-09-30 0.33
2017-06-30 0.24
2017-03-31 0.15
2016-12-31 0.44
2016-09-30 0.72
2016-06-30 1.26

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Land Securities Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Land Securities Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Land Securities Group has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Land Securities Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Land Securities Group's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Land Securities Group does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Land Securities Group's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Land Securities Group's 1-year growth to the GB REITs industry average as it is not currently profitable.
Earnings and Revenue History
Land Securities Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Land Securities Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:LAND Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 757.00 -119.00 79.00
2018-12-31 806.50 -213.50 78.50
2018-09-30 845.00 -241.00 78.00
2018-06-30 848.50 -246.50 79.50
2018-03-31 852.00 -252.00 81.00
2017-12-31 818.50 28.50 81.00
2017-09-30 796.00 242.00 81.00
2017-06-30 791.50 177.50 80.00
2017-03-31 787.00 113.00 79.00
2016-12-31 867.40 323.45 77.80
2016-09-30 947.80 533.90 76.60
2016-06-30 944.90 935.95 78.30
2016-03-31 942.00 1,338.00 80.00
2015-12-31 867.35 1,715.85 40.40
2015-09-30 792.70 2,093.70 0.80
2015-06-30 781.55 2,255.25 0.30
2015-03-31 770.40 2,416.80 -0.20
2014-12-31 743.50 2,083.35 19.50
2014-09-30 716.60 1,749.90 39.20
2014-06-30 716.55 1,433.25 19.40
2014-03-31 716.50 1,116.60 -0.40
2013-12-31 748.65 958.20 -0.50
2013-09-30 780.80 799.80 -0.60
2013-06-30 758.70 666.40 -0.70
2013-03-31 736.60 533.00 -0.80
2012-12-31 686.35 400.35 -0.90
2012-09-30 636.10 267.70 -1.00
2012-06-30 653.80 395.30 -1.05

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Land Securities Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Land Securities Group has efficiently used its assets last year compared to the GB REITs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Land Securities Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Land Securities Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Land Securities Group has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Land Securities Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Land Securities Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Land Securities Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Land Securities Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Land Securities Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Land Securities Group Company Filings, last reported 1 month ago.

LSE:LAND Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 9,920.00 3,781.00 14.00
2018-12-31 9,920.00 3,781.00 14.00
2018-09-30 10,251.00 3,729.00 8.00
2018-06-30 10,251.00 3,729.00 8.00
2018-03-31 10,492.00 3,624.00 62.00
2017-12-31 10,492.00 3,624.00 62.00
2017-09-30 10,863.00 3,138.00 205.00
2017-06-30 10,863.00 3,138.00 205.00
2017-03-31 11,516.00 2,956.00 30.00
2016-12-31 11,516.00 2,956.00 30.00
2016-09-30 11,445.90 2,984.20 16.90
2016-06-30 11,445.90 2,984.20 16.90
2016-03-31 11,699.00 2,905.00 25.00
2015-12-31 11,699.00 2,905.00 25.00
2015-09-30 11,188.20 3,665.40 16.70
2015-06-30 11,188.20 3,665.40 16.70
2015-03-31 10,606.30 3,825.20 14.30
2014-12-31 10,606.30 3,825.20 14.30
2014-09-30 9,344.60 4,141.40 22.00
2014-06-30 9,344.60 4,141.40 22.00
2014-03-31 8,418.30 3,371.20 20.90
2013-12-31 8,418.30 3,371.20 20.90
2013-09-30 7,797.20 3,843.60 43.80
2013-06-30 7,797.20 3,843.60 43.80
2013-03-31 7,486.70 3,771.20 41.70
2012-12-31 7,486.70 3,771.20 41.70
2012-09-30 7,172.20 3,204.00 19.30
2012-06-30 7,172.20 3,204.00 19.30
  • Land Securities Group's level of debt (38.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (40.1% vs 38.1% today).
  • Debt is not well covered by operating cash flow (11.2%, less than 20% of total debt).
  • Land Securities Group is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Land Securities Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Land Securities Group has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Land Securities Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.15%
Current annual income from Land Securities Group dividends. Estimated to be 5.53% next year.
If you bought £2,000 of Land Securities Group shares you are expected to receive £103 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Land Securities Group's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.99%).
  • Land Securities Group's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.21%).
Upcoming dividend payment

