LondonMetric Property (LMP) AI Stock Analysis

• Market Cap: £4.35B
• Dividend Yield: 6.66%
• Average Volume (3M): 6.31M
• Price to Earnings (P/E): 12.4
• Beta (1Y): 0.80
• Revenue Growth: 43.70%
• EPS Growth: 40.28%
• Country: UK
• Employees: 47
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Diversified
• EPS (TTM): 0.07
• Shares Outstanding: 2,343,430,400
• 10 Day Avg. Volume: 5,980,678
• 30 Day Avg. Volume: 6,310,205
• PEG Ratio: 0.20
• Price to Book (P/B): 0.91
• Price to Sales (P/S): 9.43
• P/FCF Ratio: 13.17
• 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: £233.17
• Price Target Upside: 25.36% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 80 Outperform
• Price Target: 214.00p ▲(15.05% Upside)

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.

Positive Factors

Revenue Growth

The 15% increase in net rental income highlights strong demand and effective asset management, supporting long-term revenue growth and stability.

Portfolio Value Growth

A 22% increase in portfolio value indicates successful asset appreciation and strategic acquisitions, enhancing long-term asset base and market position.

Cost Efficiency

The reduced EPRA cost ratio demonstrates effective cost management, improving profitability and competitive advantage in the real estate sector.

Negative Factors

Increased Finance Costs

Rising finance costs due to increased debt can strain cash flows and limit financial flexibility, posing a risk to future profitability and investment capacity.

Debt Maturity Concerns

Shorter debt maturity increases refinancing risk, potentially impacting liquidity and financial stability if not managed effectively.

Challenges with Urban Logistics Acquisition

Challenges with recent acquisitions may hinder asset performance and integration, affecting overall portfolio returns and strategic growth objectives.

LondonMetric Property Business Overview & Revenue Model

Company Description

LondonMetric is a FTSE 250 REIT that owns one of the UK's leading listed logistics platforms alongside a diversified long income portfolio, with 16 million sq ft under management. It owns and manages desirable real estate that meets occupiers' demands, delivers reliable, repetitive and growing income-led returns and outperforms over the long term.

How the Company Makes Money

LondonMetric Property generates revenue primarily through rental income from its portfolio of properties. The company leases its properties to a diverse range of tenants, including major retailers and logistics firms, under long-term leases, which provide a stable income stream. Additionally, LMP engages in property development and asset management, creating value through strategic acquisitions and enhancements to its existing properties. The firm may also benefit from capital appreciation of its real estate assets over time. Strategic partnerships with other real estate firms and stakeholders can enhance its market presence and investment opportunities, further contributing to its revenue generation.

LondonMetric Property Financial Statement Overview

Summary

LondonMetric Property shows strong financial performance with significant revenue and profit growth, efficient cost management, and a solid balance sheet. However, past profit volatility and rising debt levels pose potential risks. Cash flow generation is robust, providing a solid foundation for future investments.

Income Statement

The company has demonstrated strong revenue growth with a substantial increase of 122.8% from the previous year. The gross profit margin is exceptionally high at 98.8%, indicating efficient cost management. Net profit margin stands at 87.7%, showcasing significant profitability. However, the previous years showed volatility, with a major loss in 2023, which should be monitored for future stability.

Balance Sheet

The balance sheet is strong, with a debt-to-equity ratio of 0.51, indicating moderate leverage. The equity ratio is 61.9%, showing a solid equity base, which is a positive sign for financial stability. Return on equity is a robust 8.5%, reflecting effective use of equity to generate profit. The financial health appears stable, though the increase in total debt over the years requires attention.

Cash Flow

Cash flow analysis reveals healthy free cash flow growth, with a 142.1% increase from the previous year. The operating cash flow to net income ratio is 0.91, suggesting strong cash generation relative to reported profits. The free cash flow to net income ratio is 0.82, underlining good cash conversion efficiency. However, fluctuations in financing cash flows and capital expenditures need careful management.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2022	Dec 2022	Dec 2021
Income Statement
Total Revenue	430.50M	396.70M	178.00M	133.20M	136.40M	122.20M
Gross Profit	202.10M	391.80M	176.30M	131.20M	134.90M	119.90M
EBITDA	386.75M	468.30M	161.70M	116.20M	119.10M	110.20M
Net Income	314.40M	347.90M	118.70M	734.50M	-506.30M	257.30M
Balance Sheet
Total Assets	7.97B	6.61B	6.48B	3.66B	3.08B	2.63B
Cash, Cash Equivalents and Short-Term Investments	147.30M	41.80M	111.90M	51.30M	32.60M	51.40M
Total Debt	2.84B	2.10B	2.12B	1.03B	1.02B	842.70M
Total Liabilities	3.25B	2.48B	2.51B	1.09B	1.08B	888.70M
Stockholders Equity	4.69B	4.09B	3.94B	2.56B	1.97B	1.73B
Cash Flow
Free Cash Flow	297.50M	284.00M	117.30M	54.20M	84.90M	60.50M
Operating Cash Flow	300.00M	316.90M	123.10M	105.20M	101.80M	86.10M
Investing Cash Flow	-56.10M	-7.90M	195.70M	-377.10M	500.00K	-53.00M
Financing Cash Flow	-123.20M	-339.70M	-249.90M	271.80M	-121.00M	-63.50M

LondonMetric Property Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 186.00
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:LMP, the sentiment is Positive. The current price of 186 is above the 20-day moving average (MA) of 185.46, below the 50-day MA of 187.29, and above the 200-day MA of 183.99, indicating a neutral trend. The MACD of -0.37 indicates Negative momentum. The RSI at 51.75 is Neutral, neither overbought nor oversold. The STOCH value of 74.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:LMP.

