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Land Securities Group PLC (LAND)

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Dod101
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Re: Land Securities Group PLC (LAND)

#412873

Postby Dod101 » May 18th, 2021, 7:49 am

idpickering wrote:
Dod101 wrote:
idpickering wrote:Half-year Report

Here; https://www.investegate.co.uk/imperial- ... 00029635Y/


Actually Ian this is the half year report for Imperial Brands.

Dod



My error, sorry all;

See; https://www.investegate.co.uk/land-sec. ... 00049118Y/

I've asked that my wrong post be deleted. There was a lot of reports this morning. My bad. ;)


You do a great job so an occasional error is to be excused!

Dod

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Re: Land Securities Group PLC (LAND)

#412880

Postby idpickering » May 18th, 2021, 8:26 am

Dod101 wrote:
idpickering wrote:
Dod101 wrote:
Actually Ian this is the half year report for Imperial Brands.

Dod



My error, sorry all;

See; https://www.investegate.co.uk/land-sec. ... 00049118Y/

I've asked that my wrong post be deleted. There was a lot of reports this morning. My bad. ;)


You do a great job so an occasional error is to be excused!

Dod


Thanks Dod. I do try.

Back to LAND, I used to hold them many moons ago, but no more. I'm in no rush to buy back into them either tbh.

Ian.

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Re: Land Securities Group PLC (LAND)

#426015

Postby idpickering » July 9th, 2021, 7:06 am

Dividend declaration and rent collection update

Dividend

Landsec today confirms that the first quarterly dividend for the 2021/22 financial year will be 7.0p per ordinary share, paid entirely as a property income distribution, and will be paid on 8 October 2021 to shareholders on the register at the close of business on 27 August 2021.


https://www.investegate.co.uk/land-sec. ... 00036858E/

idpickering
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Re: Land Securities Group PLC (LAND)

#450250

Postby idpickering » October 15th, 2021, 7:06 am

September 2021 quarter day rent collection data

Rent collection rates continue to improve. As at 12 October 2021 - collection day 10 - 85% of the net rent due on 29 September had been paid, this compares with 81% for the June quarter date. The breakdown of the rent collection by segment is as follows:


https://www.investegate.co.uk/land-sec. ... 00031616P/

idpickering
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Re: Land Securities Group PLC (LAND)

#455246

Postby idpickering » November 3rd, 2021, 7:08 am

Landsec investment in MediaCity

Landsec today announces that it has acquired a majority stake in MediaCity, the 37 acre media, digital and tech hub in Salford, Greater Manchester previously owned by a 50:50 JV between Legal & General and Peel L&P. Landsec will partner with Peel L&P who will retain a 25% stake and continue to serve as asset and development manager.


https://www.investegate.co.uk/land-sec. ... 00041329R/

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Re: Land Securities Group PLC (LAND)

#458365

Postby idpickering » November 16th, 2021, 7:29 am

Landsec half year results

Financial results

¾ EPRA earnings (1)(2) up 56.5% to £180m

¾ Gross rental income(1)(2) down 3.8% to £282m

¾ Profit before tax for the period of £275m (2020: loss of £835m)

¾ EPRA earnings per share(1)(2) up 56.8% to 24.3p

¾ Dividend in the period of 15.5p per share (2020: 12.0p)

¾ Combined Portfolio(1)(2) valued at £11.0bn, with a valuation surplus(1)(2) of £81m or 0.8%(3)

¾ EPRA Net Tangible Assets per share(1) up 2.7% to 1,012p

¾ Total business return(1) of 3.7%

And later;

The Board has declared a second interim dividend of 8.5p per ordinary share to be payable wholly as a PID (2020: 12.0p which represented a dividend for the first two quarters of the financial year to 31 March 2021) on 4 January 2022 to shareholders registered at the close of business on 26 November 2021.


https://www.investegate.co.uk/land-sec. ... 00104513S/

idpickering
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Re: Land Securities Group PLC (LAND)

#458368

Postby idpickering » November 16th, 2021, 7:35 am

Landsec to invest £135m to significantly decarbonise its portfolio by 2030

Landsec has today announced the creation of a new £135m net zero transition investment plan to help the Group achieve its 2030 science-based targets and drive its transition to net zero.


https://www.investegate.co.uk/land-sec. ... 00124479S/

dealtn
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Re: Land Securities Group PLC (LAND)

#458668

Postby dealtn » November 17th, 2021, 8:45 am

Sounds closer to "spend" than "invest" to me. Can't find many details on expected pay back on that investment.

