Hammerson (LON:HMSO) Announces Earnings Results

Hammerson (LON:HMSO) released its earnings results on Wednesday. The real estate investment trust reported GBX 46 earnings per share for the quarter, Digital Look Earnings reports. Hammerson had a negative net margin of 346.30% and a negative return on equity of 25.94%.

Here are the key takeaways from Hammerson’s conference call:

• Strong FY25 results and clear 2026 guidance — net rental income rose 23% to £180m, portfolio value is up ~33% to >£3.5bn, NTA increased 6% to £3.94, and management guides to ~20% NRI growth and ~15% EPRA earnings growth for 2026.
• Operational momentum — occupancy at 96%, footfall +3m to 170m, record new leasing >£50m (adding ~£260m to first break) and a strong leasing pipeline supporting further rent upside.
• Stronger balance sheet and accretive M&A — ~£760m invested to buy out JV partners at yields >7.5%, LTV ~39%, ~£1bn liquidity and upgraded credit ratings, leaving capacity for disciplined acquisitions.
• Dividend and earnings linkage — dividend increased 6% with an 80–85% payout ratio and management intends dividends to grow as earnings rise.
• Key risks — management highlighted macro/consumer weakness (notably UK and France) and noted future growth depends on continued successful repositionings, leasing uplifts and accretive deals, so delays or weaker markets could hurt the outlook.

Hammerson Trading Up 5.7%

Shares of LON:HMSO traded up GBX 19.80 during midday trading on Wednesday, reaching GBX 368.80. 2,793,204 shares of the company’s stock were exchanged, compared to its average volume of 2,667,087. The stock has a market cap of £1.96 billion, a price-to-earnings ratio of 26.34, a P/E/G ratio of 1.68 and a beta of 2.30. Hammerson has a fifty-two week low of GBX 219.20 and a fifty-two week high of GBX 371.40. The firm’s 50 day simple moving average is GBX 341.25 and its two-hundred day simple moving average is GBX 313.34. The company has a debt-to-equity ratio of 80.77, a current ratio of 10.65 and a quick ratio of 1.28.

Wall Street Analysts Forecast Growth

HMSO has been the subject of several recent research reports. Panmure Gordon reaffirmed a “buy” rating and issued a GBX 330 price target on shares of Hammerson in a report on Monday, November 24th. Deutsche Bank Aktiengesellschaft raised their target price on Hammerson from GBX 300 to GBX 320 and gave the stock a “hold” rating in a research note on Monday, November 24th. Berenberg Bank lifted their price target on Hammerson from GBX 405 to GBX 409 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Finally, Jefferies Financial Group upped their price objective on shares of Hammerson from GBX 234 to GBX 245 and gave the company an “underperform” rating in a report on Tuesday, October 28th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Hammerson has an average rating of “Moderate Buy” and an average price target of GBX 339.83.

Insider Transactions at Hammerson

In other news, insider Rita-Rose Gagné sold 279,905 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of GBX 308, for a total transaction of £862,107.40. Also, insider Rob Wilkinson acquired 155,718 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was purchased at an average cost of GBX 323 per share, with a total value of £502,969.14. Insiders sold 542,391 shares of company stock worth $167,046,462 in the last ninety days. 10.27% of the stock is currently owned by corporate insiders.

About Hammerson

Hammerson is a cities business. An owner, operator and developer of prime urban real estate, with a portfolio value of £4.7billion (as at 30 June 2023), in some of the fastest growing cities in the UK, Ireland and France. Our portfolio and adjacent lands leverage our experience and capabilities to create and manage exceptional city centre destinations with the opportunity to drive value and reshape entire neighbourhoods. Our assets are high profile and play an important role in our communities, welcoming c.