Land Securities Group (LON:LAND) Posts Earnings Results

Land Securities Group (LON:LAND) released its earnings results on Thursday. The company reported GBX 51.40 EPS for the quarter, Digital Look Earnings reports. The company had revenue of £892 million during the quarter. Land Securities Group had a return on equity of 3.85% and a net margin of 27.98%.

Here are the key takeaways from Land Securities Group’s conference call:

• Landsec said customer demand remains very strong, with portfolio occupancy rising to 98%+ and the highest level in more than two decades, while rental values are growing at the fastest pace in nearly 20 years.
• FY2026 results showed 4.6% like-for-like net rental income growth, with office and retail both performing well, and EPRA earnings up 2.2% despite the impact of the Queen Anne’s Mansions sale.
• Management highlighted a much stronger operating leverage profile after cutting overheads by 15% to a 20-year low, which should allow more of future income growth to flow through to earnings and dividends.
• The balance sheet remains resilient, with 8.6-year average debt maturity, about 89-90% of debt fixed or hedged, and net debt to EBITDA expected to fall below 7x within two years as developments lease up.
• Landsec reiterated a constructive growth outlook, guiding to high-single-digit EPS growth in FY2028 and around 5% compound annual EPS growth through FY2030, supported mainly by existing portfolio reversion and current developments.

Land Securities Group Stock Down 1.7%

Shares of LON:LAND opened at GBX 573.50 on Friday. The stock has a fifty day simple moving average of GBX 583.35 and a two-hundred day simple moving average of GBX 613.01. The stock has a market capitalization of £4.27 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 12.39 and a beta of 1.13. Land Securities Group has a 12-month low of GBX 522.50 and a 12-month high of GBX 678.50. The company has a current ratio of 0.78, a quick ratio of 0.54 and a debt-to-equity ratio of 72.33.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LAND shares. The Goldman Sachs Group upgraded Land Securities Group to a “buy” rating and lowered their target price for the company from GBX 710 to GBX 690 in a research note on Monday, March 30th. UBS Group restated a “buy” rating and issued a GBX 705 target price on shares of Land Securities Group in a research note on Monday. Citigroup lowered their price objective on Land Securities Group from GBX 627 to GBX 604 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 897 price objective on shares of Land Securities Group in a research note on Thursday. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Land Securities Group currently has a consensus rating of “Moderate Buy” and an average price target of GBX 642.78.

About Land Securities Group

At Landsec, we build and invest in buildings, spaces and partnerships to create sustainable places, connect communities and realise potential. We are one of the largest real estate companies in Europe, with a £12 billion portfolio of retail, leisure, workspace and residential hubs. Landsec is shaping a better future by leading our industry on environmental and social sustainability while delivering value for our shareholders, great experiences for our guests and positive change for our communities.