Land Securities Group plc (LAND) Sets New 52-Week Low After Earnings Miss

Shares of Land Securities Group plc (LON:LAND) hit a new 52-week low during trading on Tuesday following a dissappointing earnings announcement. The company traded as low as GBX 918.50 ($12.08) and last traded at GBX 921 ($12.11), with a volume of 3188330 shares. The stock had previously closed at GBX 940.50 ($12.37).

The company reported GBX 25.70 ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of GBX 26.60 ($0.35) by GBX (0.90) (($0.01)). Land Securities Group plc had a return on equity of 3.63% and a net margin of 50.86%. The company had revenue of £366 million for the quarter.

A number of equities research analysts recently weighed in on the company. cut Land Securities Group plc to a “hold” rating and dropped their price target for the company from GBX 1,210 ($15.91) to GBX 1,081 ($14.22) in a research note on Wednesday, September 6th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a GBX 1,114 ($14.65) price target on shares of Land Securities Group plc in a research note on Wednesday, September 27th. Numis Securities Ltd restated a “hold” rating and issued a GBX 1,077 ($14.17) price target on shares of Land Securities Group plc in a research note on Tuesday, September 5th. Credit Suisse Group AG restated an “outperform” rating and issued a GBX 1,140 ($14.99) price target on shares of Land Securities Group plc in a research note on Wednesday, September 13th. Finally, Deutsche Bank AG increased their price target on Land Securities Group plc from GBX 1,000 ($13.15) to GBX 1,050 ($13.81) and gave the company a “hold” rating in a research note on Monday, September 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of GBX 1,109 ($14.59).

In other news, insider Alison J. Carnwath acquired 10,050 shares of the stock in a transaction on Monday, September 18th. The shares were purchased at an average price of GBX 978 ($12.86) per share, for a total transaction of £98,289 ($129,276.60).

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About Land Securities Group plc

Land Securities Group PLC is a United Kingdom-based holding company. The Company is a real estate investment trust (REIT). The Company operates through two segments: Retail Portfolio and the London Portfolio. The Company’s Retail Portfolio includes all the shopping centers and shops (excluding central London shops), hotels and leisure assets, and retail warehouse properties.

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