British Land Company plc (BLND) AI Stock Analysis

• Market Cap: £3.65B
• Dividend Yield: 4.3%
• Average Volume (3M): 6.00M
• Price to Earnings (P/E): 10.4
• Beta (1Y): 1.20
• Revenue Growth: -20.83%
• EPS Growth: N/A
• Country: UK
• Employees: 645
• Sector: Real Estate
• Sector Strength: 52
• Industry: REIT - Diversified
• EPS (TTM): 0.13
• Shares Outstanding: 999,165,040
• 10 Day Avg. Volume: 6,315,200
• 30 Day Avg. Volume: 5,999,655
• PEG Ratio: 0.12
• Price to Book (P/B): 0.67
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 24.21
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £450.00
• Price Target Upside: 23.83% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5

• Rating: 63 Neutral
• Price Target: 387.00p ▲(6.49%Upside)

The overall stock score for British Land Company plc is driven by its strong valuation metrics and positive corporate events, which enhance stakeholder confidence. However, the score is moderated by weak technical indicators and financial performance concerns due to volatility in revenue and cash flows. The absence of recent earnings call data limits insight into management's future guidance.

Positive Factors

Earnings and Growth

The company is guiding to ERV growth for the full year of 3-5%, and lifting earnings guidance from 27.9p to 28.1p as a result of the recent acquisition.

Income Opportunity

The company's shares offer a 7.4% earnings yield, presenting an attractive income opportunity for investors.

Portfolio Expansion

The recent portfolio acquisition of retail parks now takes this segment to 32% of the overall portfolio.

Negative Factors

Market Sentiment

The equity market remains deeply averse to any association with Offices, despite a conscious repositioning of the portfolio away from the troubled office sector.

Price Target and Valuation

Despite a slight increase in EPS estimates and a decrease in WACC, the 12-month price target implies a potential downside for the shares.

Stock Valuation

British Land's shares trade at a 32% discount to the estimated NTA, indicating undervaluation concerns.

British Land Company plc Business Overview & Revenue Model

Company Description

Our portfolio of high quality UK commercial property is focused on London Offices and Retail around the UK. We own or manage a portfolio valued at £13.7bn (British Land share: £10.3bn) as at 30 September 2020 making us one of Europe's largest listed real estate investment companies. Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles - Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 65% of our portfolio. Our Retail portfolio is focused on retail parks and shopping centres, and accounts for 31% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 53 acre redevelopment opportunity where we have plans to create a new neighbourhood for London. Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. In April 2016 British Land received the Queen's Award for Enterprise: Sustainable Development, the UK's highest accolade for business success for economic, social and environmental achievements over a period of five years.

How the Company Makes Money

British Land Company plc generates revenue primarily through rental income from its portfolio of commercial properties, which include offices, retail spaces, and leisure facilities. The company leases these properties to a diverse range of tenants, securing long-term rental agreements that provide a stable income stream. Additionally, British Land engages in property development and redevelopment projects, creating value through the enhancement and repositioning of its assets. The company also benefits from capital appreciation of its property holdings. Strategic partnerships and joint ventures with other real estate developers and investors amplify its market reach and capability to undertake large-scale projects.

British Land Company plc Financial Statement Overview

Summary

The company's financial performance is characterized by strong profitability metrics and a stable equity position. However, revenue and net income are volatile, and cash flow metrics show inconsistency, indicating potential risks.

Income Statement

The income statement shows a volatile revenue trend, with significant fluctuations in revenue growth rates. The gross profit margin is relatively strong at 72.91%, but the net profit margin is inconsistent, reflecting both positive and negative net incomes in recent years. The EBIT and EBITDA margins indicate a reasonable level of profitability, but the inconsistency in net income poses a challenge for stability.

Balance Sheet

The balance sheet reveals a stable equity position with an equity ratio of 64.34%. However, the debt-to-equity ratio of 0.50 suggests moderate leverage, which is typical for a REIT but could pose risks if not managed carefully. Return on Equity (ROE) is strong for the latest year at 5.92%, showing effective use of equity to generate profits, despite historical volatility.

