LSE:LAND

Stock Analysis Report

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Executive Summary

At Landsec, we believe great places are for people to experience and are made with the experience of great people. More Details


Snowflake Analysis

Fair value with moderate growth potential.


Similar Companies

Share Price & News

How has Land Securities Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: LAND has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.8%

LAND

-0.3%

GB REITs

-1.0%

GB Market


1 Year Return

-43.3%

LAND

-21.4%

GB REITs

-14.8%

GB Market

Return vs Industry: LAND underperformed the UK REITs industry which returned -22.5% over the past year.

Return vs Market: LAND underperformed the UK Market which returned -14.5% over the past year.


Shareholder returns

LANDIndustryMarket
7 Day0.8%-0.3%-1.0%
30 Day5.5%-0.9%-1.6%
90 Day-1.2%-20.9%-3.6%
1 Year-42.6%-43.3%-24.4%-21.4%-11.6%-14.8%
3 Year-36.2%-43.2%-10.8%-9.9%-8.9%-20.2%
5 Year-51.8%-62.5%-16.5%-20.4%16.2%-10.0%

Price Volatility Vs. Market

How volatile is Land Securities Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

47.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: LAND (£5.4) is trading below our estimate of fair value (£10.26)

Significantly Below Fair Value: LAND is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: LAND is unprofitable, so we can't compare its PE Ratio to the GB REITs industry average.

PE vs Market: LAND is unprofitable, so we can't compare its PE Ratio to the UK market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate LAND's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: LAND is good value based on its PB Ratio (0.5x) compared to the GB REITs industry average (0.7x).


Next Steps

Future Growth

How is Land Securities Group forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

76.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LAND is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.2%).

Earnings vs Market: LAND is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: LAND's is expected to become profitable in the next 3 years.

Revenue vs Market: LAND's revenue is expected to decline over the next 3 years (-3.2% per year).

High Growth Revenue: LAND's revenue is forecast to decline over the next 3 years (-3.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: LAND's Return on Equity is forecast to be low in 3 years time (5%).


Next Steps

Past Performance

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

-81.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: LAND is currently unprofitable.

Growing Profit Margin: LAND is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: LAND is unprofitable, and losses have increased over the past 5 years at a rate of 81.5% per year.

Accelerating Growth: Unable to compare LAND's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: LAND is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (-24.7%).


Return on Equity

High ROE: LAND has a negative Return on Equity (-9.51%), as it is currently unprofitable.


Next Steps

Financial Health

How is Land Securities Group's financial position?


Financial Position Analysis

Short Term Liabilities: LAND's short term assets (£1.9B) exceed its short term liabilities (£1.2B).

Long Term Liabilities: LAND's short term assets (£1.9B) do not cover its long term liabilities (£4.4B).


Debt to Equity History and Analysis

Debt Level: LAND's debt to equity ratio (60.2%) is considered high.

Reducing Debt: LAND's debt to equity ratio has increased from 35.8% to 60.2% over the past 5 years.

Debt Coverage: LAND's debt is not well covered by operating cash flow (7.6%).

Interest Coverage: LAND is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

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

5.88%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate LAND's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate LAND's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if LAND's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if LAND's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: LAND is not paying a notable dividend for the UK market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of LAND's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

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

6.5yrs

Average management tenure


CEO

Mark Allan (48 yo)

0.50

Tenure

Mr. Mark Christopher Allan serveds as CEO & Executive Director at Land Securities Group Plc since April 14, 2020. He had been Chief Executive Officer and Director at St Modwen Properties since December 1, ...


Leadership Team

NamePositionTenureCompensationOwnership
Martin Greenslade
CFO & Director15.08yrsUK£1.04m0.062%
£ 2.5m
Colette O'Shea
MD of London & Retail Portfolios and Director2.75yrsUK£845.00k0.011%
£ 440.8k
Mark Allan
CEO & Executive Director0.50yrno data0.0080%
£ 320.7k
Edward Thacker
Head of Investor Relationsno datano datano data
Tim Ashby
Group General Counsel & Company Secretaryno datano datano data
Barry Hoffman
Group Human Resources Directorno datano datano data
Martin Wood
Group Head of Tax & Treasuryno datano datano data
Neil Pennell
Head of Design Innovation & Property Solutions12.5yrsno datano data
Despina Don-Wauchope
Head of Finance - Retail Portfolio6.83yrsno datano data
Ailish Christian-West
Head of Shopping Centres - Retail Portfolio6.5yrsno datano data
Polly Troughton
Head of Retail Parks and Leisure - Retail Portfolio6.5yrsno datano data
Clive Johnson
Group Head of Healthno datano datano data

6.5yrs

Average Tenure

55yo

Average Age

Experienced Management: LAND's management team is seasoned and experienced (6.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Martin Greenslade
CFO & Director15.08yrsUK£1.04m0.062%
£ 2.5m
Colette O'Shea
MD of London & Retail Portfolios and Director2.75yrsUK£845.00k0.011%
£ 440.8k
Mark Allan
CEO & Executive Director0.50yrno data0.0080%
£ 320.7k
Christophe Evain
Independent Non-Executive Director1.5yrsUK£70.00k0.0011%
£ 43.2k
Cressida Hogg
Independent Non-executive Chairman2.25yrsUK£375.00k0.0056%
£ 223.8k
Edward H. Carter
Senior Independent Director4.25yrsUK£95.00k0.0013%
£ 50.9k
Nicholas Cadbury
Independent Non-Executive Director3.75yrsUK£90.00k0.0010%
£ 40.4k
Stacey Rauch
Independent Non-Executive Director8.75yrsUK£75.00k0.0011%
£ 43.2k
Madeleine Cosgrave
Independent Non-Executive Director1.75yrsUK£70.00k0.00066%
£ 26.4k

2.8yrs

Average Tenure

54yo

Average Age

Experienced Board: LAND's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if 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

Land Securities Group plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Land Securities Group plc
  • Ticker: LAND
  • Exchange: LSE
  • Founded: 1944
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Market Cap: UK£4.004b
  • Shares outstanding: 740.52m
  • Website: https://www.landsec.com

Number of Employees


Location

  • Land Securities Group plc
  • 100 Victoria Street
  • London
  • East Lothian
  • SW1E 5JL
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LSGO.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDSep 2002
LANDLSE (London Stock Exchange)YesOrdinary SharesGBGBPSep 2002
LSU2DB (Deutsche Boerse AG)YesOrdinary SharesDEEURSep 2002
LANDLBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPSep 2002
LDSC.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDNov 2016

Biography

At Landsec, we believe great places are for people to experience and are made with the experience of great people. As one of the largest real estate companies in Europe, our £13.8 billion portfolio spans 2 ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/21 20:57
End of Day Share Price2020/10/21 00:00
Earnings2020/03/31
Annual Earnings2020/03/31


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.