Purchase Land Securities Group before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:LAND Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland REITs Industry Average Dividend Yield Market Cap Weighted Average of 49 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.3%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:LAND Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2023-03-31 0.50 2.00
2022-03-31 0.50 6.00
2021-03-31 0.49 17.00
2020-03-31 0.47 6.00
LSE:LAND Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-05-14 0.456 5.140
2018-07-12 0.442 5.023
2017-05-18 0.411 4.134
2017-05-17 0.411 3.491
2016-06-15 0.450 4.043
2016-01-21 0.348 2.980
2015-11-10 0.348 2.766
2015-06-18 0.348 2.553
2015-05-19 0.348 2.529
2014-11-11 0.337 2.572
2014-07-17 0.337 2.978
2014-06-12 0.337 3.071
2014-05-15 0.337 2.954
2013-11-12 0.324 2.990
2013-06-11 0.324 3.276
2013-05-15 0.324 3.192
2013-01-23 0.316 3.516
2012-11-08 0.316 3.661
2012-07-18 0.316 3.735
2012-05-16 0.316 4.029
2012-05-15 0.316 4.027
2011-11-10 0.307 4.216
2011-07-26 0.307 4.057
2011-05-18 0.307 3.424
2011-05-17 0.307 3.737
2010-11-11 0.299 3.956
2010-06-18 0.299 4.465
2010-05-19 0.299 4.636
2009-06-01 0.551 8.461

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Land Securities Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess Land Securities Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Land Securities Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Land Securities Group has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Land Securities Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Rob Noel
COMPENSATION £1,693,000
AGE 54
TENURE AS CEO 7.1 years
CEO Bio

Mr. Robert M. Noel, known as Rob, BSc, MRICS, has been the Chief Executive Officer of Land Securities Group plc since April 1, 2012 and its Executive Director since January 1, 2010. Mr. Noel served as the Managing Director of London Portfolio at Land Securities Group from January 2010 until March 31, 2012. He is a chartered surveyor and has over 30 years’ experience in a number of sectors within the property market and extensive knowledge of the London commercial property market in particular. He has extensive knowledge of the London commercial property market in particular and of strategic development. Mr. Noel has significant executive leadership experience in different property sectors and has substantial listed company experience at a Board level. Prior to this, he was a Property Director from 2002 to September 30, 2009 and Executive Director from August 2002 to September 30, 2009 of Great Portland Estates PLC. Mr. Noel is a Trustee of the Landaid. He served as a Director of Nelson Bakewell from 1992 to 2002, a Non-Executive Director of the New West End Company, Director of Central London Business Improvement District, Chairman of the Westminster Property Association and a Member of the Council of the Westminster Property Owners’ Association. He is a Director of the European Public Real Estate Association (EPRA). He was appointed a Director of the British Property Federation in July 2016 and is also a Trustee of the Natural History Museum. Mr. Noel was educated at Marlborough College and Reading University.

