OTCPK:LDSC.Y

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.


Snowflake Analysis

Moderate growth potential and overvalued.


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: LDSC.Y's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0%

LDSC.Y

6.6%

US REITs

3.8%

US Market


1 Year Return

-29.6%

LDSC.Y

-5.9%

US REITs

9.7%

US Market

Return vs Industry: LDSC.Y underperformed the US REITs industry which returned -5.9% over the past year.

Return vs Market: LDSC.Y underperformed the US Market which returned 9.7% over the past year.


Shareholder returns

LDSC.YIndustryMarket
7 Day0%6.6%3.8%
30 Day-14.7%13.4%11.4%
90 Dayn/a-8.2%6.8%
1 Year-27.4%-29.6%-2.0%-5.9%12.1%9.7%
3 Year-42.3%-50.5%18.5%3.9%36.2%27.2%
5 Yearn/a50.1%19.4%63.7%45.4%

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

No news available

Valuation

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

0.59x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: LDSC.Y ($7.1) is trading above our estimate of fair value ($4.8)

Significantly Below Fair Value: LDSC.Y is trading above our estimate of fair value.


Price To Earnings Ratio

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

PE vs Market: LDSC.Y is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: LDSC.Y is good value based on its PB Ratio (0.6x) compared to the US REITs industry average (1.5x).


Next Steps

Future Growth

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

69.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LDSC.Y is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.2%).

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

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

Revenue vs Market: LDSC.Y's revenue is expected to decline over the next 3 years (-2.6% per year).

High Growth Revenue: LDSC.Y's revenue is forecast to decline over the next 3 years (-2.6% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: LDSC.Y's Return on Equity is forecast to be low in 3 years time (5.5%).


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: LDSC.Y is currently unprofitable.

Growing Profit Margin: LDSC.Y is currently unprofitable.


Past Earnings Growth Analysis

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

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

Earnings vs Industry: LDSC.Y is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (5.2%).


Return on Equity

High ROE: LDSC.Y 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: LDSC.Y's short term assets (£1.9B) exceed its short term liabilities (£1.2B).

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


Debt to Equity History and Analysis

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

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

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

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


Balance Sheet


Next Steps

Dividend

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

4.97%

Forecast Dividend Yield


Dividend Yield vs Market

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

High Dividend: Unable to evaluate LDSC.Y'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 LDSC.Y's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: LDSC.Y is not paying a notable dividend for the US market.


Future Payout to Shareholders

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


Next Steps

Management

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

1.4yrs

Average management tenure


CEO

Mark Allan (47yo)

0.17

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 & Director14.75yrsUK£1.06m0.059% £3.8m
Robert Noel
Executive Officer0.25yrUK£1.62mno data
Colette O'Shea
MD of London & Retail Portfolios and Director2.42yrsUK£827.00k0.0090% £583.7k
Scott Parsons
Executive Officer1.33yrsUK£707.88kno data
Mark Allan
CEO & Executive Director0.17yrno datano data
Edward Thacker
Head of Investor Relationsno datano datano data
Tim Ashby
Group General Counsel & Company Secretaryno datano datano data
Jill Brady
Group Human Resources Director1.42yrsno datano data
Martin Wood
Group Head of Tax & Treasuryno datano datano data
Neil Pennell
Head of Design Innovation & Property Solutions12.17yrsno datano data

1.4yrs

Average Tenure

54yo

Average Age

Experienced Management: LDSC.Y's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Martin Greenslade
CFO & Director14.75yrsUK£1.06m0.059% £3.8m
Colette O'Shea
MD of London & Retail Portfolios and Director2.42yrsUK£827.00k0.0090% £583.7k
Mark Allan
CEO & Executive Director0.17yrno datano data
Christophe Evain
Independent Non-Executive Director1.17yrsno data0.0011% £70.4k
Cressida Hogg
Independent Non-executive Chairman1.92yrsUK£290.00k0.0056% £364.2k
Edward H. Carter
Senior Independent Director3.92yrsUK£84.00k0.0013% £82.7k
Nicholas Cadbury
Independent Non-Executive Director3.42yrsUK£90.00k0.0010% £65.8k
Stacey Rauch
Independent Non-Executive Director8.42yrsUK£73.00k0.0011% £70.4k
Madeleine Cosgrave
Independent Non-Executive Director1.42yrsUK£18.00k0.00066% £43.0k

2.4yrs

Average Tenure

53yo

Average Age

Experienced Board: LDSC.Y's board of directors are not considered experienced ( 2.4 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.


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: LDSC.Y
  • Exchange: OTCPK
  • Founded: 1944
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Market Cap: UK£5.122b
  • Listing Market Cap: UK£6.515b
  • Shares outstanding: 740.39m
  • 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 SharesUSUSDJan 1992
LANDLSE (London Stock Exchange)YesOrdinary SharesGBGBPJan 1992
LSU2DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
LANDLBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPJan 1992
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 24 million sq ft of well-connected, experience-led retail, leisure, workspace and residential hubs, with a growing focus on London. From the iconic Piccadilly Lights in the West End and the regeneration of London’s Victoria, to the creation of retail destinations at Westgate Oxford and Trinity Leeds, we own and manage some of the most successful and memorable real estate in the UK. We aim to lead our industry in critical long-term issues – from diversity and community employment, to carbon reduction and climate resilience. We deliver value for our shareholders, great experiences for our customers and positive change for our communities. At Landsec, everything is experience. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/06 06:11
End of Day Share Price2020/05/19 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.