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Price targets around £6.70 sit just below a fair value estimate that has edged from £7.05 to about £7.03 per share, signalling only a slight adjustment in how analysts are framing Land Securities Group. This aligns with recent research that has tilted a bit more cautious, with at least one downgrade in rating alongside a neutral stance from a major global bank. As you read on, you will see how to track these shifts and what they may mean for your view on the shares over time.
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The latest research includes an upgrade from Goldman Sachs, which signals a more constructive stance on Land Securities Group and adds a counterweight to earlier cautious views.
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Morgan Stanley keeps an Equal Weight rating with a £6.70 price target, suggesting analysts there still see a case for holding the shares around current valuation assumptions.
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Panmure Liberum has turned more cautious, issuing a downgrade that highlights concerns around execution and the balance between risk and reward at current levels.
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Berenberg and Morgan Stanley have both trimmed price targets in recent months, which points to a more restrained view on upside potential and puts greater focus on how effectively management delivers against existing plans.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there’s more to the story. Head to the Simply Wall St Community to discover more perspectives!
We’ve flagged 3 risks for Land Securities Group. See which could impact your investment.
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Land Securities Group has agreed a 192,000 sq ft lease with bp for the entire 15 storey Ink building at its Timber Square development in SE1, which will become bp’s new global headquarters.
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Following the bp lease, Timber Square is reported to be 54% let, with Landsec citing continued customer interest in the remaining Print building space in prime central London.
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Landsec reports that MYO Kings Cross, completed in late 2025, is 60% let or under offer and is expected to be substantially let by the summer. The Thirty High development, due to complete later this summer, is also seeing healthy leasing interest.
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Timber Square is described as one of the most significant net zero commercial schemes in the UK. The Ink building is identified as the tallest hybrid timber and steel office building in Europe, and the Print building is targeting around a 50% reduction in embodied carbon versus a typical office build.
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Fair value estimate has moved slightly from £7.05 to about £7.03 per share.
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Long term revenue growth input remains around a 5.58% decline in the latest update.
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Projected profit margin is broadly stable at about 90.89%.
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Future P/E assumption is almost unchanged, moving from 9.87x to about 9.88x.
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Discount rate has adjusted from around 8.49% to about 8.58%.
Narratives link a company’s real world story to analyst forecasts and fair value estimates so you can see how the pieces fit together. They update as new data, projects and assumptions come through, so your view stays grounded in the latest information.
Head over to the Simply Wall St Community and follow the Narrative on Land Securities Group to stay up to date on:
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How Landsec’s focus on prime real estate and sustainable developments, including large schemes like Timber Square and a planned pipeline of over 6,000 homes by 2030, could influence rental income and earnings mix.
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Ongoing portfolio repositioning, where non core assets are sold and capital is recycled into higher yielding properties, alongside efforts to lift occupancy and lease space above expected rental values.
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Key risks such as high debt levels, rising build and project costs, and the reliance on asset sales and market conditions for funding investments and diversification.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include LAND.L.
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