"With increasingly clear evidence of stronger sustainability credentials underpinning stronger operational performance, it is not only essential from an environmental perspective but an economic one too."

This is the closest I can find. What are those "increasingly clear" points of evidence, and why are they so hard to find and absent given their obvious clarity? It looks like virtue signalling and margin erosion to me I'm afraid.

idpickering
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Re: Land Securities Group PLC (LAND)

#478352

Postby idpickering » February 3rd, 2022, 4:22 pm

Dividend Declaration

Landsec today confirms that the third interim dividend for the financial year ending 31 March 2022 will be 8.5 pence per Ordinary Share and will be paid on 7 April 2022 to shareholders on the register at the close of business on 11 March 2022. The dividend will be paid entirely as a Property Income Distribution. The last date for DRIP elections is 17 March 2022.


https://www.investegate.co.uk/land-sec. ... 45026514A/

Bouleversee
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Re: Land Securities Group PLC (LAND)

#478366

Postby Bouleversee » February 3rd, 2022, 4:56 pm

Two questions: 1) What do they mean by "drive its transition to net zero"? 2) If the PID is in an ISA, is the tax reclaimable?

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Re: Land Securities Group PLC (LAND)

#478372

Postby Dod101 » February 3rd, 2022, 5:14 pm

Bouleversee wrote:Two questions: 1) What do they mean by "drive its transition to net zero"? 2) If the PID is in an ISA, is the tax reclaimable?


1) Like most big companies they are trying to claim that they are moving to zero climate emissions and they call that 'transitioning'

2) The tax on a PID is usually recoverable. In fact, Interactive Investor nowadays pays the PID gross without first crediting it net and then recovering the tax. Not sure what other platforms do.

Dod

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Re: Land Securities Group PLC (LAND)

#500885

Postby idpickering » May 17th, 2022, 7:57 am

Land securities results for the year ended 31 March 2022.

− Total accounting return up to 10.5%, driven by strong operational performance and
strategic actions
− EPRA EPS(1)(2) up 42% to 48.0p, reflecting growth in LFL income and normalising
trading conditions
− EPRA NTA per share(1) up 8% to 1,063p, with a portfolio valuation surplus of 3.6%
− Profit before tax up to £875m (2021: £1,393m loss), driven by growth in earnings and
values.
Total dividend up 37.0% to 37.0p per share (2021: 27.0p), supported by strong recovery
in earnings
− Group LTV(1)(2) up slightly to 34.4% (2021: 32.2%), due to investment in future growth
opportunities
− Weighted average maturity of debt at 9.1 years (2021: 11.5 years), providing strong
financial base.

And later;

Dividends

The Board has recommended a final dividend for the year ended 31 March 2022 of 13p per ordinary share to be paid as
Property Income Distribution (PID). Subject to shareholders' approval at the Annual General Meeting, the final dividend will be
paid on 22 July 2022 to shareholders registered at the close of business on 17 June 2022. The last date for Dividend
Reinvestment Plan (DRIP) elections will be 1 July 2022. The total dividend paid and payable in respect of the year ended 31
March 2022 is 37p (2021: 27p).
The first quarterly dividend for the year ending 31 March 2023 will be paid in October 2022 and will be announced in due
course.


https://www.rns-pdf.londonstockexchange ... 2-5-17.pdf

idpickering
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Re: Land Securities Group PLC (LAND)

#512635

Postby idpickering » July 8th, 2022, 7:14 am

Dividend Declaration.

Landsec today confirms that the first interim dividend for the financial year ending 31 March 2023 will be 8.6 pence per Ordinary Share and will be paid on 7 October 2022 to shareholders on the register at the close of business on 26 August 2022. The dividend will be paid entirely as a Property Income Distribution. The last date for DRIP elections is 16 September 2022.


https://www.investegate.co.uk/land-sec. ... 00067478R/

Ian.

