Hammerson plc R.E.I.T. (HMSO) AI Stock Analysis

• Market Cap: £1.88B
• Dividend Yield: 4.33%
• Average Volume (3M): 827.00K
• Price to Earnings (P/E): 25.0
• Beta (1Y): 1.20
• Revenue Growth: 16.30%
• EPS Growth: N/A
• Country: UK
• Employees: 125
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Retail
• EPS (TTM): 0.10
• Shares Outstanding: 531,622,200
• 10 Day Avg. Volume: 594,517
• 30 Day Avg. Volume: 826,999
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.76
• Price to Sales (P/S): 11.90
• P/FCF Ratio: -9.26
• 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: £333.25
• Price Target Upside: -6.02% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 8
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: 379.00p ▲(6.88% Upside)

Hammerson plc's overall stock score is driven by positive technical indicators and strategic corporate events, which bolster confidence in its future prospects. However, financial performance challenges, particularly in profitability and cash flow, weigh down the score. The valuation is mixed, with a high P/E ratio offset by a solid dividend yield.

Positive Factors

Revenue Growth

Reported positive revenue growth indicates improving tenant rents or occupancy, which supports recurring cash flow generation for a retail REIT. Sustained top-line growth over 2-6 months can bolster leasing momentum, underwriting for developments and strengthen long-term income resilience.

Strategic Corporate Actions

Targeted acquisitions and successful bond issuance represent structural moves to enhance portfolio quality and liquidity. Acquisitions can add stable rental income and scale, while access to debt markets funds development and refurbishment, supporting durable value creation over months.

Rental Income Model

A rental-centric business model yields recurring contractually-backed income from diverse retail and mixed-use tenants. This predictable cash flow base supports long-term dividend capacity and funds property investment, making revenue less cyclical than transactional businesses over the medium term.

Negative Factors

Negative Free Cash Flow

Material negative free cash flow constrains Hammerson's ability to fund capex, developments and dividends internally. Persisting cash shortfalls elevate reliance on external financing, increasing vulnerability to market conditions and reducing strategic flexibility across the next several months.

High Leverage

Elevated leverage raises interest burden and refinancing risk for a REIT, especially amid funding needs for developments. High debt amplifies sensitivity to rate moves and tenant cashflow volatility, limiting capacity for opportunistic investment and increasing balance-sheet fragility over the medium term.

Consistent Net Losses

Ongoing net losses and negative ROE erode equity and signal that operating performance hasn't covered costs. For a property company, persistent losses undermine dividend sustainability, restrict reinvestment and reduce investor confidence unless operational margins and cash flow reverse.

Hammerson plc R.E.I.T. Business Overview & Revenue Model

Company Description

At Hammerson, we create vibrant, continually evolving spaces, in and around major cities, where people and brands want to be. We seek to deliver value for all our stakeholders and to create a positive and sustainable impact for generations to come. We own and operate high-quality flagship destinations and have investments in premium outlets in selected European countries and have a City Quarters strategy to evolve our portfolio beyond retail.

How the Company Makes Money

Hammerson generates revenue primarily through rental income from its extensive portfolio of retail and mixed-use properties. The company leases space to a variety of tenants, including retail brands, restaurants, and entertainment venues, which provides a steady stream of rental payments. Additionally, Hammerson derives income from property management services and ancillary services, such as advertising and sponsorships within its properties. The company may also benefit from development projects that increase the value of its assets, as well as strategic partnerships with retailers that enhance occupancy rates and drive sales. Economic factors, consumer trends, and location desirability significantly influence Hammerson's earnings, making its revenue model closely tied to the retail real estate market.

Hammerson plc R.E.I.T. Financial Statement Overview

Summary

Hammerson plc faces challenges with profitability and cash flow generation, reflected in consistent net losses and negative free cash flow. While the balance sheet shows some stability, high leverage and negative return on equity highlight financial risks. The company needs to address revenue growth and profitability to improve its financial standing.

Income Statement

The company's revenue has shown a negative growth trend, decreasing from the previous year. Despite a positive EBIT and EBITDA margin in 2024, the large net losses indicate challenges in profitability, affecting the overall financial health. The gross profit margin also declined, reflecting cost pressures or operational inefficiencies.

Balance Sheet

The balance sheet shows a relatively stable equity ratio, which is a positive sign of financial stability. However, the debt-to-equity ratio is high, indicating significant leverage that could pose risks if not managed carefully. Return on equity remains negative due to consistent net losses, highlighting ongoing profitability challenges.

