LondonMetric Property (LMP) AI Stock Analysis

• Market Cap: £4.91B
• Dividend Yield: 6.67%
• Average Volume (3M): 6.31M
• Price to Earnings (P/E): 7.7
• Beta (1Y): 0.81
• 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: 2,344,406,300
• 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: £241.75
• Price Target Upside: 15.01% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): 0.13
• Revenue Forecast (FY): £456.41M

• Rating: 80 Outperform
• Price Target: 237.00p ▲(12.75% Upside)
• Action: Reiterated Date: 12/07/25
• Date: Action: Reiterated 12/07/25

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

Portfolio Scale & Growth

A 22% portfolio value uplift to GBP 7.4bn boosts scale, deepening tenant diversification and underwriting power. Larger portfolio supports recurring rental income, improves access to capital and M&A optionality, and makes income generation and cost absorption more durable over time.

High Occupancy

A 98.1% occupancy rate signals resilient demand and stable recurring cash flows across the portfolio. High occupancy reduces vacancy-driven income volatility, supports predictable dividend capacity, and underpins long-term cash generation even through economic cycles.

Strong Cash Generation

Substantial FCF growth and an FCF/net income ratio near 0.82 indicate effective cash conversion from operations. Robust cash generation supports dividends, capital recycling and selective development, enhancing long-term financial flexibility and shareholder distributions.

Negative Factors

Rising Finance Costs

A 31.5% jump in net finance costs materially raises the interest burden on earnings and reduces distributable cash. Higher finance costs increase sensitivity to interest rate cycles and can compress margins and dividend capacity unless offset by higher rental income or refinancing gains.

Shorter Debt Maturity Profile

A shorter average debt life heightens near-term refinancing exposure. If capital markets tighten or rates rise, clustered maturities can force costlier refinancing or asset disposals, increasing execution risk for capital recycling strategies and pressuring future cash available for distribution.

Acquisition Integration Risk

Identified difficulties with acquired urban logistics assets signal execution and asset-quality risk. Integration issues can require extra capex or leasing effort, slow income accretion from deals, and weigh on returns from M&A-driven growth initiatives over multiple quarters.

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	Mar 2025	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement
Total Revenue	430.50M	396.70M	178.00M	136.40M	122.20M	113.40M
Gross Profit	424.50M	391.80M	176.30M	134.90M	119.90M	111.50M
EBITDA	386.75M	468.30M	161.70M	119.10M	110.20M	16.00M
Net Income	314.40M	347.90M	118.70M	-506.30M	257.30M	-5.70M
Balance Sheet
Total Assets	7.97B	6.61B	6.48B	3.08B	2.63B	2.42B
Cash, Cash Equivalents and Short-Term Investments	147.30M	41.80M	111.90M	32.60M	51.40M	81.80M
Total Debt	2.84B	2.10B	2.12B	1.02B	842.70M	932.60M
Total Liabilities	3.25B	2.48B	2.51B	1.08B	888.70M	979.90M
Stockholders Equity	4.69B	4.09B	3.94B	1.97B	1.73B	1.43B
Cash Flow
Free Cash Flow	297.50M	284.00M	117.30M	84.90M	60.50M	42.30M
Operating Cash Flow	300.00M	316.90M	123.10M	101.80M	86.10M	60.40M
Investing Cash Flow	-56.10M	-7.90M	195.70M	500.00K	-53.00M	-214.90M
Financing Cash Flow	-123.20M	-339.70M	-249.90M	-121.00M	-63.50M	215.70M

LondonMetric Property Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 210.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• 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 210.2 is above the 20-day moving average (MA) of 208.74, above the 50-day MA of 201.20, and above the 200-day MA of 189.93, indicating a bullish trend. The MACD of 3.04 indicates Positive momentum. The RSI at 55.63 is Neutral, neither overbought nor oversold. The STOCH value of 38.58 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	£4.91B	7.70	7.22%	6.67%	43.70%	40.28%
BLND	75 Outperform	£3.82B	3.98	6.14%	5.85%	-20.83%	―
LAND	73 Outperform	£4.56B	11.16	3.85%	6.34%	10.69%	135.58%
AEWU	71 Outperform	£171.05M	9.16	7.37%	7.43%	-10.95%	-30.09%
SREI	66 Neutral	£263.14M	―	―	6.64%	―	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
PCTN	60 Neutral	£431.55M	6.81	7.51%	5.15%	-3.98%	412.08%

LondonMetric Property Corporate Events

LondonMetric Declares Third Quarterly Property Income Dividend

LondonMetric Property has declared a third quarterly interim dividend of 3.05 pence per ordinary share, to be paid as a Property Income Distribution. The payout, scheduled for mid-April 2026 with an ex-dividend date in mid-March, aligns with the company’s progressive dividend policy and offers a scrip alternative, underscoring its commitment to shareholder income and flexibility.

