LondonMetric Property
Market Cap
UK£2.1b
Last Updated
2021/01/24 02:46 UTC
Data Sources
Company Financials +
Executive Summary
LondonMetric is a FTSE 250 REIT that owns one of the UK's leading listed logistics platforms alongside a diversified long income portfolio, with 16 million sq ft under management. More Details
Rewards
Risk Analysis
Dividend of 3.63% is not well covered by earnings or forecast to be in the next 3 years
Snowflake Analysis
Proven track record with mediocre balance sheet.
Similar Companies
Share Price & News
How has LondonMetric Property's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: LMP is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: LMP's weekly volatility (4%) has been stable over the past year.
Market Performance
7 Day Return
-1.2%
LMP
-0.8%
GB REITs
-0.5%
GB Market
1 Year Return
-0.3%
LMP
-18.4%
GB REITs
-8.2%
GB Market
Return vs Industry: LMP exceeded the UK REITs industry which returned -18.4% over the past year.
Return vs Market: LMP exceeded the UK Market which returned -8.2% over the past year.
Shareholder returns
| LMP | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.2% | -0.8% | -0.5% |
| 30 Day | -2.4% | -2.1% | 2.9% |
| 90 Day | 4.2% | 9.3% | 15.2% |
| 1 Year | 3.5%-0.3% | -20.3%-18.4% | -4.5%-8.2% |
| 3 Year | 41.6%25.4% | -7.8%-7.7% | 3.7%-9.0% |
| 5 Year | 75.1%41.2% | 0.4%-4.1% | 42.1%14.4% |
Long-Term Price Volatility Vs. Market
How volatile is LondonMetric Property's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
How Much Is LondonMetric Property Plc (LON:LMP) Paying Its CEO?1 month ago | Simply Wall St
Have Insiders Sold LondonMetric Property Plc (LON:LMP) Shares Recently?2 months ago | Simply Wall St
LondonMetric Property Plc's (LON:LMP) Dismal Stock Performance Reflects Weak FundamentalsValuation
Is LondonMetric Property undervalued compared to its fair value and its price relative to the market?
22.07x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: LMP (£2.29) is trading above our estimate of fair value (£2.13)
Significantly Below Fair Value: LMP is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: LMP is poor value based on its PE Ratio (22.1x) compared to the GB REITs industry average (19.5x).
PE vs Market: LMP is good value based on its PE Ratio (22.1x) compared to the UK market (22.9x).
Price to Earnings Growth Ratio
PEG Ratio: LMP is poor value based on its PEG Ratio (112.1x)
Price to Book Ratio
PB vs Industry: LMP is overvalued based on its PB Ratio (1.3x) compared to the GB REITs industry average (0.8x).
Next Steps
Future Growth
How is LondonMetric Property forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
0.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: LMP's forecast earnings growth (0.2% per year) is below the savings rate (1%).
Earnings vs Market: LMP's earnings (0.2% per year) are forecast to grow slower than the UK market (25.3% per year).
High Growth Earnings: LMP's earnings are forecast to grow, but not significantly.
Revenue vs Market: LMP's revenue (5.2% per year) is forecast to grow slower than the UK market (6.6% per year).
High Growth Revenue: LMP's revenue (5.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: LMP's Return on Equity is forecast to be low in 3 years time (5.4%).
Next Steps
Past Performance
How has LondonMetric Property performed over the past 5 years?
-8.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: LMP has high quality earnings.
Growing Profit Margin: LMP's current net profit margins (77.6%) are higher than last year (34.5%).
Past Earnings Growth Analysis
Earnings Trend: LMP's earnings have declined by 8% per year over the past 5 years.
Accelerating Growth: LMP's earnings growth over the past year (198.6%) exceeds its 5-year average (-8% per year).
Earnings vs Industry: LMP earnings growth over the past year (198.6%) exceeded the REITs industry -16.9%.
Return on Equity
High ROE: LMP's Return on Equity (5.6%) is considered low.
Next Steps
Financial Health
How is LondonMetric Property's financial position?
Financial Position Analysis
Short Term Liabilities: LMP's short term assets (£56.8M) exceed its short term liabilities (£38.2M).
Long Term Liabilities: LMP's short term assets (£56.8M) do not cover its long term liabilities (£841.7M).