Cash Flow

Cash flow analysis shows a positive operating cash flow to net income ratio, indicating effective cash generation from operations relative to net income. The free cash flow growth rate is highly volatile, with recent declines, raising concerns about sustainability. The free cash flow to net income ratio is inconsistent, reflecting challenges in maintaining stable cash flow.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	454.00M	575.00M	418.00M	412.00M	520.00M
Gross Profit	331.00M	429.00M	321.00M	279.00M	340.00M
EBITDA	454.00M	122.00M	-944.00M	1.05B	270.00M
Net Income	338.00M	-1.00M	-1.04B	963.00M	-1.03B
Balance Sheet
Total Assets	8.88B	7.97B	8.29B	9.91B	8.88B
Cash, Cash Equivalents and Short-Term Investments	57.00M	88.00M	125.00M	111.00M	154.00M
Total Debt	2.84B	2.34B	2.39B	2.75B	2.54B
Total Liabilities	3.17B	2.66B	2.77B	3.14B	2.89B
Stockholders Equity	5.71B	5.30B	5.51B	6.75B	5.92B
Cash Flow
Free Cash Flow	54.00M	97.00M	31.00M	-14.00M	-23.00M
Operating Cash Flow	270.00M	409.00M	240.00M	245.00M	149.00M
Investing Cash Flow	-853.00M	-172.00M	326.00M	-423.00M	910.00M
Financing Cash Flow	552.00M	-274.00M	-552.00M	98.00M	-1.10B

British Land Company plc Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 363.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BLND, the sentiment is Negative. The current price of 363.4 is below the 20-day moving average (MA) of 377.52, below the 50-day MA of 381.42, and below the 200-day MA of 369.20, indicating a bearish trend. The MACD of -2.40 indicates Positive momentum. The RSI at 39.21 is Neutral, neither overbought nor oversold. The STOCH value of 32.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:BLND.

British Land Company plc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LMP	82 Outperform	£4.61B	11.62	8.66%	6.67%	95.26%	―
UTG	77 Outperform	£4.01B	8.52	9.95%	4.50%	7.75%	276.67%
CREI	73 Outperform	£378.44M	9.42	9.14%	7.35%	7.81%	―
Sector *	65 Neutral	£989.01M	11.77	-0.08%	5.05%	10.32%	31.28%
BLND	63 Neutral	£3.65B	10.39	6.14%	4.30%	-20.83%	―
LAND	47 Neutral	£4.46B	11.27	6.13%	6.09%	-1.73%	―
PCTNF		$568.97M	11.33	7.04%	3.55%	―	―

British Land Company plc Corporate Events

British Land Updates £2 Billion Euro Medium Term Note Programme

British Land Company plc has announced the approval and publication of its updated £2 billion Euro Medium Term Note Programme Base Prospectus by the Financial Conduct Authority. This update is significant as it reflects the company’s ongoing efforts to secure flexible financing options, potentially impacting its financial strategy and stakeholder interests positively.

The most recent analyst rating on (GB:BLND) stock is a Buy with a £5.15 price target. To see the full list of analyst forecasts on British Land Company plc stock, see the GB:BLND Stock Forecast page.

British Land Aligns Executive Bonuses with Shareholder Interests

British Land Company PLC announced that, in line with its shareholder-approved Remuneration Policy, a portion of the cash bonuses for CEO Simon Carter and CFO David Walker was used to purchase company shares. These shares, acquired at 376 pence each, must be held for a minimum of three years. This move reflects the company’s commitment to aligning executive interests with shareholder value, potentially impacting its market positioning positively.

The most recent analyst rating on (GB:BLND) stock is a Buy with a £5.15 price target. To see the full list of analyst forecasts on British Land Company plc stock, see the GB:BLND Stock Forecast page.