Cash Flow

Operating cash flow has decreased significantly, and the free cash flow is negative, indicating cash constraints. Although there was a substantial investment cash inflow, the free cash flow to net income ratio remains concerning. The company needs to improve its cash flow generation to enhance financial flexibility.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	85.15M	116.70M	127.80M	131.40M	127.70M	219.90M
Gross Profit	90.00M	67.20M	84.00M	87.90M	82.90M	94.00M
EBITDA	54.35M	27.80M	9.70M	17.60M	-5.90M	-1.64B
Net Income	29.75M	-526.30M	-51.40M	-164.20M	-429.10M	-1.73B
Balance Sheet
Total Assets	3.59B	3.48B	4.33B	4.54B	4.91B	5.91B
Cash, Cash Equivalents and Short-Term Investments	554.40M	737.90M	472.30M	218.80M	315.10M	409.50M
Total Debt	1.55B	1.52B	1.67B	1.69B	1.87B	2.31B
Total Liabilities	1.73B	1.66B	1.87B	1.95B	2.17B	2.70B
Stockholders Equity	1.85B	1.82B	2.46B	2.59B	2.75B	3.21B
Cash Flow
Free Cash Flow	48.45M	-150.00M	19.60M	33.20M	-91.40M	-101.10M
Operating Cash Flow	54.15M	4.50M	38.30M	69.60M	-70.30M	-82.40M
Investing Cash Flow	177.50M	475.00M	261.30M	154.10M	-11.40M	253.10M
Financing Cash Flow	-138.80M	-211.80M	-45.00M	-322.70M	-363.70M	207.50M

Hammerson plc R.E.I.T. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 354.60
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HMSO, the sentiment is Positive. The current price of 354.6 is above the 20-day moving average (MA) of 342.12, above the 50-day MA of 326.06, and above the 200-day MA of 293.52, indicating a bullish trend. The MACD of 7.61 indicates Negative momentum. The RSI at 66.51 is Neutral, neither overbought nor oversold. The STOCH value of 89.85 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:HMSO.

Hammerson plc R.E.I.T. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LMP	80 Outperform	£4.67B	13.38	7.22%	6.67%	43.70%	40.28%
BLND	75 Outperform	£4.15B	9.16	6.14%	5.85%	-20.83%	―
LAND	73 Outperform	£4.83B	19.42	3.85%	6.34%	10.69%	135.58%
NRR	71 Outperform	£310.25M	10.69	6.94%	9.66%	84.02%	53.97%
SHC	68 Neutral	£2.80B	8.52	8.66%	2.58%	-0.04%	655.16%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
HMSO	64 Neutral	£1.88B	24.97	3.09%	4.33%	16.30%	―

Hammerson plc R.E.I.T. Corporate Events

Hammerson Sets Date for 2025 Full-Year Results Announcement

Hammerson plc has announced that it will publish its full-year results for the financial year ended 31 December 2025 on 25 February 2026, with an analyst presentation scheduled that morning in London and further access details to be made available via its investor relations website. The simultaneous release of this announcement across London, Johannesburg and Dublin underlines Hammerson’s multi-market listing structure and signals the forthcoming update as a key event for stakeholders tracking the performance and strategy of the retail-focused REIT.

The most recent analyst rating on (GB:HMSO) stock is a Hold with a £357.00 price target. To see the full list of analyst forecasts on Hammerson plc R.E.I.T. stock, see the GB:HMSO Stock Forecast page.

Insider-Related Share Purchase Disclosed at Hammerson

Hammerson plc reported that Clare Wilkinson, a person closely associated with executive director and PDMR Rob Wilkinson, has acquired 155,718 ordinary shares in the company at a price of £3.226856 per share on 19 December 2025 via the London Stock Exchange, for a total consideration of approximately £502,480. The transaction, disclosed under UK Market Abuse Regulation and simultaneously released in London, Johannesburg and Dublin, underscores ongoing insider-related share dealings that may be interpreted by investors as a signal of confidence in the company’s prospects and governance transparency.

The most recent analyst rating on (GB:HMSO) stock is a Buy with a £3.35 price target. To see the full list of analyst forecasts on Hammerson plc R.E.I.T. stock, see the GB:HMSO Stock Forecast page.

Hammerson CEO Rita-Rose Gagné Sells 150,000 Shares in REIT

Hammerson plc has disclosed that its chief executive and executive director, Rita-Rose Gagné, has sold a total of 150,000 ordinary shares of 5 pence each in the company on the London Stock Exchange over two days, 16 and 17 December 2025, at an aggregate price of £3.10326 per share for total proceeds of £465,489.75. The transaction, notified as required under the UK Market Abuse Regulation, indicates a significant personal share disposal by the company’s top executive and has been formally communicated to investors across its main listing venues, underscoring Hammerson’s regulatory compliance and transparency obligations to shareholders.