CEO Compensation
  • Rob's compensation has been consistent with company performance over the past year.
  • Rob's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Land Securities Group management team in years:

8.2
Average Tenure
51.5
Average Age
  • The average tenure for the Land Securities Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Rob Noel

TITLE
CEO & Director
COMPENSATION
£2M
AGE
54
TENURE
7.1 yrs

Martin Greenslade

TITLE
CFO & Director
COMPENSATION
£1M
AGE
53
TENURE
13.7 yrs

Scott Parsons

TITLE
Executive Officer
COMPENSATION
£498K
AGE
48
TENURE
9.3 yrs

Colette O'Shea

TITLE
MD of London and Retail Portfolios
COMPENSATION
£509K
AGE
50
TENURE
5.1 yrs

Ed Thacker

TITLE
Director of Investor Relations

Tim Ashby

TITLE
Group General Counsel & Company Secretary
AGE
56

Diana Breeze

TITLE
Group Human Resource Director
AGE
50
TENURE
5.9 yrs

Martin Wood

TITLE
Group Head of Tax & Treasury

Neil Pennell

TITLE
Head of Design Innovation & Property Solutions
TENURE
11.1 yrs

Marc Geddes

TITLE
Head of Portfolio - West End
Board of Directors Tenure

Average tenure and age of the Land Securities Group board of directors in years:

2.6
Average Tenure
53.5
Average Age
  • The average tenure for the Land Securities Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Cressida Hogg

TITLE
Non-executive Chairman
COMPENSATION
£70K
AGE
48
TENURE
0.8 yrs

Rob Noel

TITLE
CEO & Director
COMPENSATION
£2M
AGE
54
TENURE
9.3 yrs

Martin Greenslade

TITLE
CFO & Director
COMPENSATION
£1M
AGE
53
TENURE
13.7 yrs

Colette O'Shea

TITLE
MD of London and Retail Portfolios
COMPENSATION
£509K
AGE
50
TENURE
1.3 yrs

Edward H. Carter

TITLE
Senior Independent Director
COMPENSATION
£80K
AGE
57
TENURE
2.8 yrs

Nick Cadbury

TITLE
Independent Non-Executive Director
COMPENSATION
£80K
AGE
52
TENURE
2.3 yrs

Chris Bartram

TITLE
Non-Executive Director
COMPENSATION
£70K
AGE
69
TENURE
9.8 yrs

Stacey Rauch

TITLE
Non-Executive Director
COMPENSATION
£80K
AGE
60
TENURE
7.3 yrs

Madeleine Cosgrave

TITLE
Independent Non-Executive Director
AGE
51
TENURE
0.3 yrs

Christophe Evain

TITLE
Independent Non-Executive Director
AGE
56
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Land Securities Group insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
15. May 19 Buy Cressida Hogg Individual 14. May 19 14. May 19 32,000 £8.76 £280,211
14. May 19 Buy Nicholas Cadbury Individual 14. May 19 14. May 19 3,000 £8.88 £26,626
10. Sep 18 Buy Christopher Bartram Individual 06. Sep 18 06. Sep 18 5,508 £9.00 £49,140
01. Aug 18 Sell Robert Noel Individual 31. Jul 18 31. Jul 18 -12,232 £9.45 £-115,605
01. Aug 18 Sell Martin Greenslade Individual 31. Jul 18 31. Jul 18 -19,811 £9.45 £-187,234
01. Aug 18 Buy Martin Greenslade Individual 31. Jul 18 31. Jul 18 10,500 £9.44 £99,078
X
Management checks
We assess Land Securities Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Land Securities Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Investors In Land Securities Group plc (LON:LAND) Should Consider This, First

Could Land Securities Group plc (LON:LAND) be an attractive dividend share to own for the long haul? Investors are often drawn to a company for its dividend.. … In this case, Land Securities Group likely looks attractive to investors, given its 4.7% dividend yield and a payment history of over ten years.! … Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1

Simply Wall St -

Have Insiders Been Selling Land Securities Group plc (LON:LAND) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Land Securities Group plc (LON:LAND). … The Last 12 Months Of Insider Transactions At Land Securities Group. … In total, Land Securities Group insiders sold more than they bought over the last year

Simply Wall St -

Volatility 101: Should Land Securities Group Shares Have Dropped 24%?

At this point some shareholders may be questioning their investment in Land Securities Group plc (LON:LAND), since the last five years saw the share price fall 24%. … By comparing earnings per share (EPS) and and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Over five years Land Securities Group's earnings per share dropped significantly, falling to a loss, with the share price also lower.

