ALAN CARTER INVESTEC
Land Securities always does developments well, or at least that is what we have been told by them. This statement is going to need to hold true over the coming two years as developments come to fruition, at a time when the first signs of weakness are starting to appear. ‘Hold’.
ALISON WATSON LIBERUM CAPITAL
Our key concern remains falling retail property values, in particular for shopping centres and shops, however fears that we may see a further pick up in retail voids has been mitigated by today’s statement. Land Secs’ relatively defensive portfolio remains attractive in the current environment. ‘Buy’.
JONATHAN JACKSON KILLIK AND CO.
Land Securities currently trades at a dividend yield of 3.9 per cent, an attractive rating given the group’s strong exposure to London, which continues to outperform the rest of the UK commercial property sector. Its strong finances allow it to take advantage of future opportunities. ‘Buy’.