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Goldman Sachs

May 21, 2026

LondonMetric Property FY25-26 Results Analysis

Market ReportEquitiesReal EstateReal Estate

LondonMetric Property released FY26 results showing EPRA EPS of 13.4p and NTA per share of 200.6p, both landing within 1% of consensus. Goldman Sachs maintains a Neutral rating with a 190p price target.

Key Takeaways

  • 1.FY26 EPRA EPS of 13.4p was 4% below Goldman Sachs estimates and 1% below consensus.
  • 2.Net Tangible Assets (NTA) per share was 200.6p, which was 1% above consensus but 6% below Goldman Sachs estimates.
  • 3.Operating metrics showed a slight decline in like-for-like rental growth and occupancy compared to the first half of the year.

Table of Contents

  • Financial metrics
  • Operating metrics
  • Balance sheet / other
  • Disclosure Appendix
  • Price target and rating history chart(s)
  • Target price history table(s)
  • Regulatory disclosures

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Page 1 of LondonMetric Property FY25-26 Results Analysis
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Authors

Jonathan KownatorKuber SoodRyan RamnarainRebecca Parker

Securities

LMPL.L

Themes

Earnings ResilienceOperational Performance and Rent ReviewsDebt Refinancing and Capital Structure

Regions

UKEuropeUnited Kingdom