The most recent analyst rating on (GB:HMSO) stock is a Buy with a £3.35 price target. To see the full list of analyst forecasts on Hammerson plc R.E.I.T. stock, see the GB:HMSO Stock Forecast page.

Hammerson Appoints New CEO with Share Compensation Package

Hammerson plc announced the appointment of Rob Wilkinson as Chief Executive Officer Designate, effective from December 15, 2025, and as CEO from January 1, 2026. To compensate for remuneration arrangements forfeited upon leaving his previous employer, Wilkinson received share awards under Listing Rule 9.3.2, which will vest in stages from 2026 to 2029. This move aligns with the Directors’ Remuneration Policy approved by shareholders, indicating a strategic effort to secure leadership continuity and stability.

The most recent analyst rating on (GB:HMSO) stock is a Buy with a £3.35 price target. To see the full list of analyst forecasts on Hammerson plc R.E.I.T. stock, see the GB:HMSO Stock Forecast page.

Hammerson Adjusts Share Capital and Voting Rights

Hammerson plc announced the transfer of 868,426 ordinary shares from treasury to cover options under its Restricted Share Scheme, affecting its total voting rights. The company’s issued share capital now consists of 532,054,593 ordinary shares, with 531,622,194 voting rights, a key figure for shareholders to determine their interest notifications under regulatory rules.

The most recent analyst rating on (GB:HMSO) stock is a Buy with a £3.35 price target. To see the full list of analyst forecasts on Hammerson plc R.E.I.T. stock, see the GB:HMSO Stock Forecast page.

Hammerson CEO Exercises Share Options, Sells Shares for Tax Liabilities

Hammerson plc announced that its Chief Executive and Executive Director, Rita-Rose Gagné, exercised her nil-cost options over ordinary shares granted under the company’s Restricted Share Scheme. On December 9, 2025, she sold 416,131 shares to cover tax and national insurance liabilities, retaining 452,295 shares. This transaction, conducted in accordance with the UK Market Abuse Regulation, reflects the company’s ongoing commitment to transparent executive compensation practices and may influence stakeholder perceptions of executive alignment with shareholder interests.

The most recent analyst rating on (GB:HMSO) stock is a Buy with a £3.35 price target. To see the full list of analyst forecasts on Hammerson plc R.E.I.T. stock, see the GB:HMSO Stock Forecast page.

Hammerson plc Announces Directorate Change

Hammerson plc, a real estate investment trust, announced a change in its board of directors. Méka Brunel, a Non-Executive Director, will step down from her role at the end of December 2025. Her contributions to the company, particularly in the Remuneration and Nomination & Governance Committees, have been acknowledged by the Chairman, Robert Noel, who will join the Remuneration Committee starting January 2026. The company confirmed that Brunel will receive her pro-rated fee until her departure, with no additional remuneration or payment for loss of office.

The most recent analyst rating on (GB:HMSO) stock is a Hold with a £343.00 price target. To see the full list of analyst forecasts on Hammerson plc R.E.I.T. stock, see the GB:HMSO Stock Forecast page.

Hammerson Acquires Full Stake in The Oracle, Boosts Earnings Outlook

Hammerson plc has announced the acquisition of the remaining 50% interest in The Oracle, a top retail and leisure destination in Reading, UK, from the Abu Dhabi Investment Authority for £104.5 million. This acquisition, alongside strong trading performance and upgraded EPRA earnings guidance, is expected to enhance the company’s financial outlook. The Oracle has seen significant investment and leasing activity, with new flagship stores and increased footfall contributing to a positive financial trajectory. The company’s proactive refinancing and acquisition strategy have strengthened its balance sheet, with expectations of continued growth in 2026 and 2027, supporting its medium-term guidance of an 8-10% EPRA EPS CAGR.

The most recent analyst rating on (GB:HMSO) stock is a Sell with a £245.00 price target. To see the full list of analyst forecasts on Hammerson plc R.E.I.T. stock, see the GB:HMSO Stock Forecast page.

Hammerson plc Reports Director-Related Share Transaction

Hammerson plc announced a transaction involving the purchase of ordinary shares by Shan Annous, a person closely associated with Habib Annous, a Non-Executive Director, under a dividend reinvestment plan. This transaction, conducted on the London Stock Exchange, aligns with the UK Market Abuse Regulation and reflects ongoing shareholder engagement through reinvestment strategies, potentially impacting the company’s market perception and investor relations.

The most recent analyst rating on (GB:HMSO) stock is a Sell with a £245.00 price target. To see the full list of analyst forecasts on Hammerson plc R.E.I.T. stock, see the GB:HMSO Stock Forecast page.