The decision to maintain this level of distribution highlights LondonMetric’s confidence in its income-generating property portfolio. By continuing to provide a scrip dividend option, the company supports investors seeking either cash returns or the opportunity to reinvest, which can influence capital structure and appeal to income-focused shareholders in the UK property market.

The most recent analyst rating on (GB:LMP) stock is a Buy with a £241.00 price target. To see the full list of analyst forecasts on LondonMetric Property stock, see the GB:LMP Stock Forecast page.

LondonMetric Adds Alistair Elliott to Remuneration Committee

LondonMetric Property has appointed Alistair Elliott as a member of its Remuneration Committee, effective 28 January 2026. The addition of Elliott to the committee reflects ongoing adjustments to the company’s governance and oversight of executive pay, a key area of focus for investors and stakeholders in the UK listed property sector.

The most recent analyst rating on (GB:LMP) stock is a Buy with a £230.00 price target. To see the full list of analyst forecasts on LondonMetric Property stock, see the GB:LMP Stock Forecast page.

LondonMetric invests £89m in nine Premier Inn hotels via Whitbread sale-and-leaseback

LondonMetric Property has expanded its leisure and hospitality exposure with the £89 million acquisition of nine Premier Inn hotels in a sale-and-leaseback deal with Whitbread, adding 955 South East-focused, purpose-built hotel rooms on new 30-year leases at a net initial yield of 5.3%. The transaction, which includes CPI-linked rent reviews on £5 million of annual rent and strong rent cover, builds on a recent £44 million hotel portfolio purchase from Whitbread and lifts LondonMetric’s ownership to 22 modern Premier Inn assets, making Whitbread its fourth-largest occupier and underscoring the REIT’s strategy of securing long, inflation-protected income in sectors benefiting from rising demand for travel, entertainment and experiences.

The most recent analyst rating on (GB:LMP) stock is a Buy with a £255.00 price target. To see the full list of analyst forecasts on LondonMetric Property stock, see the GB:LMP Stock Forecast page.

LondonMetric Sets Date for Full-Year 2026 Results and Analyst Presentation

LondonMetric Property has announced that it will publish its full-year results for the financial year ending 31 March 2026 on 21 May 2026, accompanied by an in-person analyst presentation in London at 8:30 a.m. The company will also provide a live webcast and on-demand replay of the results presentation via its investor relations website and a dedicated media link, underscoring its effort to maintain transparency and broad access for analysts and investors ahead of the key earnings update.

The most recent analyst rating on (GB:LMP) stock is a Buy with a £255.00 price target. To see the full list of analyst forecasts on LondonMetric Property stock, see the GB:LMP Stock Forecast page.

LondonMetric to Issue New Shares Under Scrip Dividend Scheme

LondonMetric Property has confirmed that, in connection with its previously declared second quarterly interim dividend of 3.05 pence per ordinary share payable on 8 January 2026, it will issue 975,864 new ordinary shares under its scrip dividend scheme. The company is seeking admission of these shares to the Official List and to trading on the London Stock Exchange on 8 January 2026, after which its issued share capital will total 2,344,406,347 ordinary shares with one voting right each and no treasury shares, a new denominator for investors’ disclosure calculations under UK transparency rules.

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.

LondonMetric Rotates £91m From Mature Retail into Higher-Yield Logistics Assets

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.

LondonMetric Property Issues £500 Million in Notes Under Euro Medium-Term Programme

LondonMetric Property PLC has announced the publication of pricing supplements for the issuance of £500 million in notes under its £3 billion euro medium-term note programme. This issuance includes £250 million 4.50% notes due in 2029 and £250 million 4.875% notes due in 2032, reflecting the company’s strategy to secure long-term financing and strengthen its financial position.

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.