British Land: A Solid Property Portfolio At A Discounted Price
Source: SeekingAlpha
2025-02-02 09:54:33 ET
Summary
- Following an October 2024 capital raise, British Land is now once again trading at a material discount to NTA.
- With signs that UK commercial property markets are stabilizing, further downside NTA risk appears limited.
- A narrowing of the stock’s P:NTA discount to the level seen in September 2024 would deliver meaningful upside.
- With a forecast dividend yield above 6%, BLND offers investors the potential for a growing income stream and solid capital growth, warranting an upgrade to Buy.
Introduction
I first published on UK-listed real estate investment trust ((REIT)) British Land ( BTLCY ) in late November 2023. The stock, which trades under the code BLND on the London Stock Exchange, was at ~£3.50 when I published the sell call. In mid-September 2024, when BLND pushed through £4.60, that Sell call was looking pretty shaky, with BLND having gained ~34%. However, BLND has suffered a significant correction since September 2024 and as at the time of writing the stock is trading at ~£3.77, implying a price return of ~7.8% over a 14-month period in which the FTSE100 gained ~15.9%....
Read the full article on Seeking Alpha
For further details see:
British Land: A Solid Property Portfolio At A Discounted Price
British Land Co plc
NASDAQ: BRLAF
BRLAF Trading
0.0% G/L:
$5.301 Last:
1,000 Volume:
$5.301 Open:
