LSE:LMP

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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


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

LMPIndustryMarket
7 Day-1.2%-0.8%-0.5%
30 Day-2.4%-2.1%2.9%
90 Day4.2%9.3%15.2%
1 Year3.5%-0.3%-20.3%-18.4%-4.5%-8.2%
3 Year41.6%25.4%-7.8%-7.7%3.7%-9.0%
5 Year75.1%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

Valuation

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


Next Steps

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).


Next Steps

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

NamePositionTenureCompensationOwnership
Andrew Jones
CEO & Executive Director8yrsUK£2.83m0.46%
£ 9.6m
Martin McGann
Finance Director & Executive Director11.75yrsUK£1.63m0.31%
£ 6.4m
Valentine Beresford
Investment Director10.83yrsUK£474.00k0.38%
£ 7.9m
Gareth Price
Head of Investor Relationsno datano datano data
Jackie Jessop
Head of Financeno datano datano data
William Evers
Head of Long Income10.67yrsno datano data
Jadzia Duzniak
Company Secretaryno datano datano data
Andrew Smith
Strategy Directorno datano data0.041%
£ 840.2k
Nick Minto
Portfolio Management Executiveno datano datano data
Ritesh Patel
Forecasting & Corporate Finance Executiveno datano datano 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

NamePositionTenureCompensationOwnership
Andrew Jones
CEO & Executive Director8yrsUK£2.83m0.46%
£ 9.6m
Martin McGann
Finance Director & Executive Director11.75yrsUK£1.63m0.31%
£ 6.4m
Rosalyn S. Wilton
Independent Non-Executive Director6.83yrsUK£69.00k0.011%
£ 228.7k
James Dean
Independent Non-Executive Director10.5yrsUK£64.00k0.0022%
£ 45.7k
Patrick Vaughan
Independent Co-Founder & Non-Executive Chairman11yrsUK£229.00k1.18%
£ 24.4m
Andrew Livingston
Independent Non-Executive Director4.67yrsUK£54.00k0.012%
£ 243.6k
Robert Fowlds
Senior Independent Directorno dataUK£64.00k0.011%
£ 237.8k
Suzanne Lee Avery
Independent Non-Executive Director2.83yrsUK£59.00k0.0025%
£ 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LMPLSE (London Stock Exchange)YesOrdinary SharesGBGBPNov 2007
LNSP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 2007
LMPLBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPNov 2007
5PPDB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/24 02:46
End of Day Share Price2021/01/22 00:00
Earnings2020/09/30
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.