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).
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.
Receive News & Ratings for Land Securities Group plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Land Securities Group plc and related companies with MarketBeat.com's FREE daily email newsletter.