LondonMetric Property
Market Cap
UK£2.0b
Last Updated
2020/02/16 21:36 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 17 million sq ft under management.
Rewards
Risk Analysis
Snowflake Analysis
Reasonable growth potential average dividend payer.
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 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
1.8%
LMP
3.1%
GB REITs
-0.2%
GB Market
1 Year Return
26.5%
LMP
15.5%
GB REITs
6.1%
GB Market
Return vs Industry: LMP exceeded the UK REITs industry which returned 15.5% over the past year.
Return vs Market: LMP exceeded the UK Market which returned 6.1% over the past year.
Shareholder returns
| LMP | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.8% | 3.1% | -0.2% |
| 30 Day | 1.3% | 2.7% | -1.8% |
| 90 Day | -1.3% | 7.2% | 4.0% |
| 1 Year | 31.7%26.5% | 20.6%15.5% | 11.8%6.1% |
| 3 Year | 79.0%57.2% | 31.3%12.8% | 17.5%2.6% |
| 5 Year | 89.3%50.2% | 32.7%6.3% | 34.8%3.7% |
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
2 weeks ago | Simply Wall St
Is LondonMetric Property Plc's (LON:LMP) CEO Salary Justified?1 month ago | Simply Wall St
Can You Imagine How LondonMetric Property's (LON:LMP) Shareholders Feel About The 57% Share Price Increase?2 months ago | Simply Wall St
Have Insiders Sold LondonMetric Property Plc (LON:LMP) Shares Recently?Valuation
Is LondonMetric Property undervalued compared to its fair value and its price relative to the market?
57.58x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: LMP (£2.37) is trading above our estimate of fair value (£2.19)
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 (57.6x) compared to the REITs industry average (15.1x).
PE vs Market: LMP is poor value based on its PE Ratio (57.6x) compared to the UK market (18.5x).
Price to Earnings Growth Ratio
PEG Ratio: LMP is poor value based on its PEG Ratio (1.1x)
Price to Book Ratio
PB vs Industry: LMP is overvalued based on its PB Ratio (1.4x) compared to the GB REITs industry average (1x).
Next Steps
Future Growth
How is LondonMetric Property forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
51.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: LMP's forecast earnings growth (51.7% per year) is above the savings rate (0.5%).
Earnings vs Market: LMP's earnings (51.7% per year) are forecast to grow faster than the UK market (12.2% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: LMP's revenue (5.9% per year) is forecast to grow faster than the UK market (3.4% per year).
High Growth Revenue: LMP's revenue (5.9% 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 (5.2%).
Next Steps
Past Performance
How has LondonMetric Property performed over the past 5 years?
-2.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: LMP has a large one-off loss of £18.1M impacting its September 30 2019 financial results.
Growing Profit Margin: LMP's current net profit margins (30.2%) are lower than last year .
Past Earnings Growth Analysis
Earnings Trend: LMP's earnings have declined by -2.5% per year over the past 5 years.
Accelerating Growth: LMP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: LMP had negative earnings growth (-83.8%) over the past year, making it difficult to compare to the REITs industry average (-21.1%).
Return on Equity
High ROE: LMP's Return on Equity (2%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is LondonMetric Property's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: LMP has a high level of physical assets or inventory.
Debt Coverage by Assets: LMP's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: LMP's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if LMP has a sufficient allowance for bad loans.
Low Risk Liabilities: LMP reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if LMP has an acceptable proportion of non-loan assets held.
Low Risk Deposits: LMP has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if LMP has an appropriate level of bad loans.
Next Steps
Dividend
What is LondonMetric Property's current dividend yield, its reliability and sustainability?
3.46%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: LMP's dividend (3.46%) is higher than the bottom 25% of dividend payers in the UK market (1.83%).
High Dividend: LMP's dividend (3.46%) is low compared to the top 25% of dividend payers in the UK market (5.1%).
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 (123.8%), LMP's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: LMP's dividends in 3 years are forecast to be covered by earnings (93.3% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.1yrs
Average board tenure
CEO
Andrew Jones (50yo)
7.1yrs
Tenure
UK£2,562,000
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 ($USD3.34M) is above average for companies of similar size in the UK market ($USD2.22M).
Compensation vs Earnings: Andrew's compensation has been consistent with company performance over the past year.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 7.1yrs | UK£2.56m | 0.50% £9.9m | |
| Finance Director & Executive Director | 10.8yrs | UK£1.48m | 0.33% £6.6m | |
| Non-Executive Director | 5.9yrs | UK£68.00k | 0.012% £237.0k | |
| Independent Non Executive Director | 9.6yrs | UK£63.00k | 0.0024% £47.3k | |
| Co-Founder & Non-Executive Chairman | 10.1yrs | UK£241.00k | 1.34% £26.5m | |
| Independent Non-Executive Director | 3.8yrs | UK£56.00k | 0.0082% £163.2k | |
| Senior Independent Director | 0yrs | UK£9.00k | 0.012% £246.5k | |
| Independent Non-Executive Director | 1.9yrs | UK£57.00k | 0.0027% £53.9k |
7.1yrs
Average Tenure
57.5yo
Average Age
Experienced Board: LMP's board of directors are considered experienced (7.1 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 5.5%.
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£1.988b
- Shares outstanding: 838.88m
- 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 17 million sq ft under management. It owns and manages desirable real estate that meets occupiers' demands, delivers reliable, repetitive and growing income-led returns and outperforms over the long term.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/16 21:36 |
| End of Day Share Price | 2020/02/14 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2019/03/31 |
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.