British Land Announces Updated Share Capital Structure

British Land Company plc has announced its current share capital structure as of June 30, 2025, which consists of 1,010,431,255 ordinary shares, with 11,266,245 held in Treasury. This results in a total of 999,165,010 shares with voting rights. This information is crucial for shareholders and stakeholders to determine their voting rights percentage and comply with the FCA’s Disclosure Guidance and Transparency Rules.

The most recent analyst rating on (GB:BLND) stock is a Buy with a £5.15 price target. To see the full list of analyst forecasts on British Land Company plc stock, see the GB:BLND Stock Forecast page.

British Land Grants Share Options to Key Executives

British Land Company plc has granted options over ordinary shares to its CEO, Simon Carter, and Executive Committee member, Kelly Cleveland, under the company’s Save As You Earn (SAYE) Option Scheme. This move, disclosed in accordance with the UK Market Abuse Regulation, reflects the company’s ongoing commitment to aligning management interests with shareholder value, potentially impacting its operational focus and stakeholder relations.

The most recent analyst rating on (GB:BLND) stock is a Buy with a £5.15 price target. To see the full list of analyst forecasts on British Land Company plc stock, see the GB:BLND Stock Forecast page.

British Land Grants Performance Shares to Key Executives

British Land Company PLC announced the granting of conditional awards of ordinary shares under its Long-Term Incentive Plan to Executive Directors and other key managerial personnel. These Performance Shares are set to vest after three years, contingent on meeting specific performance conditions related to Total Accounting Return, Total Shareholder Return, and Environmental, Social, and Governance measures. This move aligns with the company’s strategy to incentivize leadership and align their interests with long-term company performance, potentially impacting stakeholder confidence and company operations positively.

The most recent analyst rating on (GB:BLND) stock is a Hold with a £4.25 price target. To see the full list of analyst forecasts on British Land Company plc stock, see the GB:BLND Stock Forecast page.

British Land Executives Increase Shareholdings Under Incentive Plan

British Land Company PLC announced that several executive directors and persons discharging managerial responsibilities have purchased ordinary shares and were awarded matching shares under the company’s Share Incentive Plan. This move, involving key figures such as the CEO and CFO, highlights the company’s commitment to aligning the interests of its leadership with shareholders, potentially strengthening stakeholder confidence in its strategic direction.

The most recent analyst rating on (GB:BLND) stock is a Buy with a £5.15 price target. To see the full list of analyst forecasts on British Land Company plc stock, see the GB:BLND Stock Forecast page.

Schroders Plc Increases Stake in British Land Company plc

British Land Company plc has announced a change in its voting rights, following an acquisition or disposal by Schroders Plc. The notification indicates that Schroders Plc has increased its voting rights in British Land to over 5%, marking a significant shift from its previous position. This change in voting rights could potentially impact British Land’s strategic decisions and influence its market positioning, as Schroders Plc now holds a more substantial stake in the company.

The most recent analyst rating on (GB:BLND) stock is a Buy with a £5.15 price target. To see the full list of analyst forecasts on British Land Company plc stock, see the GB:BLND Stock Forecast page.

British Land Releases 2025 Annual Report and AGM Notice

British Land Company plc has released its 2025 Annual Report and Accounts, along with the Notice of its Annual General Meeting (AGM), which will be held on July 15, 2025, in London. These documents have been made available to shareholders and are accessible on the company’s website and the National Storage Mechanism. This announcement underscores the company’s commitment to transparency and regulatory compliance, potentially impacting its stakeholder engagement and market positioning.

The most recent analyst rating on (GB:BLND) stock is a Buy with a £5.15 price target. To see the full list of analyst forecasts on British Land Company plc stock, see the GB:BLND Stock Forecast page.

British Land Announces Current Share Capital and Voting Rights

British Land Company plc has announced its current issued share capital as of May 30, 2025, which consists of 1,010,430,687 ordinary shares, with 11,266,245 held in Treasury. This results in a total of 999,164,442 shares with voting rights. This information is crucial for shareholders and stakeholders to determine their voting rights percentages and any necessary notifications to the company and the FCA, aligning with the FCA’s Disclosure Guidance and Transparency Rules.

