Londonmetric Property PLC with ticker (LON:LMP) now has a potential upside of 32.3% according to Numis.
Numis set a target price of 230 GBX for the company, which when compared to the Londonmetric Property PLC share price of 174 GBX at opening today (19/09/2023) indicates a potential upside of 32.3%. Trading has ranged between 158 (52 week low) and 210 (52 week high) with an average of 2,558,726 shares exchanging hands daily. The market capitalisation at the time of writing is £1,873,401,640.
LondonMetric Property Plc is a United Kingdom-based real estate investment trust (REIT) that owns logistics platforms alongside a grocery-led long income portfolio, with approximately 17 million square feet under management. The Company is engaged in property investment and development. The Company is primarily focused on investing in urban logistics and grocery-led long income assets. The Company owns and manages desirable real estate that meets occupiers’ demands, delivers reliable, repetitive, and growing income-led returns, and outperforms over the long term. The Company is also focused on distribution and long income properties across the United Kingdom. Its properties include Dagenham; Islip; Croydon, Factory Lane; Bedford, Bedford Link Logistics Park; Warrington, Omega South; Cheltenham; Ollerton; Hemel Hempstead; Sunderland; Liskeard; Dartford, Kent, Dartford Heath; Birmingham; Bristol; Carlisle; Orpington, Sevenoaks Way; Luton, Dunstable Road, and Basildon.
Londonmetric Property PLC 32.3% potential upside indicated by Numis
- Written by: Charlotte Edwards
Latest Company News
LondonMetric has set out proposed transaction terms for Picton, including implied accretion, dividend impacts, asset allocations and shareholder support.
LondonMetric Property has set the scrip calculation price for its fourth quarterly interim dividend and confirmed the election date for shareholders.
LondonMetric Property Plc has acquired a portfolio of nine mature, purpose-built Premier Inn hotels from Whitbread PLC for £89.0 million, reflecting a net initial yield of 5.3%.
LondonMetric Property Plc has completed the disposal of £64.4 million of retail assets at a net initial yield of 4.98% and acquired £26.2 million of warehousing assets at a net initial yield of 6.90%.
LondonMetric has announced half year results showing net rental income up 14.6 percent to £221.2 million, supported by the Urban Logistics REIT acquisition.
LondonMetric expects net rental income to rise 14% to £219m, supported by high occupancy, rent reviews and asset management initiatives.