Simply Wall St -

Is Land Securities Group plc's (LON:LAND) CEO Pay Fair?

In 2012 Rob Noel was appointed CEO of Land Securities Group plc (LON:LAND). … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Rob Noel's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Read This Before Buying Land Securities Group plc (LON:LAND) Shares

So we'll take a look at whether insiders have been buying or selling shares in Land Securities Group plc (LON:LAND). … That means that an insider was selling shares at around the current price of UK£8.26. … All up, insiders sold more shares in Land Securities Group than they bought, over the last year.

Simply Wall St -

Should You Invest In Land Securities Group plc (LON:LAND)?

Land Securities Group plc is a UK£6.4b. … See our latest analysis for Land Securities Group … This term is very common in the REIT investing world as it provides a cleaner look at its cash flow from daily operations by excluding impact of one-off activities or non-cash items such as depreciation.

Simply Wall St -

What Is Land Securities Group plc's (LON:LAND) Share Price Doing?

Land Securities Group plc (LON:LAND), a reits company based in United Kingdom,. … Let’s take a look at Land Securities Group’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change … Check out our latest analysis for Land Securities Group

Simply Wall St -

Land Securities Group plc (LON:LAND): Ex-Dividend Is In 9 Days, Should You Buy?

If you are interested in cashing in on Land Securities Group plc's (LON:LAND) upcoming dividend of £0.15 per share, you only have 9 days left to buy the shares before its ex-dividend date, 21 June 2018, in time for dividends payable on the 27 July 2018. … Should you diversify into Land Securities Group and boost your portfolio income stream? … Check out our latest analysis for Land Securities Group?

Simply Wall St -

Why Land Securities Group plc's (LON:LAND) CEO Pay Matters To You

See our latest analysis for Land Securities Group What has LAND's performance been like? … Profitability of a company is a strong indication of LAND's ability to generate returns on shareholders' funds through corporate activities. … Usually I'd use market cap and profit as factors determining performance, however, LAND's negative earnings reduces the effectiveness of this method.

Simply Wall St -

What Kind Of Risk Should You Expect For Land Securities Group plc (LON:LAND)?

View our latest analysis for Land Securities Group An interpretation of LAND's beta With a five-year beta of 0.74, Land Securities Group appears to be a less volatile company compared to the rest of the market. … How LAND's assets could affect its beta An asset-heavy company tends to have a higher beta because the risk associated with running fixed assets during a downturn is highly expensive. … Thus, we can expect LAND to be more stable in the face of market movements, relative to its peers of similar size but with a higher portion of fixed assets on their books.

Simply Wall St -

Company Info

Description

At Landsec, we believe great places are for people to experience and are made with the experience of great people. We own and manage some of the most successful and recognisable assets in the country. Our £14.0 billion portfolio spans 23.9 million sq ft of real estate and is a diverse mix of offices, retail and leisure. We also aim to lead our industry in critical long-term issues – from diversity and community employment, to carbon and climate resilience. Everything we do is grounded in experience and begins with people. We deliver value for our shareholders, great experiences for our customers and positive change for our communities.

Details
Name: Land Securities Group plc
LAND
Exchange: LSE
Founded: 1944
£6,545,587,900
740,283,635
Website: http://www.landsec.com
Address: Land Securities Group plc
100 Victoria Street,
London,
East Lothian, SW1E 5JL,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE LAND Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
OTCPK LSGO.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB LSU2 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
BATS-CHIXE LANDL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
OTCPK LDSC.Y UNSPONSORED ADR Pink Sheets LLC US USD 03. Nov 2016
Number of employees
Current staff
Staff numbers
615
Land Securities Group employees.
Industry
Diversified REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/18 20:38
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/17
Last earnings filing: 2019/05/14
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.