The most recent analyst rating on (GB:BLND) stock is a Buy with a £5.15 price target. To see the full list of analyst forecasts on British Land Company plc stock, see the GB:BLND Stock Forecast page.

British Land to Host Investor Q&A Session

British Land Company PLC announced that Jonty McNuff, Head of Investor Relations and Strategy, will host a live Q&A session on 3 June 2025, following a replay of the company’s full-year results presentation. This initiative aims to engage current shareholders and potential investors, encouraging them to participate and submit questions, thereby enhancing investor relations and transparency.

The most recent analyst rating on (GB:BLND) stock is a Buy with a £5.15 price target. To see the full list of analyst forecasts on British Land Company plc stock, see the GB:BLND Stock Forecast page.

British Land Reports Robust Growth Amid Strong Market Demand

British Land Company plc reported strong operational and financial performance, with underlying profits up by 4% to £279 million, despite significant development activities. The company experienced above-inflation rental growth driven by strong demand in key markets, particularly retail parks, and a return to pre-pandemic occupancy levels in office spaces. The company’s strategic focus on leasing space at rents ahead of expectations, combined with cost control and asset management, has maintained earnings per share. British Land’s portfolio value increased by 1.6%, with retail parks showing a 7.1% rise, and the company is confident in achieving 3-5% annual rental growth across its portfolio. The balance sheet remains robust with significant financing activities and no refinancing needs until 2028, while sustainability efforts are highlighted by a 5-star GRESB rating.

The most recent analyst rating on (GB:BLND) stock is a Buy with a £5.15 price target. To see the full list of analyst forecasts on British Land Company plc stock, see the GB:BLND Stock Forecast page.

British Land Executives Acquire Shares to Align Interests

British Land Company plc announced that several of its executive directors and persons discharging managerial responsibilities have purchased ordinary shares and were awarded matching shares under the company’s Share Incentive Plan. This move, involving key figures such as the CEO and CFO, reflects a strategic effort to align management’s interests with those of shareholders, potentially enhancing stakeholder confidence and reinforcing the company’s commitment to long-term growth.

The most recent analyst rating on (GB:BLND) stock is a Buy with a £5.15 price target. To see the full list of analyst forecasts on British Land Company plc stock, see the GB:BLND Stock Forecast page.

British Land Updates Share Capital and Voting Rights

British Land Company plc announced that as of 30 April 2025, its issued share capital consists of 1,010,425,999 ordinary shares, with 11,266,245 shares held in Treasury. This results in a total of 999,159,754 shares with voting rights. This information is crucial for shareholders and stakeholders to determine their voting rights percentages and comply with the FCA’s Disclosure Guidance and Transparency Rules.

British Land Executives Acquire Shares, Reinforcing Stakeholder Alignment

British Land Company PLC announced that several executive directors and persons discharging managerial responsibilities have purchased ordinary shares and were awarded matching shares under the company’s Share Incentive Plan. This move signifies a commitment to aligning the interests of the company’s leadership with those of its shareholders, potentially strengthening stakeholder confidence and enhancing the company’s market positioning.

British Land’s Shareholding Adjusted by Bank of America

British Land Company plc has been notified of a change in major holdings by Bank of America Corporation, which involves an acquisition or disposal of financial instruments. The notification indicates that Bank of America now holds a total of 3.989152% of voting rights in British Land, a slight decrease from the previous 4.305439%. This adjustment in holdings could reflect strategic financial positioning by Bank of America and may impact British Land’s shareholder dynamics and market perception.

British Land Allots Shares to Non-Executive Director

British Land Company plc has announced the allotment of 2,617 ordinary shares to Mark Aedy, a Non-Executive Director, as part of his compensation. This transaction, executed outside a trading venue, reflects the company’s adherence to the UK Market Abuse Regulation, potentially impacting shareholder perception and corporate governance practices.