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Re: Land Securities Group PLC (LAND)

#531288

Postby idpickering » September 21st, 2022, 3:25 pm

Landsec and Lendlease exchange contracts on 21 Moorfields for £809m.

Landsec announces that it has exchanged contracts for the sale of 21 Moorfields, EC2 to an investment vehicle managed by global real estate and investments group, Lendlease (ASX:LLC) . The total consideration for the sale amounts to £809m, which, after outstanding development-related items results in a net cash receipt to Landsec of £733m. Rothesay is providing financing for the acquisition with a 10 year senior term loan.

21 Moorfields is a premium 568,500 sq ft London office development fully pre-let to Deutsche Bank AG (DB) on a 25 year lease, with an annualised net rent of £38m. Built directly above Moorgate station, the asset is targeting sustainability ratings of BREEAM Excellent and LEED v3 Gold.

Landsec will retain the responsibility for completing the development, with practical completion expected in Q1 2023. Lendlease will manage the investment vehicle , on behalf of its investment partners including Australia's TCorp and its own minority interest.


https://www.investegate.co.uk/land-sec. ... 53051781A/

Ian.

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Re: Land Securities Group PLC (LAND)

#546633

Postby idpickering » November 15th, 2022, 8:21 am

Results for the half year ended 30 September 2022.

¾ EPRA EPS(2)(3) up 9.5% to 26.6p, supported by strong leasing and 8.3% LFL rental income growth

¾ Total accounting return of -2.9%, reflecting softening of London yields due to rising interest rates

¾ EPRA NTA per share(2) (3) down 5.0% to 1,010p, driven by a -2.9% movement in portfolio value

¾ Group LTV(2)(3) down to 31.1% (Mar-22: 34.4%) following £1bn of mature London office disposals

¾ Loss before tax of £192m (2021: £275m profit), with growth in earnings offset by market yield shift

¾ Total dividend up 13.5% to 17.6p per share, supported by increase in earnings

¾ Weighted average debt maturity up to 9.8 years (Mar-22: 9.1 years), providing solid financial base

Operational highlights: continued operational momentum, maintaining strong capital base

And later;

The Board has declared a second interim dividend of 9.0p per ordinary share to be payable wholly as a PID (2021: 8.5p) on 3 January 2023 to shareholders registered at the close of business on 24 November 2022.


https://www.investegate.co.uk/land-sec. ... 00043700G/

Ian.

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Re: Land Securities Group PLC (LAND)

#546779

Postby idpickering » November 15th, 2022, 4:19 pm

Further to the above;

Second Interim Dividend - Record Date Correction.

The details stated in Landsec's Half-year Results announcement, released at 7.00am today under RNS No 3700G, stated an incorrect Record Date of 24 November 2022.

The correct Record Date for the second interim dividend of 9p per share is 25 November 2022.

All other details remain unchanged.


https://www.investegate.co.uk/land-sec. ... 30024924G/

Ian.

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Re: Land Securities Group PLC (LAND)

#554772

Postby idpickering » December 14th, 2022, 12:42 pm

Rule 19.6(c) confirmation with respect to stated post-offer intention statements with regard to U and I Group PLC.

On 14 December 2021, Land Securities Group PLC ("Landsec") completed its recommended cash acquisition of the entire issued and to be issued share capital of U and I Group PLC ("U&I"), which was effected by way of a scheme of arrangement under Part 26 of the Companies Act 2006 (the "Acquisition").

Landsec announces that it has duly confirmed in writing to The Panel on Takeovers and Mergers in accordance with the requirements of Rule 19.6(c) of the Code that it has complied with its post-offer intention statements made pursuant to Rules 2.7(c)(viii) and 24.2 of the Code, as originally detailed in its announcement of 01 November 2021 and in the scheme document published in connection with the Acquisition on 15 November 2021.


https://www.investegate.co.uk/land-sec. ... 25186839J/

Ian.

