Tom Winnifrith Bearcast: Eurasia owning morons lay into poor Gary Newman for speaking the truth with hard analysis
There is much I could write about today including Greggs' (GRG) continued success with vegan sausage rolls (good), Vodafone (VOD) admitting it had to cut the dividend (bad) and yet another property sector shocker, this time from behemoth Land Securities (LAND)…
Hello Share Pushers. I don’t think I’ve looked at Land Securities (LAND) before, but it looks like a reasonable place to put one’s hard-earned. At least the epic code is easy to remember. It goes without saying that it’s a company which owns a lot of land. And as the UK population keeps on rising that’s a nifty asset to have.
To accompany my note yesterday on British Land (BLND) I now revisit Land Securities (LAND) which I last wrote on bullishly in April 2014, when the shares were 1063p. Like British Land they got into new price territory this week 1208p bit have since come back within the uptrend to 1200p.
Reading that an icon of a modern City of London landscape, Lord Foster’s “the Gherkin” has been called in the administrators and that Canary Wharf’s emblematic HSBC HQ building is up for sale, I thought it wise not to continue take the UK property sector for granted assuming it is doing well. To help me in this analysis, I revisit Land Securities (LAND) below.
News of a buoyant office letting market in the City as well as London generally prompts me to re-examine the valuation of the big property development company that is most commonly associated with property activity in London and the South East, Land Securities (LAND).
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