Hammerson plc R.E.I.T. (GB:HMSO)
LSE:HMSO
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Earnings Data
Report Date
Jul 23, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
0.1Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive operational and financial reset: strong NRI growth (+23%), improved profitability (EPRA +5%, IFRS +ve), portfolio revaluation (+33%), high occupancy and footfall gains, accretive JV buyouts and solid liquidity. Management provided confident guidance for 2026 (NRI +20%, EPRA earnings +15%) and a clear plan to drive further value via leasing, repositioning and selective accretive acquisitions. Key negatives were that part of the earnings uplift was transaction-driven (acquisitions and disposals), EPS dilution from the equity issuance, remaining cost and finance headwinds, and macro risks in the UK/France that could blunt momentum. On balance, the highlights substantially outweigh the lowlights.Company Guidance
Strong Net Rental Income Growth
Net rental income increased 23% year-on-year to GBP 180m, driven by JV acquisitions and like-for-like rental growth of 3% (in line with guidance).
Earnings and Profitability Improvements
EPRA earnings rose 5% to GBP 104m (slightly above consensus); IFRS profit was GBP 232m, the first full-year positive IFRS result since 2017.
Dividend Growth and Payout Policy
Dividends increased 6% year-on-year; payout ratio maintained at 80%–85%, reflecting confidence in cash generation and earnings growth.
Material Portfolio Revaluation and NTA Upside
Portfolio valuation up 33% to just above GBP 3.5bn; NTA grew 6% to GBP 3.94; management highlighted a total accounting/property return around 10%–11% (capital return ~4%, income ~6%).
Occupancy, Footfall and Retail Sales Momentum
Occupancy rose to 96% (6 of 10 destinations >98%); footfall increased by 3m to 170m visitors in 2025; retailer sales exceeded GBP 3bn; 'new-for-old' repurposing delivered a 40% increase in sales densities vs pre-COVID.
Record Leasing Activity and Upside to ERV
Record new leasing of over GBP 50m signed in the year, producing ~GBP 260m of additional rent to first break; a positive leasing pipeline of ~GBP 20m early in 2026 and like-for-like ERV growth of 3% in 2025 with more to come.
Successful Strategic Acquisitions and Scale-Up
Invested ~GBP 760m to buy out four JV partners over 15 months at yields >7.5%; these acquisitions were accretive to earnings without adding management resource and strengthened rental-driven EBITDA.
Robust Balance Sheet and Liquidity
LTV at 39%; net debt-to-EBITDA (annualised for acquisitions) ~8.1x; liquidity ~GBP 1bn; GBP 104m of debt repaid since year-end; credit ratings were strengthened.
Clear and Positive 2026 Guidance
Management guides to NRI growth of c.20% for 2026 (including full-year effect of JV acquisitions) with like-for-like rental growth of 4%–5%, EPRA earnings growth ~15% (to ~GBP 120m) and EPS growth ~10%.
Operational Wins at Key Assets
Notable asset-level achievements: Cabot Circus M&S opening day footfall +50% and car park usage +25%; Oracle footfall +9% in H2 and scheme NRI +10%; Les 3 Fontaines (Cergy) now 90% occupied with extension pre-leased to Primark and Nike.
GB:HMSO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
GB:HMSO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | 339.49 p | 360.70 p | +6.25% |
Jul 31, 2025 | 278.09 p | 280.54 p | +0.88% |
Feb 26, 2025 | 264.76 p | 249.21 p | -5.87% |
Jul 25, 2024 | 264.09 p | 253.94 p | -3.84% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Hammerson plc R.E.I.T. (GB:HMSO) report earnings?
Hammerson plc R.E.I.T. (GB:HMSO) is schdueled to report earning on Jul 23, 2026, TBA (Confirmed).
What is Hammerson plc R.E.I.T. (GB:HMSO) earnings time?
Hammerson plc R.E.I.T. (GB:HMSO) earnings time is at Jul 23, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is the P/E ratio of Hammerson plc R.E.I.T. stock?
The P/E ratio of Hammerson plc R.E.I.T. is N/A.
What is GB:HMSO EPS forecast?
Currently, no data Available