Debt to Equity History and Analysis
Debt Level: LMP's debt to equity ratio (52.1%) is considered high.
Reducing Debt: LMP's debt to equity ratio has reduced from 62% to 52.1% over the past 5 years.
Debt Coverage: LMP's debt is not well covered by operating cash flow (7.1%).
Interest Coverage: LMP's interest payments on its debt are well covered by EBIT (4.6x coverage).
Balance Sheet
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Dividend
What is LondonMetric Property current dividend yield, its reliability and sustainability?
3.63%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: LMP's dividend (3.63%) is higher than the bottom 25% of dividend payers in the UK market (1.53%).
High Dividend: LMP's dividend (3.63%) is low compared to the top 25% of dividend payers in the UK market (4.57%).
Stability and Growth of Payments
Stable Dividend: LMP's dividends per share have been stable in the past 10 years.
Growing Dividend: LMP's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (113.1%), LMP's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: LMP's dividends in 3 years are not forecast to be well covered by earnings (103.2% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
10.5yrs
Average management tenure
CEO
Andrew Jones (51 yo)
8yrs
Tenure
UK£2,827,000
Compensation
Mr. Andrew M. Jones, BSc (Hons), MRICS, has been the Chief Executive Officer and Executive Director of LondonMetric Property Plc since January 25, 2013. Mr. Jones manages dialogue and communication with sh...
CEO Compensation Analysis
Compensation vs Market: Andrew's total compensation ($USD3.86M) is above average for companies of similar size in the UK market ($USD1.91M).
Compensation vs Earnings: Andrew's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 8yrs | UK£2.83m | 0.46% £ 9.6m | |
| Finance Director & Executive Director | 11.75yrs | UK£1.63m | 0.31% £ 6.4m | |
| Investment Director | 10.83yrs | UK£474.00k | 0.38% £ 7.9m | |
| Head of Investor Relations | no data | no data | no data | |
| Head of Finance | no data | no data | no data | |
| Head of Long Income | 10.67yrs | no data | no data | |
| Company Secretary | no data | no data | no data | |
| Strategy Director | no data | no data | 0.041% £ 840.2k | |
| Portfolio Management Executive | no data | no data | no data | |
| Forecasting & Corporate Finance Executive | no data | no data | no data |
10.5yrs
Average Tenure
53yo
Average Age
Experienced Management: LMP's management team is seasoned and experienced (10.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 8yrs | UK£2.83m | 0.46% £ 9.6m | |
| Finance Director & Executive Director | 11.75yrs | UK£1.63m | 0.31% £ 6.4m | |
| Independent Non-Executive Director | 6.83yrs | UK£69.00k | 0.011% £ 228.7k | |
| Independent Non-Executive Director | 10.5yrs | UK£64.00k | 0.0022% £ 45.7k | |
| Independent Co-Founder & Non-Executive Chairman | 11yrs | UK£229.00k | 1.18% £ 24.4m | |
| Independent Non-Executive Director | 4.67yrs | UK£54.00k | 0.012% £ 243.6k | |
| Senior Independent Director | no data | UK£64.00k | 0.011% £ 237.8k | |
| Independent Non-Executive Director | 2.83yrs | UK£59.00k | 0.0025% £ 51.9k |
8.0yrs
Average Tenure
58.5yo
Average Age
Experienced Board: LMP's board of directors are considered experienced (8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: LMP insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 7.9%.
Top Shareholders
Company Information
LondonMetric Property Plc's company bio, employee growth, exchange listings and data sources
Key Information
- Name: LondonMetric Property Plc
- Ticker: LMP
- Exchange: LSE
- Founded: 2007
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: UK£2.070b
- Shares outstanding: 905.31m
- Website: https://www.londonmetric.com
Number of Employees
Location
- LondonMetric Property Plc
- One Curzon Street
- 1st Floor
- London
- East Lothian
- W1J 5HB
- United Kingdom
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| LMP | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | GBP | Nov 2007 |
| LNSP.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Nov 2007 |
| LMPL | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | GBP | Nov 2007 |
| 5PP | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Nov 2007 |
Biography
LondonMetric is a FTSE 250 REIT that owns one of the UK's leading listed logistics platforms alongside a diversified long income portfolio, with 16 million sq ft under management. It owns and manages desir...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/24 02:46 |
| End of Day Share Price | 2021/01/22 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2020/03/31 |
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.