ANALYST VIEWS: WHAT DO YOU MAKE OF LAND SECURITIES’ FIGURES?

 
Elizabeth Fournier
KEITH CRAWFORD | PEEL HUNT

Land Securities has the best niche exposures amongst leaders thus is our core recommendation within leader stocks. There appears to be little ‘drag’ factors in the results with all major categories of property showing material gains in the second-half.

MIRANDA COCKBURN | MATRIX GROUP

Management is showing it can beat the market both in its office and retail portfolios reducing void rates across the board and show attractive rental growth. Going forward we expect it to continue to show strong central London performance, the key being whether it can keep the momentum up in its retail portfolio.

ALAN CARTER | EVOLUTION SECURITIES

The real story here is a 19.4 per cent revaluation surplus on the development programme, which is usefully exposed to the central London office market. Lands has the largest exposure to central London offices in its investment and development portfolios of the majors.