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LondonMetric Property ( (GB:LMP) ) has provided an update.
LondonMetric Property has executed £91 million of investment activity, selling £64.4 million of mature retail assets and redeploying part of the proceeds into £26.2 million of higher-yielding warehouse assets. The disposals, which were in line with book value, include the sale of the Cantium retail park in South East London and a new M&S store in Weymouth, crystallising gains after completing asset management plans and lifting Cantium’s rent significantly. The company has now sold over £280 million of assets so far this financial year and is reallocating capital into two Booker-let logistics warehouses at materially higher net initial yields, consistent with its strategy of rotating out of stabilised retail into long-income logistics and triple net lease assets to enhance returns.
The most recent analyst rating on (GB:LMP) stock is a Buy with a £220.00 price target. To see the full list of analyst forecasts on LondonMetric Property stock, see the GB:LMP Stock Forecast page.
Spark’s Take on GB:LMP Stock
According to Spark, TipRanks’ AI Analyst, GB:LMP is a Outperform.
LondonMetric Property’s overall stock score is driven by strong financial performance and positive earnings call insights. The company’s strategic acquisitions and successful bond issuance further enhance its growth prospects. While technical indicators are stable, the attractive valuation and high dividend yield add to its appeal. However, attention to rising debt levels and profit consistency is advised.
To see Spark’s full report on GB:LMP stock, click here.
More about LondonMetric Property
LondonMetric Property is a UK-listed triple net lease real estate investment trust with a £7 billion portfolio focused on structurally supported sectors including logistics, healthcare, convenience, entertainment and leisure. The company owns and manages income-producing real estate designed to meet occupier demand and deliver reliable, growing, income-led returns over the long term.
Average Trading Volume: 6,496,750
Technical Sentiment Signal: Buy
Current Market Cap: £4.33B
See more data about LMP stock on TipRanks’ Stock Analysis page.