LondonMetric Property Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LMP	80 Outperform	£4.35B	12.45	7.22%	6.66%	43.70%	40.28%
BLND	75 Outperform	£3.91B	11.13	6.14%	5.85%	-20.83%	―
LAND	73 Outperform	£4.48B	18.07	3.85%	6.34%	10.69%	135.58%
CREI	73 Outperform	£381.18M	7.19	11.71%	7.35%	1.60%	211.81%
UTG	72 Outperform	£2.69B	7.73	7.57%	5.71%	12.77%	14.86%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
PCTN	60 Neutral	£376.23M	9.61	7.51%	5.14%	-3.98%	412.08%

LondonMetric Property Corporate Events

LondonMetric Property Launches Successful £500m Green Bond

LondonMetric Property Plc has successfully priced a £500 million debut sterling-denominated senior unsecured green bond issuance under its £3 billion Euro Medium Term Note Programme. The issuance, which was 3.2 times oversubscribed, reflects strong institutional demand and diversifies the company’s funding sources with attractive coupons, enhancing its financial positioning and extending debt maturity.

LondonMetric Reports Strong Half-Year Results with Strategic Acquisitions Boosting Income

LondonMetric Property Plc reported a 14.6% increase in net rental income to £221.2 million for the half-year ending September 2025, driven by its acquisition of Urban Logistics REIT assets. Despite a decrease in IFRS reported profit to £130.3 million, the company achieved a 9.7% rise in EPRA earnings to £148.6 million, reflecting its strategic focus on high-performing sectors and efficient operations. The company’s portfolio value increased to £7.4 billion, with a significant emphasis on logistics, which now represents 54% of its holdings. LondonMetric’s proactive asset management and strategic acquisitions have enhanced its portfolio quality, leading to a 7% dividend increase and positioning it for continued growth despite macroeconomic uncertainties.

LondonMetric Property Announces £73 Million in Strategic Transactions

LondonMetric Property Plc has announced a significant transaction involving £73 million in acquisitions and disposals. The company acquired a £51 million portfolio, including a logistics warehouse at East Midlands airport and a hotel at Manchester airport, both on long leases with substantial rental growth potential. Additionally, LondonMetric sold five former Urban Logistics REIT assets for £22 million, achieving a 5% premium over the acquisition price. These strategic moves reflect LondonMetric’s focus on reinvesting proceeds into high-quality, mission-critical assets with strong reversionary potential, enhancing its position in the real estate market.

LondonMetric Announces Retirement of Investment Director Valentine Beresford

LondonMetric Property Plc announced the retirement of Valentine Beresford, Investment Director and one of the original founders, at the end of the current financial year. Will Evers, who has been Joint Head of Investment since 2024, will become the sole Head of Investment, ensuring continuity in leadership. The transition is part of a planned succession, with the company poised to continue capitalizing on significant opportunities, supported by a strong management team.

LondonMetric Property Reports Strong Growth and Strategic Refinancing

LondonMetric Property Plc reported strong performance for the six-month period ending September 2025, with a 14% increase in net rental income and high occupancy rates. The company has been active in non-core asset disposals and acquisitions, enhancing its portfolio with significant rental growth and maintaining a low cost ratio. It has also engaged in refinancing activities to replace secured debt with more favorable unsecured debt terms, positioning itself well for future investments and debt management. Integration of recent acquisitions is progressing smoothly, contributing to the company’s dynamic growth and shareholder-aligned culture.

LondonMetric Property PLC Announces Additional Listing of Shares

LondonMetric Property PLC announced the issuance of 524,274 ordinary shares as part of its scrip dividend scheme, following the declaration of a quarterly interim dividend. The new shares are set to be admitted to the London Stock Exchange on 8 October 2025, increasing the company’s total issued share capital to 2,343,430,483 ordinary shares. This move is expected to enhance shareholder value and provide flexibility in managing shareholder interests.

LondonMetric Expands Portfolio with £78.5 Million NNN Asset Acquisitions

LondonMetric Property Plc has announced the acquisition of £78.5 million worth of triple net lease assets across five transactions, with an expected net initial yield (NIY) increase from 5.5% to 6.3% over five years. The acquisitions include a portfolio of Premier Inn hotels, logistics warehouses, and convenience assets, adding £4.6 million in annual rent and extending the company’s presence in the budget hotel sector. These strategic investments are aimed at enhancing the granularity of LondonMetric’s assets in key sectors, capitalizing on consumer trends towards experience, entertainment, and convenience, and are expected to lead to further similar opportunities.