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Re: Land Securities Group PLC (LAND)

#578987

Postby idpickering » March 28th, 2023, 7:24 am

Landsec investment and operational update

Landsec continues to build on strong operational and strategic momentum

Since its half year results, Landsec has continued to build on its operational and strategic momentum. It has capitalised further on the ongoing customer demand for prime space across Central London offices and major retail destinations, while also recycling capital out of mature assets into new opportunities offering significantly higher future returns. At the same time, the business has further strengthened its strong capital base.

Unlocking complex opportunities at attractive returns

Landsec has secured 100% ownership of St David's shopping centre, Cardiff, following its purchase of the debt secured against the 50% share of the asset previously owned by intu plc. Comprising separate transactions with two debt holders, the overall purchase price represents a meaningful discount to the £113m September 2022 book value of Landsec's existing 50% share of the centre, a net initial yield of 9.7% and an equivalent yield of 9.7%.

Leasing momentum in St David's has been strong, as the centre benefits from brands' ongoing "flight to prime". Since March 2022, 36 leases have been signed or are in solicitors hands, on average 11% ahead of ERV. In the last 18 months, several brands have relocated to St David's from elsewhere in the city, agreed to open new stores, or upsized their existing stores, including Zara, Ivy Asia, Gaucho and Footasylum. As a result, occupancy increased from 88.1% in March 2021 to 93.1% at the start of this year, with retail sales for the financial year to date 15% above the prior year and in-line with pre-pandemic levels.


https://www.investegate.co.uk/land-sec. ... 00093758U/

Ian (No holding).

idpickering
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Re: Land Securities Group PLC (LAND)

#589292

Postby idpickering » May 16th, 2023, 7:23 am

Results for the year ended 31 March 2023.

¾ EPRA EPS(1)(2) of 53.1p, with underlying EPRA EPS excluding the benefit of increased surrender premiums up 4.4% to 50.1p, driven by strong leasing and 6.0% LFL rental income growth

¾ Total dividend up 4.3% to 38.6p per share, in line with increase in underlying earnings

¾ Loss before tax of £622m as a result of a -£848m, or -7.7%, movement in portfolio value, as an average 50bps yield softening offset an overall 3.6% ERV growth, leaving EPRA NTA per share(1) (2) down 11.9% to 936p and total return on equity at -8.3%

¾ Net debt down £0.9bn due to successful disposal of £1.4bn of mature offices, mostly in the City

¾ Sector-leading balance sheet strength, with AA/AA- credit rating, 7.0x net debt/EBITDA, Group LTV(1)(2) down 2.7ppt to 31.7% and weighted average debt maturity up from 9.1 to 10.3 years

¾ Expect EPRA EPS for current year to be broadly stable vs last year's underlying 50.1 pence, as positive growth in operational performance offsets impact of recent and further planned disposals

And later;

Dividends

The Board has recommended a final dividend for the year ended 31 March 2023 of 12p per ordinary share to be paid as Property Income Distribution (PID). Subject to shareholders' approval at the Annual General Meeting, the final dividend will be paid on 21 July 2023 to shareholders registered at the close of business on 16 June 2023. The last date for Dividend Reinvestment Plan (DRIP) elections will be 30 June 2023. The total dividend paid and payable in respect of the year ended 31 March 2023 is 38.6p (2022: 37p).

The first quarterly dividend for the year ending 31 March 2024 will be paid in October 2023 and will be announced in due course.


https://www.investegate.co.uk/announcement/7528136

Ian (No holding).

idpickering
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Re: Land Securities Group PLC (LAND)

#600472

Postby idpickering » July 7th, 2023, 7:12 am

Land Securities Group PLC (LAND) Confirmation of first interim dividend for the year ending 31 March 2024.


Land Securities today confirms that the first interim dividend for the financial year ending 31 March 2024 will be 9.0 pence per Ordinary Share and will be paid on 6 October 2023 to shareholders on the register at the close of business on 25 August 2023. The dividend will be paid entirely as a Property Income Distribution. The last date for DRIP elections is 15 September 2023.


https://www.investegate.co.uk/announcem ... on/7618171

Ian (I hold).


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